|
|
TKF One
of my dad’s clients half a century ago was Bonomo’s Turkish Taffee.
This has nothing to do with the closed-end Turkish Fund suggested in
April at $5.47, and neither does the Firesign Theater’s iconic,
“Welcome to side six, as we learn three new words in Turkish: towel,
bath, border.”* But with TKF closing last night at $9.11, up
66%, I am am feeling Istanbullish and can’t resist the
associations. In April, the fund was selling at a tempting 17% discount
to its net asset value; today, at about half that. I still like it, but 66%
three-month gains make me nervous. I’d sell half and either buy it
back a few dollars lower on the next downdraft or – if there are no
downdrafts and it doubles from here – be happy I didn’t sell it all. *
“ ‘May I see your passport, please?’ ‘Why yes, I have
it right here.’ [Sound Effect: RRRRRRIP] ‘What are you doing?!
That was my passport!’ . . . ” USA Happy
birthday, America. To a first grader, you’re ancient – yet
you go back just 10 generations. Heck, my stepdad is more than 40% as old
as you. You’re a wonderful young experiment we must not allow to
fail. What
nicer way to kick off the July 4th weekend than with this 18-minute Presidential nod to
life, liberty, and the pursuit of happiness . . . to the proposition that all
of us – even our transgender friends who were invited to the East Room
– are created equal under the law? Have
a wonderful long weekend!
|
Webdesign by Marc Fest
©
1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009
Andrew Tobias