This is the time to take profit on this stock. When the market (both NYSE $ NASDAQ) comes back, FAX will drop below $4. At that time, we should buy it again. (around $3.8)
FAX moves with the Australian dollar. The AUD is still near its lows with respect to the US dollar. FAX has still a lot further up to go, provided the AUD cooperates. FAX's movement has nothing to do with the US markets.
So i guess what you are saying is that there is more currency risk reward here than interest rate or credit quality within this fund?I bought this fund because of it's high yield relitive to what i considared a conservative high quality portfollio.I also can see that this fund has stumbled along the way but with the credit quality of it's positions i have to wonder why???Did this fund change it's management style along the way after running into trouble with lower rated issues in it's portfollio or has the problem always been currency risk?