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


To: Stephen L. Smith who wrote (59564)5/17/1999 11:01:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
Steve, A guaranteed high payout ties the portfolio managers hands and puts the fund behind the 8-ball. Short term, it lowers the discount and has already done so. Long term, it is the opposite of dollar cost averaging. You sell more shares when stocks are low. I hate the concept.