That is prospectus.
This was December from Web Site
I know he has paid 7 cents for years, but this is still
a concern. Imagine price drop if it went to 6 cents.
I don't know nothin. Nobody's talked to me since 1982. All I know is this board has beaten to death the ROC case for GABUX--but remember this sports fans---during the free faal of 2008 ----this puppy kept right on chugging out it's $.07--- on time--like a German Train. Enjoy the ride--and go GABUX
Sirkel, howya doing?
Sure, I think you're wise... but I was quoting Fred's post there. You can thank him, too.
You ever get interested in owning some actual bonds, lemme know. Been loving most of mine during these market drops.
Steve, I stand corrected & acknowledge you did know the difference. What concerns me is that that you failed to nit-pick it this time when, as you document ,you always nit-pick it when the opportunity arises. GLTA -Looks like we need some.
That is true about Closed and Open end funds.
I worked for two mutual fund companies and ran some
funds. No big deal..
A sure way to get new money is to pay out a REALLY BIG
yield. Like Ants and Sugar. I found this fund on a simple
Screen for funds and High Yields at Schwab.com.
All the other (10 or so) high yielding funds got a high
yield due to the Normal December Payout of Capital Gains,
not a monthly Return of Capital.
There are over 8000 funds in the USA. I can say that
of the no load funds at Schwab with a high yield this
is the only one that does it with Return of Capital.
It is amazing the SEC lets them do this. It is different
but I guess legal. My CPA would argue that you want the
money working for you all year, and then get the capital
gain at year end. Maybe some day we will get a Capital Gain
also. Unlikely in this economy.
I bought some more today and my best friend bought at
seven figure some so we love it.
Macirion said: "You didn't before or you could not have resisted nit-picking it"
Really? I didn't know before, huh? Well, you might see some earlier posts of mine.
I know what he said but this is common parlance on these boards & he knows the difference and now so do you. You didn't before or you could not have resisted nit-picking it. Let's drop this meaningless chatter and find something more substantive to discuss. :-)
I'll try and be more careful to be precise in my use of words since a distribution and a dividend are not the same. I do think most readers place the word in the context and do understand it. But it could mislead precise readers like you. So I don't want to mislead you. We all know that a dividend and a distribution are not the same.
All dividends are distributions but not all distributions are dividends. When the context calls for that distinction I am usually very careful about it. It wasn't important in this case and I was sloppy. So now I will go to the whiteboard and write "I will not write dividend when I mean distribution" 100 times.....
Well, here's one of Fred's posts from this thread (the CAPS are my doing). Seems I've already humored him, which was really my original purpose (am not really criticizing)
"Just in case you didn't understand what I wrote. If the DIVIDEND rose to .08 cents a share then that means the underlying assets that GABUX owns have probably risen as well and the NAV would have likely risen.
But as was pointed out by another wise poster the NAV doesn't move up and down in response to the DIVIDEND. This is an open end mutual fund, not a CEF or ETF.
If there is a DIVIDEND change is a reflection of changes in the fund's income and its underlying assets, not investor sentiment."