richmcn

Why Central Securities Corporation Looks Attractive

CEF's at a discount are a valuation puzzle, a bit like a bond stripped of it's coupons. Upon reading the financial statements, you see interest and dividend income come in, and the expenses go out at about the same level, and three years in ten, the residual leftover is capital gains . . . is that really seeking alpha?

Opportunities in Undervalued Stocks

some if not most companies have artificially high book because they purchased assets recently, can you sell real estate acquired in the last 5 years for more?

CEF Muni Price Relationship with Muni Spread Highlights Current Wide Divergence

the nav's plunged on many cef's in october, but it was hard to tell in real time whether it was selling of the portfolio into a declining market to pare down leverage or mark to market

Baltic Dry Shipping Index: If It Really Is a Proxy for the Economy, We're in Trouble

I work in industry

After 911 industry trended down for about a year, mothballed production and so forth and then industrial demand picked up considerably as the plants came back on line

Land, labor, capital, technology and entrepeneurship are in a constant state of flux, sometimes there are long time lags but, demand postponed is demand pentup!

I honestly thought high oil would diminish the length of the supply chain, ie more manufacturing in US, however as fast as oil spiked up, it spiked down

How Oversold Are We?

I thought prudent man had some good points. Deleveraging is not what is going on in the market, more like troubled debt restructuring. Deleveraging is where you take your cash inflows and pay down your long term debt, legitimately. Troubled debt restructuring is where the borrower can't pay and you settle for pennies on the dollar. The credit market is discounting this like by x percent, the election uncertainties both national and local by y percent and the coming deep recession by z percent. The stock market gets the residual! So, caveat emptor. We are not out of the woods yet and able to go back to some sort of statistical normalcy and range bound trading.

What Will Happen to Closed End Funds?

further to argent's point
I have noticed the NAV for VKQ go down 14 13 12 11 10 etc
Market price follows it down
Does VKQ have to sell any bonds in their portfolio for forced redemptions or is the muni market getting written down
thanks
rich