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

To: Zach E. who wrote (40328)	12/21/1998 4:05:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

cef discounts are published weekly in barron's

To: Zach E. who wrote (40328)	12/21/1998 5:55:00 PM
From: Knighty Tin	Respond to of 132070

Zach, Resorts International, the casino operator, was a stock trading sardine in the late 1970s, early 1980s. The co. had huge debt, a lousy mgt., mafia involvement, a crappy casino and was about to face huge competition from the likes of Donald Trump. The stock was at $40 when everyone realized they weren't going to make it. The short interest was huge, and short busters ran it all the way to $200 before finally letting it go bankrupt. A famous short seller of the day, Robert Wilson, told Barron's he was short Resorts and then went on an around the world tour. Communications were not nearly as good as they are today. He would call from some foreign land to see if he could afford to come home? <G> When he finally covered, the game was over. I call the Cefs themselves to get the latest annuals and quarterlies. Many have 800 lines where you can get the daily discount/premium. But many do not. For those, you have to read the numbers once a week in either Barron's or The Wall Street Journal. Sometimes, having been a portfolio manager, I can get one to take my call and update me on the premium/discount and other factors. But, most of the time they don't talk to "has beens." <G> MB