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

To: alan lewis who wrote (91)2/28/1998 1:59:00 AM
From: peter michaelson  Respond to of 107
 
Alan:

Not rambling at all. Thanks for all the information. I'll wait until I understand all of it before replying.

thanks much, peter



To: alan lewis who wrote (91)3/2/1998 12:05:00 PM
From: peter michaelson  Read Replies (2) | Respond to of 107
 
Alan:

On another topic, what are your thoughts re the Korea ADR's. I calculate that SKM (SK Telecom) currently sells on the NYSE at a 110% premium to its Korean local price, PKX (Pohang Iron & Steel) at 85% and KEP (Korea Electric Power) at 60%.

I've read that the Government of Korea is currently "committed" to opening their markets to 100% foreign ownership by the end of 1998.

I'm currently short all three and longs in FAK (Fidelity Advisor Korea) and MAKOX (Matthews Korea) funds.

What am I not understanding?

thanks, peter



To: alan lewis who wrote (91)3/16/1998 8:53:00 PM
From: peter michaelson  Respond to of 107
 
Alan -

The spread between TTF and TC premiums hit 8% and I'm trying to unwind that position now. This occurred as TTF's NAV shot up with its re-calculation of NAV.

Still working up a fuller response to your last message.

peter


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