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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: MCsweet who wrote (6053)	2/17/1999 2:05:00 PM
From: Dan Meleney	Read Replies (1) \| Respond to of 78515

EQS discounted for a reason I owned Equus II a few years back. Here's what I recall about it: Nice discount to NAV Portfolio of illiquid investments High fees Management & shareholder concerns didn't seem to coincide Pressure to open end was constantly deflected by management I got out when they issued warrants. I sold the warrants (I got about $45 less $32 commission = $13 for it) and I sold the stock too. Otherwise I'd have had to exercise the warrant and add more of my own equity if I didn't want my share diluted. Not what I call shareholder-friendly management. Like other value investments, you need to ask "What will cause the discount to lessen?" I didn't see anything back then for EQS, and I doubt there is anything now. Dan