CAF is now trading at a 14% discount to NAV. The move yesterday looks like it was caused by one or 2 large sellers (perhaps margin sellers or hedge funds being closed down, lot of rumours of announcements of big funds closing on monday morning) who were then joined by smaller panic sellers wondering if MS US being down 40% meant bad things for CAF. I spoke to a MS investment management guy who repeatedly told me everything was fine and that MS could go bust and it would mean nothing for the CAF. He also then sent me an email confirming the same in writing. I guess there's no real telling what the mkt will do next week or if there will be more forced sellers around but the CAF price should not move based on MS US share price and it's now trading at a really material discount. The FXI was up 5% yesterday. All things being rational the CAF is a huge buy here and should get back at least to parity on monday.