WSJ B7 Profiting from Closed-End Funds without getting burned
Many individual investors are taking big risks in closed end funds. It is never a good idea to pay close to NAV and the premiums to NAV in 'yield' like bonds is a big danger sign.
Adams Express and Tri-Continental are ok but the discounts are actually about average even at 13% to 15%.
Please be mindful. Individual investor Americans are paying big premiums for leveraged funds exactly when leverage magnifies record duration risk in bonds.
The Fed cannot continue to offset the horrific Obama polices for another four years. Our Fed has done a remarkable job of managing/manipulating interest rates but their are side effects and managing is not controlling.
I am saying unequivocally that when Obama policy began a very large body of economists; of recognized accomplishment, gave his stated policy agenda a 59% of an F.
However, what Obama has actually chosen to do have been far worse.
The natural course of the American economy is and has always been growth. Sharp recessions result in sharp recoveries. Unless of course we have a willful child who refuses to make any changes to his agenda even as the results are the worst in our record.
Hopefully Romney wins as all our vast and low cost energy reserves in both natural gas and coal need to get into our economy and benefit average Americans with low cost is a man who does not stand in the way while telling Americans he is not.
Romney only need by honest and mature to allow our economy to resume its natural state of economic growth.