------20th anniversary------ 2) those days fax was just invented but not widely used. e-mail wasn't even dreamed of yet. people relied on telegraph for fast communication. so i sent out a few telegraphs to HK to redeem units that had no holdings in HK stocks. a few days later when the idiotic HK stock market authority re-opened the market, i redeemed everything. by then all the accumulated paper profit had shrunk to a miserable level. one of my funds had doubled in price within one year before the market crash. by the time i was able to sell it, it had come down to the original price at which i first bought it. before that october 19 "black monday" crash, the market had a huge 2-year bull run and i had caught a good portion of it. so after the big slide, i still managed to have made some profit. my return on investment for 1987, as of december 31, 1987, was about 15%.
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