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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: aknahow who wrote (50935)1/23/2006 1:35:08 PM
From: ild  Read Replies (1) | Respond to of 110194
 
CEF is not available to borrow. So, as I suspected, it's a short covering which is responsible for the big premium.



To: aknahow who wrote (50935)1/23/2006 2:21:52 PM
From: ild  Read Replies (1) | Respond to of 110194
 
After trying Interactive Brokers, Ameritrade let me borrow CEF shares. I shorted 1,000 shares at $7.28. I consider it as a small hedge to my gold shares. I'd like to lose 100% on that hedge. -g-



To: aknahow who wrote (50935)1/23/2006 3:04:02 PM
From: regli  Read Replies (1) | Respond to of 110194
 
I think you ignore two major issues that influence a CEF premium in addition to its silver. The first is that its bullion is stored in Canada and the second and more important one is that you pay less in taxes when selling CEF vs GLD (28% vs. capital gains).


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