WC Whiner

Cornerstone CEFs: What's In A Return?

CRF and CLM have a new competitor in the insensate-premium sweepstakes: CUBA. Traders have been pushing the reflexive buy button on rumors of Castro's demise. That stalwart fund was at an +85% premium yesterday and is up another 10% today, while CRF was at 94% on 12. Jan. and has come down 5% since. CUBA also eats over 300 bps a year in fees, while CRF takes "only" 150.

FD: no position in CUBA (I can't get shares to short), short CRF, short CLM

Crossposted to the original blogs.marketwatch.com/...