Young and Older Folk Portfolio Message Board

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Strategies & Market Trends : Young and Older Folk Portfolio

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To: macbolan who wrote (7889)	8/10/2024 8:55:56 PM
From: jritz0	Read Replies (2) of 21893

" I'm 50% out of GOF and will probably move out of it over the next few weeks. Its still amazing that it Market Cap is like 2 bln so many many folks are not afraid of that premium." I don't know how to put it other way than many CEF holders have no idea what they are purchasing. They see a shiny object (distribution yield) and are paying for fool's gold. GOF pays a 14.1% distribution that they have earn 18.3% to pay that distribution and they aren't earning anywhere near that. SABA is responsible for many of these higher unearned distributions. Like it or not, they are effective in reducing the fund discount, that is why I invest in their ETF of closed end funds: CEFS. I'm much more comfortable holding their ETF than many of the funds they target.

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