3 years ago I made a major investment in BIF as part of my retirement. Last year without any warning, they stopped all dividend payments and the stock dropped 50 percent.
THere is no indication if this company will ever come back to life. Anyone who puts a dime into this company is CRAZY!!!!!!~!
There is very little cash flow left after management and expenses. I don't believe that the Manager will ever liquidate any stocks or cause the NAV to decline. The management fee is based on NAV and the manager clears about $2MM a year. He can only benefit from retaining earnings.
At least you will have the peace of mind to know that you are no longer beholding to a (mis)management that consistently sells just under a 20% discount from NAV all the while being largely an echo of Buffett.
After taking care of themselves, the small outsiders come in a very poor second.