The comparison between FF and other CEFs is only one of the reasons why FF is selling at this great premium to NAV. After all, it's done better than other CEFs for a very long period of time. I think that it's just becoming better known; but memories are very short. If FF doesn't continue with it's fine performance, it's premium will disappear, and maybe it will drop down to the usual 5-10% discount. -Long term performance is most important to most investors (they say); but if short term performance suffers for any length of time, the premium will disappear. -But this is a very good, very long term hold for me. -Been with FF for about 4 years, and plan on staying much longer. -As long as N. Adams stays, I'll stay put.
It would seem that those who are waiting for the premium to disappear, might be waiting longer than they think. DNP has been carrying a 30+% premium for over THREE years. The value hunters there <and shorts> have had a long, unprofitable wait.