This was the only thing that I own that actually went up today!! Bill Gross is the master. He says prime will go to 1% there by making this fund very attractive. Bill has built in the default and got rid of the mortgage crap well before the crap hit the fan. SO I am in for the long term. Thanks Bill.
bought phk back in 2005. got turned on to it while on tour in iraq from smart money magazine article. never been dissapointed with this cef.
sold a number of residential apartments at top of the market in mass. during that time, and bought more phk with the proceeds. making more money and dont have to collect the rent now.
there will always be ups and downs in every market. bottom line for me phk has been returning more for me since ' 05 than anything else i have. repeated special dividends over the years. its real and its a keeper. drop in share price may be longer term with slow down, but should be looked at as just an extended buying op. jmho. thanks
not suggesting either of these funds, just pointing out the feature on the Morningstar site(M*) that let's you see how much a fund has made over a period of time. this is price+payouts. spare time project would be to go over to M* with a list of probable buys and see what history has to say.
Two points: 1) Sometime back, Mr. Gross also said that the Dow would go to 5000; I believe it was at about 10000 at the time. Wasn't really a very good prediction. I hope he is as correct on the 1% because... ...2) If the prime rate goes to 1% there would have to be a really serious, as in BAD, economic reason for it - I'm talking about a trip to "DEFAULT CITY", when both NAV and dividends go to hell in hand basket; best hope that scenario never plays out. Having said that, I'm an owner and will sit tight and keep a close watch on what the payout rate is versus the fund's income.
the market is down of credit and finacials worries, OK? today PHK is down a little. meanwhile, XLF, RHK(bank ETF's) and some bank funds(FF) are all up. maybe a little of the fear is going away? bargain hunters trying to buy the bottom of financials, maybe some short covering? still nice to see some numbers in the green.