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Strategies & Market Trends : BROKERAGE firms that trade stocks in foreign markets -- Ignore unavailable to you. Want to Upgrade?


To: Jethro who wrote (4)4/17/1998 12:42:00 PM
From: peter michaelson  Read Replies (2) | Respond to of 16
 
Jethro:

For example, I believe that Asia Pulp & Paper (PAP-NYSE) is selling at a 20% discount today.

In addition, I would love to see a discussion of the investment trusts (closed end fund equivalents) selling in London at 20% plus discounts and holding lots of cash. Some very compelling buys there, in addition to hedges against shorting on the Thai and Indonesia closed end funds.

A principal obstacle to this strategy is transaction costs, thus my interest in this thread.

Take a look at Trustnet for this data. Take a look at Thai Development Capital Fund, for example. trustnet.co.uk

I would also like to hear of your experiences with Paul Renaud. Are you now a subscriber?

regards, peter michaelson



To: Jethro who wrote (4)4/19/1998 2:21:00 AM
From: Frank Xu  Read Replies (1) | Respond to of 16
 
Jethro
This is true only with OTC ADRs (Due to their market makers' manipulations). ADRs traded on NYSE or Nasdaq under normal situation will eventually catch up to their prices closed at their respective foreign exchanges (I'm talking about Asian stocks). If there are any difference in prices (either at a premium or discount), you will have room to arbitrage. I keep track a list of ADRs just for arbitration purposes.

Frank