Greater China Fund’s board had failed to respond to the needs of value-minded shareholders last year.
Dan Plettner
56 posts
I’d be a fool to compete with the hedge fund talent in knowing when Facebook is a buy or sell post-IPO.
As February gives way to March, I continue to feel very positive about the broad market’s prospects.
The question to ask, I think, is “If I were a ground squirrel just awakened from hibernation, would I like valuations today?”
Historically, excessive greed sets the stage for losses, and excessive fear sets the stage for outsized gains. And the fear is here.
Trying to trade in and out of the broad market is not something I seek to do. I’ll leave that for folks who think they are smarter than the market.
I recently contemplated Fiduciary / Claymore MLP Opportunity Fund (FMO), which I neither own, nor am I short. Still, there appears to be a lack of awareness about FMO structural inefficiency and recent governance history. I have no interest in being long this Closed-End Fund, even as its relative valuation has become less unattractive.
On Tuesday evening November 23rd 2010, Kayne Anderson Midstream/Energy Fund (KMF) announced the pricing of its Initial Public Offering (“IPO”). Closed End Fund IPOs are always priced at a premium to their Net Asset Value (“NAV”) so regardless how good or bad the investment is for its new shareholders, such an announcement always marks a particular marketing feat.
Closed End Fund IPOs are always priced at a premium to their Net Asset Value (“NAV”) so regardless how good or bad the investment is for its new shareholders, such an announcement always marks a particular marketing feat.