Canadian General Investments' President Michael Smedley talks to The Wall Street Transcript.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 21, 2000 The Wall Street Transcript has published an in-depth interview with Michael Smedley Michael John Smedley (born October 28, 1941 in Yorkshire) is a former English first class cricketer. He played with Nottinghamshire from 1964 until 1979 and captained the club for his last 5 seasons. External links
in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. .TO), in which he talks at length about the company's future. The entire 1,800-word interview is available free online at http://www.twst.com/ceos.htm Smedley gives an overview of the fund, "CGI is a Canadian equities growth and income fund, which has the disadvantage or advantage of trading in the market at a discount, which currently is not much below 40%. This is one of the deepest of the extraordinary wide discounts that are available throughout the world of closed-end funds Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. at this time. Yet our NAV See navigation system and navigation bar. performance is outrunning more than half of our peers' funds in the comparable and much larger mutual fund sector in Canada." Smedley explains, "We are not labeling ourselves, and never have, value investors or growth investors. The long-term object is clearly growth with an attempt to outperform the market, which has generally been achieved. We are really quite eclectic. We are used to being much overweight in sectors. We use momentum plays. We look for take-out Take-out A cash surplus generated by the sale of one block of securities and the purchase of another, e.g., selling a block of bonds at 99 and buying another block at 95. Also, a bid made to a seller of a security that is designed (and generally agreed) to take the seller out of plays. In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently , we look for value in absolutely every way possible. And presently we are technology-oriented." Looking forward, Smedley states, "Our goal ahead has to be success dealing in a continuum of high volatility, a higher level of individual investor trading, in particular because of the new online facility and because of the huge change in the content of the market, and indeed our lives, through all the new communications technologies." This interview is part of a 92-page Brokers & Asset Managers Issue available at http://www.twst.com/info/info155.htm or by calling (212) 952-7433 The Wall Street Transcript is a premier weekly investment publication serving serious long-term investors Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. for over 37 years. The Wall Street Transcript has launched a new free service where investors can ask Canadian General Investments (or any public company) a question at http://www.qawire.com The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call (800) 246-7673. |
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