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

To: Knighty Tin who wrote (32226)	9/4/1998 12:55:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Mike, i know you don't like TA but you have to love CCI's chart- classic tough love ho ho ho Mike

To: Knighty Tin who wrote (32226)	9/6/1998 12:20:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

To All, Closed End Country Funds are d-i-r-t cheap. Yes, we know that all of those furrin' countries are going bankrupt and their stock markets, already down 60-90%, are still in for some rough times. But let's look at the other side of the coin: 1. Discounts are now in the 20-31% range on even some of the best managed funds in the world, assuming you don't take away points for not having more flexible investment constraints. If things continue to go badly, these funds are going to be pushed to open end giving us a windfall of the discounts. If things turn around, the sky is the limit. 2. China and Hong Kong will devalue, but the funds seen to already be priced for that eventuality. Ditto for Brazil and Argentina. Once those shoes hit the floor, the worst, economically, will be out in the open. 3. Some of these countries have almost no debt and/or intrinsically strong economies in the midst of cyclical contractions. Taiwan and Singapore are mighty economies, though their concentration on electronic products has and will hurt them. India is something of a world unto itself. I am not buying all these funds yet, but I plan to nibble on down days when there is doom and gloom: Asia Tigers-25%, Global Small Cap-24%, Asia Pacific-25%, Brazil-32%, Templeton Dragon-31%, Southern Africa-28%, Pakistan-35%, Latin Discovery-30%, Morgan Stanley Africa-29%, India Growth-34%. MB