Seeking Alpha

Kass a buyer of Muni CEFs

Comments (5)
  • Vertical Spread
    , contributor
    Comments (563) | Send Message
     
    What's the angle in these funds, duration? I see some in that list yielding 6% others 9%.
    17 Dec 2013, 01:06 PM Reply Like
  • phildevoyd
    , contributor
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    California municipals are doing well today. For instance, $NKX is up over 2% off a nearly 10% discount.
    By the way, several of the Nuveen municipals will roll up into $NAC sometime after the first of the year.
    17 Dec 2013, 01:18 PM Reply Like
  • heartky
    , contributor
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    How much leverage is being used?
    20 Dec 2013, 09:12 AM Reply Like
  • phildevoyd
    , contributor
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    http://bit.ly/1928Liv
    This site will answer any question about CEF's, although it is run by Nuveen.
    20 Dec 2013, 09:23 AM Reply Like
  • NYer1
    , contributor
    Comments (1570) | Send Message
     
    BKN has appreciated so much since this interview with Doug Kass that it is trading at a PREMIUM already.
    Pretty sure Kass would not be buying it here when other similar funds are still at discounts of 7-10% BELOW NAV and yielding a higher yield right now.
    Matter of fact, it would shock me if he doesn't sell it to capture the arbitrage opportunity in a swap by selling an over valued fund at a premium and buying another fund (or funds ) at discounts.
    23 Dec 2013, 08:35 AM Reply Like
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