Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Don Westermeyer who wrote (2276)	9/1/1998 10:40:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 4634

Don, I understand lots of CEF's are being pushed to go open end. The largest shareholder of TDF is on a crusade to open end that one. You can read about that crusade at newgatellp.com I actually prefer closed end funds when I'm looking at mutuals. Particularly in a country specific fund. Since they trade on the market and are marginable, I'm able to use investment into them for daytrades and as security for short sales. Since they aren't faced with redemptions when a situation like the one in Hong Kong they aren't forced to sell the underlying securities to meet the redemptions. have you seen the Def-14a for FAE yet? My observations (admittedly limited) to date have been that when a CEF puts up a vote to open end the board recommends against, and all shares that are not voted automatically count as votes against. I'm still not ready to buy HK yet. The risk of devaluation is real. It's why TDF with it's 11+% dividend yield isn't attractive to me. If the HK dollar is devalued, then the quality of that dividend is in question. Unfortunately, it also makes shorting TDF prohibitive. Barb