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Strategies & Market Trends : Thai Funds -- Ignore unavailable to you. Want to Upgrade?

To: Polartee who wrote (34)	11/13/1997 1:49:00 AM
From: Heretic	Respond to of 107

John: Congratulations on a successful strategy! Obviously, TC & TTF NAVs have been sinking in recent weeks. The premiums, on the other hand, have remained excessively high -- that is until this week. I had erroneously been expecting a sustainable bounce in the Thai market. I believed the potential of such an outcome produced an unacceptable risk/reward scenario for an otherwise sound strategy of shorting a high premium CEF. Clearly I was wrong - the 'risk' of a stronger Thai market never developed. Reed

To: Polartee who wrote (34)	11/19/1997 1:52:00 AM
From: Philip H. Lee	Read Replies (1) \| Respond to of 107

Thailand now the #1 country weighting (12%) for Mark Mobius' Templeton Emerging Market Fund as of 10/31. See November 19 Wall Street Journal, Asia section. interactive.wsj.com (Subscription of $49/year required - includes online Wall Street Journal, Barron's, and Dow Jones Newswire). Brief excerpt: "The hefty Thai weighting at Templeton, a unit of San Mateo, California-based Franklin Resources Inc., is in line with Mr. Mobius's famously contrarian views on emerging markets. Thailand's stock-market index is currently down more than 80% from its peak in December 1993 and the country faces an economic crunch from its fluctuating currency, which was floated in July." Philip