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ETFNinja

ETFNinja
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  • A New Closed End Fund ETF Comes To Market [View article]
    Please explain this comment, there is no indication a lack of knowledge between an ETF and CEF. Please re-read the article to evaluate your own knowledge. If your complaint is that he is calling it a closed-end fund ETF instead of an ETF of CEFs, then great, you are a king of trolls.
    Jun 26 10:04 AM | 2 Likes Like |Link to Comment
  • CEF Weekly Review: Cornerstone Progressive Return Fund [View article]
    The cornerstone funds are ponzi schemes. Pay enormous unsustainable distributions which drive down NAVs. Portfolio managers' income decline. Raise more money via rights offerings to maintain their income and pay massive distributions.
    Jun 25 06:22 PM | 1 Like Like |Link to Comment
  • Bill Gross Is Buying Closed-End Funds Again [View article]
    I completely agree. As much as trading premiums/discounts is a great strategy (you can even be asset class agnostic for the most part), you must always keep your money invested somewhere because the divs are just too large in this market.
    Jun 17 12:28 PM | Likes Like |Link to Comment
  • Bill Gross Is Buying Closed-End Funds Again [View article]
    "He had great timing, since PTY has dropped well over 10% since then."

    Part of that premium decline is his own doing. He knows that once he sells out of a position that lemmings follow suit (and buys for that matter with the significant premium jump in PCN and discount tightening with PDI).

    The timing of his CEF buys/sells is always suspect (buys PHK in 12/10 and then pushes it on TV, premium climbs 20 points over time). He loves taking advantage of investors in his products, but I guess he can get away with it, after all he is the King (who has done terribly, but still the King I guess).
    Jun 17 09:31 AM | Likes Like |Link to Comment
  • 11 Reasons To Be Suspicious Of The SPDR Gold Trust And Why I Prefer The Central Gold Trust [View instapost]
    Some of your arguments are legitimate, other clearly aren't, which is why I imagine SA rejected this first version.

    Argument #5: Their objective is to reflect the performance for the ETF SHARES (like every other ETF in existence) because they cannot make guarantees for the market prices. GTU says it can simply hold and store because there are no redemptions. The main reason you will see deviations is because the NAV is on the London fixing, which closes at 3pm EST and GLD continues trading for another hour.

    Argument #6: Wow, this one is sound logic.

    Argument #7: Even you know this is an incorrect argument given the regulations for allocated vs. unallocated accounts.

    Argument #8: comparing Jason T. to a CEO of Coca Cola makes no sense. The CEO of Coca Cola has a direct impact on the success of the company, which is why it is important for him to put his skin in the game. Jason T. does not have an impact on the value of gold, so why does it matter what he chooses to use.

    Argument #9: really starting to reach here. Einhorn stated the primary reason for selling was because he could get cheaper storage costs than what GLD was paying. Paulson still has a boat load of exposure, but I guess that doesn't support your theory so let's just ignore it.

    Argument #10: It was proven, and CNBC later disclosed, that Bob wasn't in GLD's section of the HSBC vault.

    Argument #11 discredits your ability to compare an ETF to a CEF since you do not understand the difference in the structure of a CEF and an ETF.

    I really don't know why you are so surprised that SA blocked this version. Better luck next time.
    May 10 01:02 PM | Likes Like |Link to Comment
  • Determining The Perfect Time To Buy Closed-End Income Funds [View article]
    General comments on your list:
    1/2) ECF/BCV: Both have weak earnings and have no trading volume

    3) BSP: Reasonable fundamentals but it has no trading volume

    4) JGT: Earnings are terrible and has showed week performance historically, well below its NAV yield

    5) OXLC: not a CEF

    6) WIA: Decent fund, but no yield so its discount will never really tighten any time soon

    7) NHF: solid CEF, best on your list

    8) AGC, earnings are terrible, just as bad as ECF and BCV

    9) FTT: this has been a dog since its inception, pays too much for its underlying strategy and it has been terrible with its duration management, which is their biggest selling point

    10) SLA: very similar portfolio to BSP, but weaker earnings an no trading volume
    Feb 21 11:58 AM | Likes Like |Link to Comment
  • Determining The Perfect Time To Buy Closed-End Income Funds [View article]
    I was going to comment on this, thank you very much for taking care of it. The average discount for all CEFs is around 1%, at historically rich levels.

    The author clearly did minimal due diligence.
    Feb 21 11:51 AM | Likes Like |Link to Comment
COMMENTS STATS
7 Comments
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