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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: straight life who wrote (36899)	8/24/2011 4:02:52 PM
From: Crossy	1 Recommendation Respond to of 37387

Well, I had the 1.00% at FFC in mind versus the 1.17% at PSF but I'm not sure whether PSF ratio is already annualized as the fund was initiated in 2010 .. we shall find out The 100bp expense ratio is pretty okay for this kind of specialty fund management you get with FFC. TER is the management fee and similar charges only. The cost of leverage is of course not part of TER. Anyway, I'd prefer levered preferred funds here, especially given the fact that interest rates are so low and the cost of leverage for FFC and its siblings is miniscule ... and LIBOR based rgrds CROSSY

To: straight life who wrote (36899)	1/26/2013 5:09:03 AM
From: Crossy	3 Recommendations Read Replies (1) \| Respond to of 37387

re: preferred CEFs (Close End Funds) and in particular Nyse: FFC yield seeking investors should start to seriously look at dropping those preferred CEFs with very high premium over NAV as the environment of finally rising rates on the long-end of the govt' bond market, coupled with the many ongoing redemptions (at par !), a trend that started 2012, should compress the yield potential of the group. I saw some PIMCO managed leveraged CEFs are trading at real big premiums. Additionally, Guggenheim fund NYSE :FFC (flaherty & Crumrine) is already showing a NAV premium in excess of 5%. All in all, a rebalance could bring some nice improvement to yield-optimization. IMHO interesting look some "mixed" CEFs like Cohen and Steers managed Nyse:RNP (REIT, preferreds) that are still trading below NAV, as well as convertible CEFs - which have a nice call option on market embeded (AVK, AGC, LCM) and finally the REIT segment looks better and better to me (RQI, NRO, RSO) best to you, CROSSY