on how you analyze selloff and how much more risk
we may experience beyond current level? I suppose
this is a pathetic request considering nobody could
have anticipated a break below 7 when interest rates
have been steady. This just seems like more than tax
loss selling. This thing is discounted to nav and just
has to be over sold. A few sizable buyers could
provide for a srong rebound? Can this fund buy back
shares and would the mgmt be motivated to stablize the
Yahoo limits the CEF's to which you can post.I
have posted on this board since post #10
(12-12-1997).If you care to read some of my old post I gave info
on my long history of owning ACG.It just happens
that today I don't feel ACG is the best CEF to own.I
still post here because all of us who invest in CEF's
have similar investment goals.Don't you agree?
An 8% long bond in that short a time would be a
terrible crisis. Have the feds printed that much money?
For me, the main downside is accounting problems if
you know what I mean. More likely we will see an 8%
bond in two years.
in convertible CE funds like CVT. It is holding
quite well in this environment and pays quarterly
dividend (about 9% per annum).
I have bought ACG
below $8 and intend to dollar cost average if NAV
drops. The yield is not bad even if it drops to 10% or
so, and there is always a chance of capital gains if
rate drops. AC manages other income funds, do you know
any web site that reviews/recommends CE funds in
Much appreciated the views expressed by
all of you.
During the last couple of weeks the spread
between the market price and NAV of this fund has
narrowed, down to a 3% premium. The risk has declined
because of this but there is still the risk of higher
interest rates . I wouldn't be surprised to see a yield of
8% on the long bond within a year or two. This could
bring this stock down to 6 something. Also, the
dividend could and probably should be cut here which
wouldn't help the stock price, but it would still have an
above average yield. Probably safe to dollar cost
average from here.
I think an X preceding and after the stock symbol
will work for some other closed end funds but not all
provide this service.
I don't know anything about
gsf, just acg. I am not very optimistic about acg for
the short term but longer term it may be ok if higher
rates now will bring about lower rates in the future.
You have to have a long term horizon here and
preferably reinvest the dividends.
tell me what where to find the symbols for other
closed end funds like ACG's ticker symbol XAGCX? Very
handy tool to have!
And do you follow GSF which
has a portfolio very similar to ACG which sells at
good discount to NAV and has been beaten up badly in
its market value? If so, what do you think of the
chances for future recovery of ACG and GSF?