CEF
Sprott Physical Gold and Silver Trust
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Pimco PTY 3.70% Expense Ratio -- Am I reading this right?
Do you have CEF’s as part of your retirement portfolio?
Why not maximize Roth IRA with closed-end-funds at 7-12% yield with DRIP? (I already max 401k + 457b with SPY/VTI)
Company trading below net asset value (no debt, pure cash)
Company trading below net asset value (no debt, pure cash)
Question. BSTZ CEF Did you receive your June dividend?
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Additionally having MLPs in a Roth can force you to owe taxes on the income. on solution is to use a ETF or CEF that invests in MLPs. These funds convert the K1 to 1099 forms which are normal for most ETFs. I am using EMO in my roth.
Nice I didn’t know about CEF, thanks!
CEF is another solid investment from SPROTT if you believe in both gold and silver but want to hold both in a 2:1 ratio in one fund. Can also be cashed in like PHYS and PSLV. The writing is on the wall and I’ve been riding this train up the last year+ as the fed rack up an insurmountable debt load.
I've been retired for over 20 years and have using CEF's to supplement our pensions for years. By buying at 52 week lows and selling at 52 week highs I've been able to generate a portfolio that distributes over 10% per year while also increasing the overall value of the portfolio. You need to be patient but pounce when the time is right. It also requires holding cash in your account so you can set lots of limit buys. I generally only buy CEF's that are trading at 15% discount or more and make distributions at a least 8%. Sometimes you have to hold the shares for years before selling, but if they're generating >8% that's OK. You must also pay attention to the YTD NAV to make sure the CEF will be able to cover the distribution. Right now approaching year end is important. Some CEF's only pay a year end distribution - which can be huge if the NAV has gone up a lot creating either buying or selling opportunities considering when the distribution announcement is made and the date of the ex-div. Other CEF's that have not covered their monthly or quarterly distributions this year may be decreasing their distribution after the first of the year which might mean sell now and rebuy later. An announced drop in distribution may initiate panic selling. Good luck, there may be buying opportunities soon. btw, I tend to use [cefa.com](http://cefa.com) rather than [cefconnect.com](http://cefconnect.com)
Stock is portion of a company you buy you effectively become part owner of the company. The share price you paided for the stock moves up and down with he performance of the company. Profitable companes often pay out a portion of their profits as a dividend that pays you monthly or quarterly. ETF is basically a collection of stocks wrapped up in stock that is bought and sold like regular stock. Some ETF only invest in growth company stock that doesn't pay dividend or a very small one. Others invest only in stocks that pay a dividned. And some of dividend ETF don't invest in companes at all, they invest tin bonds (government and corperate), loan obligations (there are several types) And ETF are not the only investment fund type. There are also CEF and mutual funds.
CEF and SGOL are gold. GLD is more paper gold. I like GDXY for gold exposure plus yield. The gold royalty companies are great FNV WPM etc.
I use 3 and think it ends up being pretty close to the same, unless you have over 100m in the accounts. Where a fee might be .05 less on a CEF or maybe a mutual fund. You may also get options for different funds that aren't available for ppl from another brokerage. So basically pick your favorite interface and tools unless you have way to much money to even care. As long as it's one of the big 3 or 4.
Vol like equities returns like bonds - not something to be too crazy about in a core mix https://totalrealreturns.com/s/VFINX,VBMFX,USDOLLAR,CEF — unless you’re macro trading. There’s some fed papers floating around showing it’s not great unless you have 100 year horizons and others that break down recent events like why it didn’t buffer in 2020 and why it held up in a more recent downturn. But yeah investment wise for a mix - does it hold value ? Does it have expected returns? Ok. Momentum trading strategies and whatnot can capture this upside somewhat but that’s a tax heavy and tricky space even in public funds. I think the managed futures strats are still underperforming due to chaos (although not sure about carry which is frequently used as a low correlation hedge)
Same here, I have a little ETF called CEF that combines gold and silver and did some DCA action with it today. This dip in metals is going to turn out like the aftermath of liberation day was for stocks, a few get spooked then come back at it and run it up to new highs with a vengeance.
This site lists their "sell to us price": [https://www.moneymetals.com/pre-1965-90-silver-quarters/1394](https://www.moneymetals.com/pre-1965-90-silver-quarters/1394) Currently, they are buy 90% silver coins at $48.15 per ounce ($34.43 per $1 face value; divide the 34.43 by 0.715 (number of ounces in $1 of 90% coins) to get the price paid per troy ounce. Spot is at $52.16 (all numbers as I type) so they are 93% of spot. (I'm assuming you bout a $100 face value bag of 90% silver coins.) Physical is illiquid in that it is hard to sell, but it can still be sold but often with quite a bit more work. ETFs are most liquid. CEF is two thirds gold, one thid silver. You can also buy mining stock ETFs like RING.
FWIW, I'm retired. So half my money is in CDs aka fixed income. Then 25% money market. But I read here about the YouTube channel Armchair Income. Long story short, he invests in Closed End Funds ,(CEF) and BDC paying at least 8% dividend yield. So I have 25% in CEFs and BDCs. He shares his portfolio . I just pick the ones I like to invest. i will get $20k this year just from that.
I have been adding to THQ. A health care CEF selling at a discount with a 12% interest rate and monthly payouts. There is some return of capital in their distributions, but considering how poorly the sector has done in past year there should be more ST and LT gains in the future. Also adding opportunistically to BMY and MRK positions to include short puts and calls. Selling calls on PFE to unwind the big bag I have been holding since COVID.
Wow yesterday after hours was a perfect time to put my savings into CEF
Most of the CEF's universe is fixed income orientated and they benefit from \- Diversification against equities AND high yield at the same time \- Leverage and ability to tap into low interest rates and use that money to invest in higher yielding securities \- Ability to invest in more esoteric assets (aircraft financing, private debt, etc) Cons (as many have pointed out) \- Hard to find free sources that have good data on them \- Fees (as they are actively managed) \- Many good CEFs trade with a premium to discount \- Leverage \- Some Cefs can have ROC embedded in the distribution yield
Daily NAV is public for ETFs, and intraday indicative value as well, but it's essentially the same as their market price because they are open end funds. Side note, many CEFs publish daily NAV, but some publish less frequently. Sites like CEF connect don't highlight that lag; you need to take a look at the NAV history.
i maybe totally wrong here, based on my limited research, it's possible to gauge CEF's NAV (Net Asset Value), you want to get them while the price is trading with a **DISCOUNT** to the NAV. i dunno/not sure about NAV is offered for ETFs. And 1 more friendly suggestion, don't buy CEF only if yield is high, it's high for reasons.
I am not a fan, from my understanding it may allow the manager to raise cash and keep an investment in a company for a long period , meaning they want to raise cash and buy 10% of company ABC , enough to influence the BOD or even maybe get a BOD seat Its easier to do with a CEF as people cannot with draw, they can simply sell their shares . However they mostly seem to attract people chasing dividends , not saying all are bad but I would really need to have a compelling case to invest in one
I'm not sure you can generically assess the relative risk of a CEF vs. an ETF, as the holdings and strategy of every particular equity are always unique. One distinction of a CEF is the concept that its shares are traded according to market demand, which may be at either a discount or a premium to the internal, calculated value (NAV) of the CEF's assets. This is unlike a fund whose constituent components directly influence its share price. Other than this, CEFs span all industry sectors and may use different degrees of leverage to produce their distributions. They are fundamentally income oriented, even though they often show considerable long term capital appreciation as well. As such they naturally appeal to income investors rather than Boglehead types.
You can get equity like returns in credit (using structural leverage at the fund level) in BDC's and CEF's. Here are some websites that have that data to my awareness 1. Morningstar 2. [Latticetech.co](http://Latticetech.co) 3. [cefdata.com](http://cefdata.com)
I have a bunch of this too at a cost basis of around $82. I've been buying on the way down for the last year. Im thinking the payoff is four to seven years out. It isn't for the weak of heart, big declines and big increases. Ive also started buying SQM with the dividends Im getting from an energy CEF.
Appreciate the tip — UTG does look solid for income, though as a CEF it’s a bit different from ETFs like VOO/SCHD (leverage + premium/discount to NAV). I’d see it more as an income satellite, while keeping VOO as the core.
I hear you loud and clear. I hope the OP sees this. Here's a VIABLE alternative and if u do this u will make money. Take what you have and INVEST in CEF's. (closed end funds) There's 400- 500 of them out there. They all pay really good dividends. Acuire the book "Retirement Money Secrets" by Steve Selengut. It changed my life.
Buy BST for exposure to Anduril. Had a FA recommend to me almost a decade ago. Great CEF, with investments in private companies. A little pricey expense ratio though but worth it to me for steady payout, growth and exposure.
Would be nice, although coinbase was the last one, they may want to do something non crypto. Plus CEF and investment companies are excluded, one could make the argument that strategy is more like a CEF. Then again, BRK is on the SP500 and operates the same way.
RSG, ABBV, WMT Fund-wise BRW (Saba Capital Income & Opportunities Fund) is an interesting CEF that has done pretty well since Saba Capital took it over and changed the fund entirely in 2021. It lost 4% in 2022 when the market was tanking and lost comparatively less than the market when the market was tanking in 2025, yet has also done pretty well when the market has.
Sold gold etf too early this year. Nice profit but could have been much bigger. (Off set by knowing I sold pharma CEF before medical stocks tanked this year so not all sell decisions are bad)
If I could write to Roaring Kitty today, here is what I'd say. I've got a thesis for you that is ripe for the crowd-sourced creative disruption that was made famous with the GameStop short squeeze.There's a very small corner in the market that is unappreciated, overlooked and largely unknown. That is the \~500 traded issues called Closed End Funds. Unlke indiviudal stock issues, ETF's or mutual funds with huge volumes of share counts which in the case of Open End Mutual funds and ETFs can expand share count dynamically and daily, the total share count of every CEF is capped and fixed. CEFs were designed this way when introduced almost 100 years ago. Furthermore they typically sport very high yields, which are mostly paid monthly and historically trade at a discount to Net Asset Value. Think of buying $100 of assets for $80. 4 factors come into play in my thesis to make these CEFs a perfect storm to exploit for profit. (1) Knowing that the FED is predicted to lower interest rates between 1 and 3 times yet this year, we know for yield instruments, as yield goes down, NAV goes up. If the FED acts, this is built-in upside. (2) Who are the fastest growing group of investors? I'd posit that group is retirees stating to collect social security and rolling over there company 401K plans into their IRAs. For monthly cash hungry retirees, CEFs are TINA. (3) The Bull market is booming and P/E multiples are reaching nosebleed levels. All Bulls ccorrect or crash at some time. For long-time readers of Barrons know, when the well heeled investors cash-out they park their profits in CEFs. It's smart to grab a discounted asset, paying a high cash yield and wait for the Bear to finish his work. (4) Given the fixed share caps of CEFs, they are very hard to borrow. While there is some short selling, there isn't much volume so shorts get squeezed very quickly. This thesis posits that unlike GameStop's primary short squeeze focus, the CEF case is more of a corner-the-market play. If the 4 factors above develop , who wouldn't want to be standing tall on that corner before the crowd rushes over? If interested, read more about Closed End Funds at [www.cefconnect.com](http://www.cefconnect.com) to run screeners across the small 500 item universe of CEFs. For illustration compare symbol PDI with symbol PGZ for example of high yielding choices, one of which trades at a premium and the otehr trades at a discount.
There are many types of ETF, Most here are referring to index ETF. But there are also dividend ETF, covered call ETF, Collateral Loan obligation ETF, and credit ETFs. And then for most of these your would also find CEF (Closed End funds). CEF are more like investment businesses instead. ETF are more like mutual funds but listed on the stock exchanges like. CEFs are listed on exchanges like common stocks. Mutual funds are generally not listed on exchanges. Each has different uses and performance. So you can use a combination to suit any need. CEFs I like are ARDC 12% dividend yield, EIC 10%. UTF 7%, UTF7%. Some very good covered call ETFare QQQI 13% dividend yield, and SPYI 11%. These also take steps to reduce the tax you pay on the dividend you receive. They are great for generating income in a taxable acount.
time to get aggressive with the income funds on DRIP and hope its enough to turn off that DRIP in about 15 years SPYI, QQQI, JEPQ are staples of income investing. you could go CEF's with RQI and UTG or they could go full REGARD and hit up the YM Funds on DRIP for a quick snowball, i suggest AMZY, CONY and ULTY
by picking individual stocks, YES. Consistantly, No. But many people tiny of stack as companes like Apple vision and Chevron. And it is hard to find the companies that will score big each year. Many don't think of ETF and CEFs as stock But they do sell stock. And these investment companies are in many ways they are similar to companies They don't often grow like companies but they do often pay a higher dividend. So you don't need to consistently make 14% or more to retire. 8% works just fine if it is consistent and you consistently by more shares of the ETF or CEF every year. These funds pay cash dividends directly to you. So $100,000 at 8%Will pay you $8000 a year. So 1 million will earn you 80k a year of income at 8%. And right now there are funds that pay reliable 10% dividend I am currently investing in funds like QQQI 13% ARDC 12%, SPYI 11%, EIC 10%, PBDC 9% which all yield more than 8% and I am getting significant intcome from these funds. So the key to a comfortable retirement is to invest for income. Growth can give you very large returns but it is not consistent. And when you need income you have to sell it off with lowers your future long term future earnings. Dividend give your income now without sacrificing your long term earnings. I have a mix of dividend funds and growth funds. I use the dividend funds for income. The growth is used to maintain my income and serves as an emergency fund.
This is why I switched from growth index fund to dividend ETF and CEF fund. I am currently invited in QQQi 113% yield, ARDC 12%, SPYI 11%, EIC, 10%, PBDC 9%, SCYB 7% UTF 7%, UTG7%, PFFD 6%. Overall these funds produce 5K a month of income. Most goes to living expenses including healthcare I retired at 55). But 1K a month is reinvested which will help minimize inflation. When the dividends come in they go straight into a money market. fund. So I always have cash on hand. But I plan on keep a sizable amount in growth index for emergency needs, Unexpected large bills, and if needed I can harvest some growth and use that to increase my income as an inflation adjustment. The funds can also be used to replace any fund if it starts having issues.
That can happen with the stock of a company but not a ETF, CEF or mutual fund.
As I have repeatedly stated, it is speculative until new rules and guidance are published. Also - you may be misunderstanding the differences between a PE manager and a PE fund. It's going to be more important to have rules on fund leverage. I am guessing that it will be similar to how a public CEF which uses leverage work today. Leverage is already present in publicly traded funds. What I would be watching for is that the vast majority of private market funds today are not '40 Act funds. I actually don't even know if I've ever seen a '40 Act PE fund. So that itself will be interesting to see how regulators figure that out. I also took a quick look through the post. I have mentioned liquidity as a risk. The other risk which I assumed people understood but no one has mentioned is price discovery of equity assets. I think that debt assets will be simpler to price simply based on credit quality and duration. But I do think that price discovery will be a challenge for any fund that plans to hold private equity. A TDF normally has multiple sub-advisers managing different sleeves - I would expect that if a TDF holds any private market assets whether it's debt or equity - it will simply be some smaller allocation relative to the other sleeves which is managed by a PE manager. It's unlikely that a TDF would fail simply due to a significant draw-down of a single sleeve.
Would something like Sprott PHYS/PSLV/CEF be safe from that? Since it’s (supposedly) physically backed?
With CD the maximum yield you are likely going to find is about 6%. However with a und like QQQI you can get a yield of 13%. And there are lot of choices in the 6 to 9% ranks for dividend ETF or CEF funds. And it is also possible to find yields win the 20% range or higher. I am investing in QQQI 13%, ARDC 12%, SPYI 11%, EIC 10%, PBDC 9%, RLTY 8%, UTF / UTG / scab 7%, and PFFD 6%. And unlike CD they don't expire. meaning once you have built the portfolio the dividneds will continue to come in indefinitely. I currently get 5K a month of dividend income and I am retired.
Gambling is more about the person thant the asset. Many people invest in the S&P500 index. Most retirment accounts today have it. But in these account the share of the fund just sit in the account and don't do much. Th dividned from the invest is reinvested while the share price growths with the market. This is not bambling because teh ahare are just sting in an account of years. Gambling occurs when people try to buy and sell to get more money. often resulting in trying to time the market, short selling, or ther risky activity, People that resort to these risky trading activities often do no better or worse than investors that buy and hold their stock, ETF, CEF mutual funds or bonds .
Scottish Mortgage is an aggressive growth investment trust in the UK that has had a significant amount of its portfolio in private companies over the years. It's exciting when it's 2020/21, it's not so great when it's 2022 - and that fund is still not back to where it was at the 2021 peak. They also lost recently with their private investment in Northvolt, which was a 0. DXYZ is a CEF that is invested in private companies that is trading at about a 500% premium over NAV. A recession happens and lets say that premium goes from 500% to 200% or even closer to 0% - could easily happen. Some of the things out there are also interval funds, where you can only redeem quarterly (and there's only a limited amount of redemptions per quarter, if you aren't ahead in the line, you might have to wait until next quarter.) Interval funds can often gate redemptions entirely, too. This sort of stuff works well when everything is awesome with the markets, but if there's another 2022 (or to a lesser degree, even an early 2025) this kind of thing is getting obliterated.
57M. Around 50% in dividend holdings (BDC, CEF, CLO, MLP, REIT, CC funds). 20% in four fund ETF portfolio. 30% in concentrated growth stocks on which I trade options; CSPs, CCs spreads. As I get closer to retirement in a couple of years, I'm adding more to the dividend portfolio with the aim to be around 60/20/20.
If you have Volatility Indigestion, sell equities and maybe try an Income Factory approach by Steven Bavaria, invest in CEF's, BDCs, MREITs, MLPs, CLOs, etc and get 1-2% capital appreciation each year but 8-10% dividends each year. A smoother ride, and roughly same returns, Net as sp500.
About 85% of my portfolio is dedicated to selling CC’s and CSP’s. The other 15% of my portfolio is in high dividend paying CEF’s, BDC’s, and mReits that don’t trade options or premiums are nothing. I have already made 40k in closed options and have 19.8k in open options expiring this year. And we are only in July. I’ve been selling options for 5 years and I wish I would have discovered selling options 20 years ago.
Hood has started in europe selling US etfs through tokens/blockchain, which is just a fancy way of sayint that ur buying a CEF, which isnt protected by anyone but a US custodian that can commit fraud or go bankrupt. It also means its not protected by EU law if hood ever goes out of business. Vlad doing vlad things. The whole gamestop saga removing the buy button was one thing, but he continues to be a absolute horrible person doing shady shit.
I bought bullion in 2001 and haven't transacted since. At the time, physical PM ETFs (like SGOL, CEF and AAAU) didn't exist. The gold has kept up with the S&P 500 over the past 24 years, the much smaller silver investment has lagged. Physical metals are insurance against collapse of the paper metals markets, and more generally, fiat currencies. The metal futures exchanges underlying the paper ETFs only have reserves covering a tiny fraction of the value of ETFs that hold only futures contracts (GLD, IAU, SLV). In the past couple of years, a number of "whales" have stood for delivery on the LME and COMEX, withdrawing gold and silver to be transferred to their own vaults. This is frowned upon by the exchanges, but for foreign central banks or billionaires, can be a cost effective way to accumulate or to arbitrage between the exchanges. The interval between standing for delivery and actual delivery has lengthened from days to months. Ultimately, when there's *no* physical underlying the futures exchanges, the ruse will be up. What's the value of GLD or IAU then? I think selected precious metals miners are better investments than physical PMs now, and that where my interest has been for the past year. I'm planning on selling a portion of the gold (eagles) and all the silver (pre-1964 coins) and when the prices hit targets well above current, more for rebalancing than for need. And yes, one can walk into any coin shop and get a price near spot for them. I bought for small premiums above spot (\~$280 and 4.80/oz, respectively) 24 years ago, but at present, coin shop bids above spot are a pipe dream, due to short term market imbalances (Americans are liquidating their holdings, even as Chinese and Indians accumulate). Should individual investor demand return in the US (as during the pandemic and in past PM cycles), the premiums will as well.
IFN, the India Fund, is an interesting CEF that has a pretty long history of payouts. ILF, the iShares Latin America Fund, is paying north of 6% dividends. There is a fund for Argentina, but it is, I believe 20% Mercado Libre. Just buy the stock. I think a better diversifier is IDVO. This is the only one I would consider a core holding. The others are like spices - good in small amounts. If you want distressed and out of favor, go with DVYE, which is emerging markets dividend payers.
I put 26% of my annual income into my Roth 401K. Fill up the max $23.5K 401K limit, then the rest goes into Megabackdoor Roth. Mostly put it in a variety of ETF's (QQQM, XLK, SMH). I also have a rental that I put any after-tax rent (2k/month) into a CEF (BST) that pays a monthly dividend at an 8% annual rate. Trying to generate some additional stream of cash.
Dividend irrelevance theory is really meant to apply to equities. It really shouldn't be used when discussing a fixed income CEF like GOF.
$GDX for trading. $CEF for holding long term I like the gold royalty companies for long term hold, you get exposure to gold plus some interest income. Look at $FNV and $WPM for examples
ETFs and CETS are listed like stocks and are traded like [stocks.Mutual](http://stocks.Mutual) funds are not traded on exchanges. So you should have access to ETF and CEF funds. But many US ETFs and CEFs are simply not available on Europen exchanges. So somehow you need to get access to US changes.
I am not a financial advisor by any means, and certainly not qualified to give advice. But I can offer some suggestions. Does your 401k have a brokerage window? If not, start campaigning for one. In my experience (two companies) HR will resist but senior management will be on board. The purpose of a brokerage window is not to actively trade, but rather to get a broader selection. As I approached retirement, I used mine to hold actual bonds, preferred shares, defined maturity bond ETFs and even a couple of Closed End Funds (CEF). I suggest picking up *The Bond Book* by Annette Thau. It is surprisingly readable. It is also a bit dated, but bonds do not change much so the only "not in there" that I see is the existence of defined maturity bond ETFs, which would be an excellent tool to use in 401k brokerage window to build out a bond ladder. Which leads too: Consider using a bond ladder. Bond funds are fine during the accumulation phase, but IMO actual bonds held to maturity provide a much more stable platform as one approaches and enters retirement. Consider TIPS. Buy the actual bonds, plan to hold to maturity. General advice is to hold these in a retirement account because of tax issues. However there are now defined maturity bond ETFs using TIPS, which simplifies the tax issues. Buy with limit orders (since they are buy & hold investments they are thinly traded), set dividend reinvestment ON, let run to liquidation. The problem with open ended TIPS funds is that TIPS valuations are very sensitive to interest rate changes, making them more volatile than you would expect from a bond fund. Thus the "buy the bond, hold to maturity" approach. Consider setting up a bond tent. This is an idea that flies against conventional wisdom, but given your age, market valuations and the political situation it might be a good idea. Or not -- YMMV. Two more reading suggestions. Wade Pfau, who is well qualified, has published a number of books on retirement planning. And then there is Michael McClung's opus, *Living Off Your Money". He goes very deep and I opted for a simpler strategy, but it is well worth the read even if you keep to the shallow end of the pool. Best of luck.
you can get the book The Income Factory. And has several incomes producing portfolios that could generate income from 60K up to about 90K fro the 1 Million you have to work with. The Author has invested his own money this way and managed the fund of some friends. He has a lis too 68 funds listed in th the book. Mostly from ETF and CEF (Closed End funds) There is also Armchair investor on you tube. similar investing style and he has a a fund list of about 38 funds he likes. You can do quite well on the income side with funds like PFFA6% yield, PBDC 8%, SsPYI 11%, ARDC 12%, QQQI at 13%. I am not a fan of gold so I don't have any recomendations there. And the low yields of bonds is not attractive to me.
I like ADX, the Adams Diversified Equity CEF. It has consistently kept up with SPY, pays out 8%, and commonly runs at a discount. If held in a tax free account you can use the DDRP to reinvest cheaply without paying taxes. Most CEFs don’t keep up with the SP500 but this one does. And has been around since the late 1920s, pretty much the oldest investment company.
PSLV is a physical Silver fund that buys and stores Silver at the Royal Canadian mint in Ottawa, CEF is similar but 1/3 is physical Gold. They are not derivatives and are held in Canada. They are not stocks of bonds and are immune to US shenanigans and inflation. I recommend also holding some metals with you, at home, it's easy to hide.
For active ETF I would go with PBDC 9% yield, SPYI 11%, QQQI 13% these either pick the best investments or manage trading activity trading activity to generate income. Other than ETF there are CEF (very similar) like ARDC 12% yield, UTF 7%, GLU7%.
A CEF typically trades at a discount to NAV, so you might want to check where the price is relative to NAV first. There is a method to doing this, but it requires a NASDAQ level 2 access which allows you to see the order book, which you will not have. It also somewhat depends on how quickly you need to sell. My suggestion is to lay out 5000 to start with a limit on the bid side and see how it reacts. If the price drops after an execution, keep the order size small with tight limits. If you are not in a rush to sell, just hang out on the offered side with maybe 5-10k, and maybe another 5k a quarter above the offer. If you try to puke out too muchball at once, buyers will back away in the face of supply.
increasingly interested in CEF and SPPP tickers, physical holdings for Gold / Silver and Platinum / Palladium respectively.
PFF invest in preferred shares which typically pay a higher yield. They have been in exstiance since before I was born( I am 53) Very stable. SCYB invest in high yield corporate bonds. There is a risk that the company issuing the bond default on the bond. But the average default rate is 4%. per year. So iit a fund manager buys bonds in 100 different companies the yield may fluctuate +/-2% per years. So despite the term "junk bonds" they have been a common investment for decades. PBDC were created by a law passed 40 years ago. These companes are required to pay out 90% of the earning So the yield is always high. Yet these companies often pay rather stable high yields. PBDC invests in the best of these copies. ARDC is a closed end fund which helps explain its high yield CEF unlike ETF have fixed number of shares, while ETFs issue new shares as the fund grows. ARDChas been paying a dividned for about 12 years. SPYI and QQQI are covered call funds while covered call funds are new covered calls have been in use for about 40years. Covered call funds have yields from about 5% unto (are you stilling down?) 100%. They yield can go up or down with the market. SPYI and QQQI are the ones I like the best. You have to look for high yield funds. If you don't look for them you won't see them. And there are a lot of people out there that just automatically list anything with a yield higher than government bonds as risky and just ignore them. If you go to R/ dividned you will see them more often than you do here. A good book is The Income Factory. The author lists about68 CEF that can be used for dividned investing. The Armchair income. Youtubechannel also focusses on this investment strategy. In my opinion the irskiest funds are those that pay very high yields (100%)or those that don't pay a dividend. The least risky investments are somewhere between these two extremes. To make a fund you need a lot of money to get it started. The means to start a fund you need a loan. Bank and other institutions will not loan money it they don't believe the fund will not last. give all the fund out there. I would say to stable yield range is about 1% to 20%.
Right now most of my pasive income comes from some individual stocks but most comes from ETF PFF 6%yield, SCYB 7%, PBDC 9%, and SPYI 11%. These are all in a taxable account. I won't be able to access my retirment accounts for about 5 years. There is another type of fund called Closed End Fund (CEF) In my Roth I just added my first CEF, ARDC 12% yield. ARDC invests in Collateral loan obligations. and other types of loan obligations. CEF are similar to ETF except in ETF the number of shares grows as more people invest in the fund. In CEFs the number of shares are fixed so that can cause teh yeild per star to be higher than many ETFs. .
Well, I looked at the full dividend history and it's not linearly defined. So I assume it's not paying 100% of the bond's coupons to the investors. Maybe it is though. The general question is whether the yields are high because of the market's bond pricing and such or are they high based on policy like a CEF?
The macro market narrative / sentiment on US markets is as bad as it gets. The talk of the fall of “American Exceptionalism” and the US dollar devaluation are the most extreme possible outcomes for any country… (bond and treasury break down as well, inflation, stagflation, decrease in gdp projections, market uncertainty, recession…) I do not think worst case plays out, but what do I know? Not saying it won’t play out, but if it does go worst case, there is really not much you can do about beyond invest in an international equity index fund. I looked into buying foreign currency (even had a consultation with a major us bank rep). Couldn’t find a way to do it… The way I see it is simple. Stock prices, especially p/e of mag 7, were getting inflated. The tariffs gave the macro market an excuse to correct. The fear and uncertainty have reached pandemic and depression levels…. Brilliant companies lost 15-50% off all time highs. I think the correction was healthy and needed. I bought into the weakness…. Also shifted 30% of self managed cash into a Blackrock CEF paying +8% at current prices ex dividend monthly as the liberation of stock prices played out. If the fear of the dollar devaluing and fall of American Exceptionalism does happen, we are f-ed no matter what. If you are expecting the downfall of the dollar and US economy, I think you are missing an opportunity. Probably wrong, but when everyone is saying the sky is falling, they have been wrong every time…
I have used multiple brokerages. I have chase private client too… that doesn’t mean much. Free bank wires and reimbursement on ATM fees and access to a private banker that likely doesn’t have any fundamental understanding of how the central banking system works or how fed policy affects community/commercial banking. Mine told me I couldn’t do a backdoor Roth IRA at chase and I has to educate them on what that was/meant. I also have the highest tier for US bank’s smartly loyalty program. Its equally not impressive and its self-directed brokerage option even worse than chase’s. Back to the brokerages… Having used chase, us bank, fidelity, and interactive brokers to place orders, including on thinly traded securities with wider spreads (preferreds and close ended state-specific municipal bond funds) and I am wholly convinced that chase and us bank send client order’s to their own internal dark pools where their internal trading teams just scalp clients’ orders all day with shit fills and wide spreads. I am talking differences on fills of $5/share on $1150 preferreds with a $10 wide spread when doing tests and using market orders (typically would never do that on wide spreads/thinly traded securities) and differences on fill of $0.04/share on $12/share CEF. I now trust fidelity and IBKR, I have lost all faith in chase and US bank’s brokerages. I will only hold enough assets at the banks to maintain free bank wires and reimbursed ATM fees at chase and enough to get uncapped 4% cash back credit card at US bank, but I will never use them as my primary brokerage or custodians of assets. For people that are using robinhood… there is a reason its free. They sell the orderflow and your orders go to a dark pools, where armies of PhDs in stats, physics, and finance work to come up with algorithms to pick a few cents off each trade on average. I am almost certain you are getting worse fills on market orders and seeing wider spreads than what exists on exchanges. You are the product. But also, stop speculating and start investing (which means understanding what you are buying and holdingnit for years).
I own GLD and GDX but would have no problems with CEF if I wanted balanced gold and silver exposure. CEF is gold and silver in a vault in Canada that's audited annually. I believe that GLD owns gold on a London exchange. GDX is ownership in gold miners. These are known as forms of paper gold because there's detachment from you and the gold. For physical ownership, you could look for a local coin shop (I'm not into shipping high-value items), but, I'd probably buy it from Costco these days, ideally in a state that doesn't have sales taxes.
It sounds like you are market timing and chasing momentum. Which would be fine as far as it goes, however asking even well meaning strangers on a random subreddit isn't. Set up a four fund portfolio since you want metal exposure. VTI, VXUS, BNDW, and CEF. 25% in each and rebalance to that allocation once a year. Other than this yearly check-in forget the market and enjoy your travels.
[CEF](https://sprott.com/investment-strategies/exchange-listed-products/physical-bullion-funds/gold-and-silver/)
I'm 71, as of January 20th to February 1, I have converted my equities to over 50% cash, gold and hedge type CEF.
I would disagree on your point #2. Lutnick wanted the Treasury Secretary job and I don't think that Congress would have approved him as he was a middling guy at a middling bank. Bessent, seen as a serious guy and the adult in the room, got the job instead. And Wall St and Congress are pretty happy with him. I heard that in the discussions, Lutnick wanted to go ahead with the tariffs and Bessent wanted to pause them. Bessent would have been the person to brief Trump on the bond problems. If you are concerned with the dollar, then I'd recommend either keeping some money in foreign bank accounts or owning physical gold and silver, say 5 percent of your invest-able assets. You could also hold paper gold in instruments like CEF, GLD or gold miners like Newmont, or a miner ETF like GDX. Maintaining foreign bank accounts is a pain in the neck because there are banks around the world that don't care to deal with the regulatory requirements of the Treasury on US residents with overseas bank accounts. You have to file annual FBAR forms and fill out a special section on your income tax returns too. But it does offer some protection for a portion of your assets. The US Dollar index dropped to the 70s within the past 25 years and it's a bit over 100 right now. I think that the high was about 122-124, either in the 1990s or early 2000s. So it has taken a pretty big hit in the past and it will likely do so in the future. Jim Rickards talks about it being only a matter of time when we have a multiple reserve currencies and the dollar will still participate and it will take some time for other countries to set up the infrastructure. I understand that there are local trading blocs and, of course, BRICS. I think that BRICS is accelerating their timeline because of Trump.
There is already strange twists to this downturn that may forewarn of trouble. \-The long bond yields have risen sharply - with the most vol. since Covid. They should be sinking as money seeks safety. \-The muni bonds market is tanking because there are no bids. Nuveen CEF Muni funds dropped 3% today - muni bonds! \-Good income stocks - say ARCC - have not recovered after a brief morning rise. I think foreign money is draining from the system as escape the Orange Menace.
I bought PHYS and CEF (which contains both the gold and silver exposure) both ETFs are physical Gold and Silver (for CEF) holdings.
Not sure why I can't share screenshots here. But this is my portfolio now: × 500 shares of BKSY × 200 units of PHYS × 100 units of CEF × 5 VIX $23 Calls with exp 9th Apr 2025 (I bought these today while most were celebrating and thinking of steak) -CHF 20,000 Cash -USD 34,500 Cash
CEF - I've owned it for years, bought it at $12
Dividend CEFs. Find funds trading at a discount that are trading below their average price and have a stable dividend history. My portfolio pays 10% and has growth with dividends not invested, if the market dips I don't care, I still get my payout and can hold it indefinitely. Investing in individual stocks is speculative, you are hoping they increase to generate the return. I invest in funds designed to give investors stable income. You will never hit it big with income funds like you can stocks, but you will also not lose your shirt if you make smart buys. A non CEF fund I recommend is the Fidelity high income floating rate fund, trades in a narrow range and pays a 7.5% monthly dividend.
Anyone buy CEF's? Saw VVR take a big dick this week and came back
You can look into closed end funds CEF. They carry some risk. I bought a bunch when interest rates were super high and I'm getting about 10% income on the 6 I bought plus appreciation when rates go lower. I used about 1/6th of my portfolio and the bought 6 different ones to diversify since they are risky, I looked at 10-20 year charts to see how well they held up and how they react to interest rate changes. PFE Pfizer is paying a 6% dividend at the moment. D dominion energy out of Virginia pays nearly 5%.
CEF's at a discount to NAV yielding 10%
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Understandable why you would be concerned about risk. I have been researching in, and investing in what I call "distribution focused" issues. So, they could be: Mutual Funds, ETF's or CEF's, etc. Regardless, they are issues that run the gamut from making distributions (dividends, short-term capital gains, long-term capital gains, return of capital or interest) from stocks, from bonds (corporate or municipal), treasuries, or a combination of a number of those. My most recent purchases were straight treasuries, which earn about 4.4%. But, I have issues that are high-yield, from 7% up to 10% and issues that are more conservative, around 5%.
Pay off all high yield debt first (credit cards, auto loans, school loans depending on the rate). If you have a lower rate on your mortgage - like 3-4% then don’t worry about paying it down (your money invested will return more than the interest savings). If your rate is like 7% then consider paying some down to keep your monthly payments manageable. Take the remainder and max out your Roth IRA for 2024 and 2025 and put remainder in a taxable brokerage. I recommend Fidelity. Each year thereafter move over additional money into the IRA up to the max amount. Set $30k aside in a cash MM fund in the taxable brokerage account for taxes, emergencies, or bottom buying opportunities. Invest remainder in the IRA and taxable brokerage 60 / 40 into an equity ETF and a bond ETF respectively. I personally like VO (mid cap equity ETF) and PDI (actively managed multi-strat bond CEF). Rebalance quarterly. This strategy should yield 10-13%. Over 30 years that should be $10+ million.
You have to watch the full version of the videos, perhaps. There is one with Buffet, but usually only one blurb is played/cited... "He" buys the one stock --- "everybody else" buys a broad market etf. As he explains, the average person can NOT determine which is the best company to buy. On the other hand, as a professional analyst, Buffet says he can determine the best company so he buys the one. He has no reason to buy another 499 companies since they are worse than the one. That becomes diWORSEsification. As with all guidances/rules, etc one needs to understand the underlying assumptions and situations where it applies. To your point about diversification being a problem --- we've had that right now. Because the Magnificent 7 have taken off and have been the cause of the bulk of the "market" gains, the other companies have been providing a huge drag on etf performances. I earlier rotated out of IYW (a pure tech etf) and into SCHG (a large cap growth fund) because schg was doing vastly better than IYW -- very abnormal from my point of view. Public articles have written about this situation / phenonmenon. I THINK that differing methodologies might be helpful. For example, SCHG SCHD VFLO use three different methodologies for their index, but are almost entirely mutually independent. Hm... I agree with your point that diversification can bring about a false sense of security. Only in a large market crash, would everything come down. This is why I invest in other securities and assets. For example, Closed Ended Funds (CEF), which seem to be taboo here on Reddit as its all Vanguard etfs), can/may provide a differing exposure especially when focused on debt. Preferred shares and baby bonds as well area a different play. For others, I believe thats why they invest in gold --- its not what I hear them say but whatever. Hope that helps. Good luck.
I go with Sprott Physical Gold and Silver when I want physical. Their vault is also in Canada. Ticker is CEF. It is gold and silver, though, so some of the others may be better if you only want exposure to gold. Most gold folks that I've listened to over the decades have recommend that you start with physical and that it's more insurance than investment. If you never need it, consider yourself lucky and pass it on to your heirs.
Just a few grand of CEF, it’s been good
I guess that is where I disagree with most. You have to analyze your situation and find the SWAG that works for you. The right number for me likely looks nothing like the right number for you. And the right number is not static as the variables are changing. Your assumption/hope is nothing happens for the 10 years and you have that sweet gain. Kinda like you pay for auto insurance for 10 years, don't have a instance of having to use it and reflect on "Wow if I had not bought insurance I could have invested all that money and been much richer". Problem is no one can predict when the crap is going to hit the fan so you roll the dice and choose how much self-insuring you can handle. Maybe the answer for you is 1 month in HYSA, 1 month in short term treasuries, 1 month in a CEF, ... laddering the emergency fund in a series of investments. History has taught having an emergency fund not invested in the stock market is best. Can you drop all 9 months of $7k in VOO and be ok - maybe yes, maybe no. I know that once I had a couple of thousand in cash set aside I slept better knowing and if I blow a tire, it becomes an annoyance and not a oh crap how am I going to replace the tire so I can get to work and pay the rent this month. Over time I grew how much I set aside for emergencies and now short of the house burning to the ground (and I have homeowners insurance for that) I can handle pretty much anything that comes along with out having to touch any of my investments, 401k, or IRAs.
PsiQuantum (private) is my favorite and you can get exposure through BSTZ - BlackRock’s tech CEF.
SCHB - Schwab US Broad Market SCHO - Schwab Short Term US Treasury SCYB - Schwab US High Yield Bond VEMY - Virtus Emerging Market Bond DNP - A CEF invested in Utilities, Infrastructure and MLPs
Fair warning for anyone curious about this fund. It's a CEF and valuation and price discovery can be extremely challenging. And it can be very volatile - the fund is down 21% today as an example. And it had more than a 250% increase from the election. But prior to the election - fair value had the fund down 35% from inception. The ticket is DXYZ. More information about the fund here - [https://destiny.xyz/tech100](https://destiny.xyz/tech100) This is considered a highly speculative fund which is currently trading with a significant premium above the last unaudited valuation.
Buy CEFs like GOF CLM DBL research at CEF connect or buy entire KURV investment suite
The illiquidity present in frontier markets means they're not suited to ETFs which require intraday pricing. You be better off looking for a mutual fund or CEF that don't have outflow issues
I should’ve explained more. I feel anyone under 50 should be taking a more aggressive approach than being completely in index funds. Berkshire is a terrific company, I wouldn’t fall for investing in them. It just seems when people post them they’re planning to put a percentage of their account into it and expect 20% like equity returns, not what Berkshire does or even pride itself on. My current strategy is real allocating some of my equities into CEF and various bonds. I think the next 10 years are going to be much harder on the market too compare with the previous 10.
80m to 700k would be easy lol 80k I did by getting a few lucky hits early in the pandemic- sq and nio very early that got me to 300k, no options this was all shares I bought and sold, dumped the rest into VGT and just rode that up, now I dumped all of that and moved into value and some CEF I think I am as secure as I am going to get
Get the hell out and invest proceeds into diversified basket of stocks with no leverage, you won the jackpot. Don't fuck it up. I suggest: SPY, IBIT, CEF, TLT and chill. (25% each) Seriously, don't keep gambling. If you wanna gamble again, don't use these winnings, deposit a small amount from your income and try your luck again, but don't screw up these gains.
Ah thank you! I missed that it was a CEF with leverage that makes sense. Except below: “Of course, that is good news for us Income Factory investors, because it is the equity tranche in these CLOs that we are interested in as candidates for our portfolios. Two closed-end funds that I have held in my own Income Factory for several years with good results are Oxford Lane Capital (OXLC) and Eagle Point Credit (ECC), both of which invest in the equity of CLOs. In fact, they were the first two closed-end funds to introduce CLO equity investing to the retail investment market, it previously having been limited to the institutional investing realm. ” Excerpt From The Income Factory Steven Bavaria This material may be protected by copyright.
Hi, I've been working a bit with CEF and in particuar around discount levels. It sounds correct that it is an attractive deal since they usually put these tender offers in place to trigger in case of poor performance to attract investors. However, there is no certainty that it will drop back to the same level, it can often drift the discount range significantly when these events occur.
There is another fund that does something similar, BDJ. Difference is that it's a CEF of dividend stocks that generates additional returns by selling covered calls. So it limits the upside if the market has a big rally, but if you are holding dividend stocks you will underperform in that scenarior regardless. There are actually a lot of CEF funds that generate high % returns but I haven't looked into any of them other than BDJ (which I do not own).
If you can commit to never selling, get a CEF that pays 11+% Easy peezey!
Any investment that yields more than 5% will be riskier than your CD, that’s just a fact of life. I hold an array of equities that include high growth investments, but I also include some high yielding stocks, BDC’s and CEF’s that provide returns of 5.0 to 11.0%. Examples include RIO, BHP, OBDC, GBDC and GLAD. These higher yielding stocks blend in nicely with my more growth oriented positions such as VOO, VUG, BHP and GNR. If you can accept the risk you could consider a similar approach, and still get to your objective of a 5.0+ % blended yield.
There is a lot of bad advice on Youtube but there are a few great channels that provide true value & wisdom. One of those is Armchair Income. This particular channel focuses on passive income from ETF's, BDC,s, REIT's, CEF's & covered call ETF's. It's a great resource to learn how different people have structured their income portfolios & just to learn some strategies for allocation. Another one is Wealth Adventures. That guy does a great job of discussing different ETF's as well as doing in depth reviews & interviewing fund managers. These are a couple of good places to start.
I trust Sprott: PSLV and PHYS CEF is a mix of the two
I bought DXYZ when it first came out to gain exposure to SpaceX and others. I’d meant it to be a longterm hold, but didn’t execute great DD. I sold some on a huge runup, but am down now overall as it’s dumped. If one is comfortable with the fees and nature of the fund (CEF, I believe,) this may offer a decent entry.
It is regrettable that your hubbie got you into a raft of losers. Once you have sold the losers, find index funds or income CEF's (I love income cef's) that appeal to your conservative nature. Which ever makes you feel good/safe. Your portfolio results should make you feel reassured not terrified/anxious/suicidal. If you or the hubbie ever again feel the need to get wild & crazy with your portfolio you should only gamble with less than 5% of your portfolio. Having 40% losses should only happen in a 1929/2008 depression. I invest for my wife in her portfolio. I bend over backwards to make sure that her portfolio does not lose money. Not saying she is sub-par in her results. Am saying that I do not want to have a "discussion" with her about why she is losing money in the stock market. When I buy equities for either one of us, I always winnow the choices down to two. The wife gets the #1 choice & I get the #2 choice if we are not buying the exact same thing. My mother always gave me shit for doing that. I just done want to have that "discussion" about equity choices color how my wife views my other choices in the marriage. Simple logic on my part. Your mileage may vary from mine.