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Closed-End Income Funds: Why It’s Time to Buy Them
Pick a stock. Any stock. And invariably, one investor will argue it’s cheap. Another will say it’s expensive. Even in this panic-driven sell off. The problem, of course, is that no foolproof, infallible metric exists to determine who is right. Until it’s too late.
But the same is not true of closed-end income funds.
A first grader with a good grasp of addition and subtraction can tell whether one is cheap. Or expensive. Right now, they’re ridiculously cheap.
Since closed-end income funds issue a fixed number of shares, supply and demand determines market prices. That means it’s possible for such funds to trade…
16Oct2008 | Investment U | Comments Off | ContinuedThe Next Victim in the Banking Fiasco
A New Short Idea in the Banking Sector
“You know, you saw subprime go first, and then, on a slight lag, you saw home equity, and now in the lag, you’re seeing prime go. And it’s exactly the same loss factors. But remember, the components of where we are in the states…[are] very different. And we started doing more jumbos in ‘07, so a lot of that is — part of that is ‘07 vintage, which I think I told you at the time we were going to do and grow our balance sheet and gain share. And we were wrong.…
28Aug2008 | The Penny Sleuth | Comments Off | Continued
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