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IRL. I owned this guy a long time ago, before it was "new." I had to sell (and take just a little profit) when I didn't want to: divorce. As of Friday's close, it's carrying a -14.28% DISCOUNT to NAV. Any takers? Thoughts? Is the ER (2.66%) over the top, or is that (high) ER not unusual for such a CEF?
I think that most common investors, like you and me, do not need a country-specific fund. European funds -- like PRESX or MEURX -- would be fine and might be worth considering. In our own portfolio, we tend to own global funds -- like TIBIX, PQIIX, MSFAX and DGSCX -- to cover our foreign equity needs.
Single country CEFs = easy way to lose a lot of money very quickly. May as well go to Las Vegas; at least you get some free alcohol and entertainment for your gambling money.
I just have so many things on my potential shopping list, I just can't see owning a single country ETF, much less one in Europe. I remain at least long-term bullish on EM. In terms of CEFs trading at a discount, I'd rather FEO at about a 11.5% discount. I'm just really looking for long-term holdings and if I'm looking at something as a long-term holding, I have to have some sort of positive thesis.
Comments
I think that most common investors, like you and me, do not need a country-specific fund. European funds -- like PRESX or MEURX -- would be fine and might be worth considering. In our own portfolio, we tend to own global funds -- like TIBIX, PQIIX, MSFAX and DGSCX -- to cover our foreign equity needs.
Kevin