Pssst, buddy, want a huge discount? The closed end funds are selling at major league discounts after more than a year of crappy performance. I have long loved blue chip and well managed funds like GAM (the common, not the preferred, which I also love) and GAB at discounts that seem way too high, given the long term performance. But, on the more speculative side, New Germany, which specializes in midcap German stocks, is dirt cheap and will probably pay off well for a savvy speculator. -24% is a lot of discount.
HQL Life Sciences is one of my long time favorites and looks buyable here.
The last two names were funds I recommended in an article in "Kiplinger's" back in the mid 90s. They did great for me then and I think they can do it again.
But, make sure you have something with these discounts. There is a favorite crapshoot fund I like called RFR F.I.R.E Fund, which sells at a deep discount. The Fire stand for Finance, Insurance and Real Estate. Guess how well they've done the past couple of years? <G> My problem on this one is that they've lost nearly all of their assets and the total now in existence might be too small to allow the fund to stay open. It would be nice to make the discount with a closing, but the big payoff will be made when these stocks have a dead cat bounce. And, there is no certainty that the fund can sell the equities it owns, as they suck. <G> Also, the 4.57% mgt. fee is the highest I've ever seen. Might want to wait for a 50% discount on this bowwow. |
