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GlobalTrekker » Comments » FAM
More on FAM by GlobalTrekker
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35 comments
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Attractive and Secure Monthly CEF Distributions? [View article]
Where did you hear about the div cut? Even their public desk was unaware. The delayed dividend announcement was a tip off. Quite a big drop: 12% cut.
Joe Eqcome,
Like your posts and analysis, but I think there is a limit to this type of screening analysis. A much more valid approach would be back-testing these hypotheses on random time intervals and seeing if the short-term return was greater than the S&P or appropriate bond index over that interval. I really have doubts about most of these picks. DHF and FAM both look like a bunch of crap that have underperformed compared to their indices. It's just their discounts have fallen. DHF with a 3.1% management fee is appalling compared to JNK's 50 b.p.s fee. And FAM is a disaster waiting to happen at 29% leverage and a completely unjustifiable 3.6% management fee.