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Alliancebernstein Income Fund Message Board

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  • hirsct hirsct Aug 20, 2005 11:25 AM Flag

    Anyone here actually own ACG?

    I had BKT as core holding for about 7 years and enjoyed uninterrupted payout through bubbles, busts, fed cuts, fed hikes, etc. Then the POS blows up and cuts divvy by 30%. I sell the thing in an emotional rage (my specialty) and I am done with cef's for the foreseeable future. If all the coupons in the portfolio are 4% and the payout is 8%, who makes up the difference? It was my understanding that it's through wise use of leverage and arbitrage. NOT. The dopes running these funds are MBA kids who hang out in NYC sipping $15 apple martinis. If they were really smart they'd start hedge funds and make real money.

    I'll start buying IMH and SAX at these prices. At least they're real businesses that I have some understanding of.

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