Consolidated Statement Of Assets, Liabilities And Shareholders' Equity (USD $) In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 62,737	$ 35,791
Investments, financial derivatives and repurchase agreements:
Investments at fair value (Cost-$1,234,203 and $1,232,484)	1,212,483	1,246,067
Financial derivatives-assets at fair value (Cost-$118,281 and $208,958)	102,871	201,335
Repurchase agreements (Cost-$15,750 and $25,684)	15,750	25,684
Total investments, financial derivatives and repurchase agreements	1,331,104	1,473,086
Deposits with dealers held as collateral	34,163	20,394
Receivable for securities sold	533,708	799,142
Interest and principal receivable	6,127	5,909
Other assets	216
Total Assets	1,968,055	2,334,322
LIABILITIES
Investments sold short at fair value (Proceeds-$459,013 and $775,782)	462,394	775,145
Financial derivatives-liabilities at fair value (Net Proceeds-$9,636 and $17,718)	27,040	21,030
Total investments and financial derivatives	489,434	796,175
Reverse repurchase agreements	896,210	777,760
Due to brokers on margin accounts	79,735	166,409
Payable for securities purchased	127,517	184,013
Accounts payable and accrued expenses	1,845	2,485
Base management fee payable	1,396	1,525
Incentive fee payable		1,422
Interest and dividends payable	1,002	861
Total Liabilities	1,597,139	1,930,650
SHAREHOLDERS' EQUITY	370,916	403,672
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,968,055	2,334,322
ANALYSIS OF SHAREHOLDERS' EQUITY:
Common shares, no par value, 100,000,000 shares authorized; (16,447,651 and 16,498,342 shares issued and outstanding)	362,047	394,918
Additional paid-in capital-LTIP units	8,869	8,754
Total Shareholders' Equity	$ 370,916	$ 403,672
PER SHARE INFORMATION:
Common shares	$ 22.55	$ 24.47