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

To: Polartee who wrote (59)1/28/1998 5:31:00 PM
From: MCsweet  Read Replies (2) | Respond to of 107
 
Shorting closed-end funds

I've been considering the strategy of shorting the Malaysia fund
(MF) and buying the web (EWM).(I know there are comparable strategies
for the Thai funds if you buy on the overseas market.)

I found an interesting quote in the Malaysian WEB prospectus:

"Indonesia, Malaysia, Singapore, and Thailand currently impose foreign
ownership limits on domestic stock, and when the foreign ownership
limit is reached, foreigners may only trade with other foreigners,
frequently at a price that is higher than the price available to
domestic investors. The Free Indices for such countries are designed
to reflect the actual investment conditions for international
investors by using the foreign for stocks when relevant."

If the Malaysian fund uses the local prices in calculating
NAV, could it be not as expensive as we think when compared to
the Malaysian WEB? Has anyone researched this possibility?

I'm just trying to come up with good reasons why I should not
short the Malaysian fund and buy the WEB.

Thanks!
MCsweet



To: Polartee who wrote (59)1/28/1998 8:55:00 PM
From: peter michaelson  Read Replies (1) | Respond to of 107
 
Hey John: Anyone there?

I'm ready to take the plunge on TTF. Been reading Reminescences of a Stock Operator and it's all about doing what you know and sticking to your guns and not chickening out.

So any new insights on how to go long Thailand against a TTF short?

Most appreciated.

BTW, I longed some Indonesian ADR's (TLK<IIT<PAP) this week against an IF short and it's worked out well. The Thai ADR's have huge spreads though.

peter michaelson


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