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Evaluating CEFs: A Look At BIF

Mar. 03, 2021 7:23 PM ETSRH Total Return Fund, Inc (STEW)23 Comments


  • BIF let's you buy BRK.B at a 15% or more discount.
  • I continue a series where I examine CEFs beyond the yield with a look at BIF that started in 2015 from a merger of several similar funds.
  • With a NAV that's 28.5% higher than 5 years ago, the distribution appears well supported.
  • Since a Do-it-yourself version of the fund does better, and the yield is moderate, there are better places for investors to put their money.
  • Looking for a helping hand in the market? Members of High Dividend Opportunities get exclusive ideas and guidance to navigate any climate. Get started today »
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I previously evaluated two CEFs from Cornerstone that I concluded were not supporting the distribution in the articles "How To Evaluate A CEF: A Look At CLM" and "Evaluating CEFs: A Look at CRF." I'm an

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This article was written by

PendragonY profile picture
The #1 Service for Income Investors and Retirees, +9% dividend yield.

Beginning in October of 2018 I began working with Rida Morwa and his team at HDO. I both write articles in collaboration with the HDO team and on my own. Contributing authors, if any, will be listed after the bullet points at the start of articles.

Until SA made me change it my profile picture is an actual picture of me and 4 of my siblings from 1971. I am 9, and the one in the greenish shirt saluting (to keep the sun out of my eyes). My siblings are 8 (brother at far right), 7 (blond sister), 6 (sister in the red shirt) and 3. My grandfather is holding my youngest brother. In this picture, my grandfather is about 2 years older than I currently am. I still look at it often, particularly when I am feeling old.

I have been a software engineer developing applications in various fields for over 30 years. I began investing in mutual funds for my 401(k) back in 1988.I started investing outside of my retirement account a little over 23 years ago. I used to follow a value oriented strategy, but after I saw how that worked  during the financial crisis, I began to switch over to a more income based approach. I have been an income investor since around 2009 and have only written income investor focused articles for SA.

I long ago switched my portfolio to a DGI strategy but more recently focused on the more immediate income implementation of that strategy..
One of my most profitable picks turned out to be Freddie Mac, which I originally chose because I liked the dividend and because I once worked there. When it first ran into problems I increased my holdings because it still looked like a good value to me. I eventually managed to buy several thousand shares at a cost of $0.50 (I knew that was a good value) and eventually exited the stock at a price that was $5 a share above my average share cost.
My biggest miss was when I sold out my 100 shares of Apple shortly after Steve Jobs returned but before he had done much to improve the companies outlook. You can see my holdings here :


I am currently contributing articles to Rida Morwa's service High Dividend Opportunities.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I do own shares in CVX which is in the DIY BIF portfolio I talk about in the aricle.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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