Jim, all: here's a URL that lists a great variety of interesting closed-end funds. biz.yahoo.com
I wish I'd discovered some of these years ago. You'll find oil and gas trusts with 12% yield, a nice junk-bond fund, utilities funds, a couple of bluer-than-blue chip funds, a gold fund and a muni fund.
The closed end funds have huge advantages since they don't have a managemement fee, and a limit and stop loss can be put on them like a stock. Conversely it's possible to put a buy order at 5-10% below its current market price so you can pick them up when the market hits an air pocket without watching the screen every minute. There's another severely undervalued closed-end set offered by Royce, OTCM, FUND, RVT. OTCM is microcaps, the microcap sector is pathetically undervalued, it's possible to find stocks at .25 book if the real value of their bond holdings was examined.
Schwab cost me four times as much to buy a mutual fund held three months of less then a closed-end fund.
For a bluer-than-blue-chip smallcap fund check out FBR1X, FBR growth and income, only thirty stocks. He has blue-chips like berkshire hathaway, barra, jefferies, schwab, plus many stocks showing up on the new highs list this week. The fund manager picks stocks with high-yield bond portfolios, screaming businesses and insider buying, as well as a fair number whose stocks are internally hedged against market downturns or make money on volatility. FBR smallcap financial (FBRSX) is another great fund. For another blue-chip fund check out the Muhlenkamp fund, I heard him talk on CNBC and he is a blue-chip manager of bluer-than-blue-chip stocks. He is accumulating high-dividend low p/e stocks like F and stocks of the pension companies. Track what he is buying. |
