According to Carl Delfeld of Chartwell Advisors, Thai Capital Fund Inc. (TF), a closed-end fund, has lost about 8% during the last two days. This is after it was up about 12%, so it is still marginally up for the year.
The coup in Thailand is unfortunate, but not unexpected. There have been 18 coups since constitutional monarchy formed in 1932. The last coup was in 1991. Hopefully the king will insist on a return to democracy as soon as possible.
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