buy+win, Thank you for your correction. My post should not have mentioned any reference to Mario knowing what is going on with GAB's price. A more precise post would have been, "Mario sold right before the last dividend ex-date @ $6.82. Shortly after this date the price of GAB dropped to the low $6.30 range."
Mario Gabelli sold 20,000 shares of GAB right before the last dividend so if anyone knows what's going on with GAB it would be him I'd guess. I think he sold at about $6.82 per share. At today's price of $6.67 he seems to have been right on the money.
An alternative to riding with this fund as the the price goes down more is to sell it. Another alternative is to hold it and collect the dividends hoping it stops falling. Do you see any other choices?
How do you figure the GGN managers are going to prison? Do you really believe these guys will go to jail because they consistently lose money for investors? Let the buyer beware. This is not a blue chip equity fund and that can be their defense.