Player Avatar XMFRedwood (92.73) Submitted: 9/19/2008 3:25:27 PM : Outperform Start Price: $3.34 TTF Score: +196.92

Political problems in Thailand have pushed down the market's valuation to 9x earnings and almost a 5% yield. This fund invests in Thailand and trades at a 14.5% discount to NAV when in recent years has traded at a 10-20% premium. Check out this link for the historical data:

Thailand has its share of problems but isn't as much of a basket case as is implied in the current valuation. Plus, with the discount to NAV you get the benefit of closure of that gap (over time).

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