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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (27908)	5/2/1998 2:20:00 PM
From: Mark Adams	Read Replies (1) \| Respond to of 132070

APF- Barrons shows net insider sales of 192k shares, ranking Morgan Stanley Asia Pacific in the top % changes in Insider Holdings. This surprises me since this is a closed end fund. I've always associated insider sales with companies- not funds. Any comments? Despite it's reluctance to just sit there, much like Shaman, I'm rather pleased with my IAF. I noted in their proxy materials that they want to require a super majority to open end. I like the pure play on Australia they provide, but they seem to be on the defensive with their new payout policy etc. Finally, you've mentioned CH (chile) several times- but apparently don't have the same feelings for Brazil or Argentina trading at near the same discount. I would guess thats because you've looked at the macro economic picture, which differs substantially. I'm not familiar with Brazil nor Argentina, but I did have the impression that Chile is very dependent on natural resource exports (ie fish meal, copper) and el nino decimated their anchovy harvest (we won't even talk about copper). With SWZ and so many other CEF's trading at 20% discounts, I'm certainly glad you've made me aware of this arena. But picking just one proves too much for me to bear. I want a piece of all of them. <g>

To: Knighty Tin who wrote (27908)	5/3/1998 9:29:00 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

Hi Michael, <<This is bargain basement stuff. I assume you are talking about CH, Chile Fund. Are you considering this a long term hold or a trading buy? Joan

To: Knighty Tin who wrote (27908)	5/4/1998 9:27:00 AM
From: yard_man	Read Replies (1) \| Respond to of 132070

thanks. I think I'll get a little.

To: Knighty Tin who wrote (27908)	5/4/1998 11:07:00 AM
From: HB	Read Replies (1) \| Respond to of 132070

A few minor points about CH: the Yahoo chart looks to me like it has been adjusted for the $3.14 distribution which occurred at the beginning of January (the price as of Nov. 28 on the chart is about $3 less than on my statements, for instance). The year's low appears to have been $15 in Jan., maybe lower intraday of course. The fund has had a pretty large (15%+) discount since I've owned it... I think 20% is not unusually large. I have little to add on the fundamentals; I think CH will react badly to another wave of disaster in Asia, and you gave the reasons why, but that's hardly guaranteed, and we're much closer to CH's bottom this year than say, Korean or Malaysian CEF's (or FPF) are to theirs, so arguably we're somewhat better protected on the downside. Czech Republic fund is doing OK ... you still in, Mike? Cheers, HB