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Eaton Vance Short Diversified I Message Board

  • brenda_wattkins brenda_wattkins Dec 23, 2005 10:01 PM Flag

    EVG ???

    How does this fund work.I heard about it tonight from a guy on PBS who said it is a good buy for the coming year.

    He said it pays monthly dividens.Is it true and how much?

    Can you trade in and out of this fund anytime?

    Please help.Yahoo has very ,very little info.

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    • For more info on closed end funds go to:
      h++p://www.closed-endfunds.com/

      pluses subed for t to avert the prying eyes of the Yahoo bots.

    • Actually Brenda, Yahoo provides a lot of information. You don't even have to look hard. If you view the security in the "Detailed" mode, various links are offered. Select "profile" and usually there is a link to the web site for the fund. This fund was not listed but a simple Yahoo search found this http://www.eatonvance.com/mutual_funds/fund_info_closed.asp?fund=EVG&h=3

      Recent dividend payments are listed there as well as other information you should know. If you are going to risk your money you will have to do some homework yourself.

      I saw the same NBR show and initially was impressed. It just seemed too good to be true which is always a warning sign. I did some research using Yahoo and the various fund web sites.

      NBR 12/23/05 Guest Thomas Herzfeld recommended five CEFs to buy for 2006. He claimed several times that they are low in December and rebound in January. I checked performance on four of the funds (EVG,HIX,JQC,SCD,) for the last two years. None of them had a significant January rebound. None of them offered any significant opportunity (during the following year) to sell above the late December price. In fact, all showed a significant down trend for 2004 and 2005. There was almost no opportunity to sell at a price above the December 2003 or 2004 price.

      Normally Paul Kangas has charts that show the percentage gain/loss of a guests previous recommendations. He did not do that this time. He displayed charts but gave no actual gain or loss numbers. The false claims of Mr. Herzfeld were left unchallenged.

      By his own admission, Mr. Herzfeld has been a big buyer over the last few weeks and has accumulated over a million shares. It was not clear if those are personal or TJH Advisors holdings. At any rate, he stands to gain a lot if NBR listeners move the prices of these securities higher. They are very thinly traded so that is a real possibility.

      Mr. Kangas is always a gentleman. I think sometimes he should get tough. High yields are worthless if capital is not preserved. An 8.8% dividend is not compensation for a 25% decrease in the asset value of the underlying security.

      The last show before Christmas only gave the viewers a lump of coal for a present. Shame on NBR and Herzfeld.

      At this point I am uncertain whether or not I will invest in any of the four funds. If I do, it will be significantly less than I had initially considered. I am retired on a very small pension and count on my investments for funding. I can use consistent income. But I will keep the following points in mind before I make any final decisions. I recommend you do the same.

      1. Never trust the "Talking Heads"
      2. A security can always decline in value.
      3. High yield is worthless if the value of the underlying security is not maintained.

      Good luck

      • 2 Replies to hnwi3
      • "I checked performance on four of the funds (EVG,HIX,JQC,SCD,) for the last two years. None of them had a significant January rebound. None of them offered any significant opportunity (during the following year) to sell above the late December price. In fact, all showed a significant down trend for 2004 and 2005. There was almost no opportunity to sell at a price above the December 2003 or 2004 price."
        I did the sme on Fri, including one that you missed, PBF. I came to the same conclusion. However, I think that the pop might be the div that was paid in Dec and Jan. If that's the case it's not much and putting too much money in these funds is risky since the trading vol is low.

      • Thomas Herzfeld has been on NBR every year for as long as I can remember. His record is so-so, but his recomendations almost always have a very short pop after his appearances. Use limits and don't chase. I've always wondered whether he's a pump 'n dump artist but have no way of knowing whether he sells into the pop.

    • I think the evg talked about on PBS is not the same as this BB. That EVG is an Eaton Vance closed-end fund. You can go to morningstar to find out more, also check out the closed-end fund forum there.
      v8

 
EVG
14.14Dec 18 4:02 PMEST

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