Close-ended New Germany Fund Likely To Open-end (CEF: GF)

The Street.com columnist James Altucher states that he thinks shareholders will be successful in getting the New Germany Fund (CEF: GF) to open-end this year. He didn't mention any reasons why he thinks this, though.

This recommendation has been approved by shareholders the past two years, and will most likely be approved again at the next shareholders' meeting. So far the board hasn't acted on the recommendations, but I agree with the article that this may be the year they do so. My reasoning isn't very scientific, but there is just something special about the number three. Third time's a charm, three strikes and you're out, and after three recommendations the board will listen to shareholders.

I've written before on why I think GF should be open-ended.

GF 1-yr chart: