New NRO management is telling us nothing. When you call them, all you get is sorry stuff. No info. We need to know about the possible pending forced liquidation as the NAV falls and the share price goes down. Every day the price falls, it forces more property sales that reduce to future fund value. There is no end in sight. Management needs to step up and tell us they have a plan, doing nothing is not working.
But since this summer this fund has been selling at a 10%-20% discount until the last few days.
After yesterday and today it will be on the 20% side of that is my guess. I am not so sure this isn't just going back to a "normal 2008" discount.
By the way a 30% dicount has tended to be a buy this year. If you can get it it off, it then closes to the 10%-20% discount and you made not a bad little swing trade to help offset the pain of holding this fund.
I might add this market appears to be going into a goofy phase. I have other close end funds losing 3-5% every day and the nav is going up to going down 1%. The discounts appear to be expanding currently.