DISQUS

ak · 1 year ago

i think closed end funds are being liquidated like crazy, not sure if the hedge funds. any way you know of to figure out the quality of some of the funds which have a dramatic discount to nav? my understanding is that some are getting hit due to concerns they're overlevered. nonetheless, these closed end funds seem to be another place of opportunity in the current environment.
Josh Friedlander · 1 year ago

AK: No! They're getting hit for all kinds of reasons, not just leverage. Who will stay without a bonus? Redemption levels? There are too many moving pieces and not enough mandatory disclosure to make that kind of bet. Hedge funds don't have assets. They aren't like utility companies. You're betting on future performance. Why not take a shot with a good fund instead of trying to buy a "value" fund?
Josh Friedlander · 1 year ago

A couple of points:
They offered the WSJ for $99 last year before Murdoch took over.
Why would I want to subscribe to the Daily Market Noise? WSJ is still trying to call a bottom to the greatest margin call in human history. Get the FT.