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You are here: Home / Archives for closed-end funds

424 Plus: Buying Pre IPO Stock Shares, Online Versus Offline Ownership, and a Closed End Fund Follow Up

May 17, 2025 by David Stein · Updated May 17, 2025

In Plus episode 524, we review the risks of purchasing pre-ipo stock on platforms like EquityZen. We also compare owning gold and cryptocurrency offline versus owning an ETF or holding them through a custodian. Finally, David provides an update on a conversation he had with Steve Selengut about closed-end fund investing. … [Read more...]

Filed Under: Money Plus Tagged With: closed-end funds, cryptocurrency, EquityZen, gold, IPOs

517: Should You Invest 100% of Your Retirement in Closed-End Funds

March 26, 2025 by Camden Stein · Updated April 12, 2025

We compare three approaches to closed-end fund investing: Opportunistic trading, the buy and hold income factory, and a systematic approach of selling closed-end funds after 5% gains. We also explore the pros and cons of closed-end funds relative to open-end mutual funds and ETFs. Show Notes The Closed-End Fund Market, 2023—Investment Company Institute The Income Factory: An Investor’s Guide to Consistent Lifetime Returns by Steven Bavaria—McGraw-Hill Companies Retirement … [Read more...]

Filed Under: Podcast Tagged With: closed-end funds

490 Plus: Accredited Investors, David’s Private Capital Allocation, Closed-End Funds and BLW

August 24, 2024 by David Stein · Updated September 7, 2024

In Plus episode 490, we continue the discussion on accredited investors. David breaks down his private capital allocation and discusses potential substitutes. We answer several questions about closed-end funds. Finally, we analyze the Blackrock Limited Duration Investment Trust (BLW). … [Read more...]

Filed Under: Money Plus Tagged With: accredited investors, BLW, closed-end funds, private capital

488 Plus: Portfolio Trades, Pershing Square USA Follow Up, and CEF Premiums

August 3, 2024 by David Stein · Updated August 14, 2024

In Plus episode 488, David reviews changes in his portfolio, including adding a fixed-income bullet ETF, an equity buffer ETF, and increasing his allocation to CLOs. We discuss why Pershing Square didn't move forward with its closed-end fund IPO. Finally, we revisit why it is advantageous for closed-end funds to sell at a premium even though most do not. … [Read more...]

Filed Under: Money Plus Tagged With: BSCV, buffer ETFs, CLOA, closed-end funds, defined outcome ETFs, DXYZ, GUT, MAXJ, Pershing Square, PSUS

474 Plus: Who Really Owns Our Stock Shares, a New Private Tech Company CEF, and a Canadian Cash Equivalent

April 13, 2024 by David Stein · Updated April 23, 2024

In Plus episode 474, we review what it means that investors who purchase stock through a brokerage firm don't really own the stock but are only entitled to the dividends. We explore a new closed-end fund, DXYZ, that invests in private technology companies like SpaceX. Finally, we review a Canadian cash equivalent ETF, HSAV, that allows investors to avoid paying income tax. … [Read more...]

Filed Under: Money Plus Tagged With: bankruptcy, brokerage firms, Canada, cash equivalents, closed-end funds, DXYZ, HSAV

466 Plus: When ETNs Mature, Long Angle Community, and a Long Duration Credit Muni CEF

February 17, 2024 by David Stein · Updated February 26, 2024

In Plus episode 466, we review the exchange offer for the JP Morgan Alerian MLP ETN (AMJ). The original ETN is set to mature in May 2024. David shares his experience and thoughts on the Long Angle community. Finally, we analyze the Nuveen Municipal Credit Income Fund (NZF). … [Read more...]

Filed Under: Money Plus Tagged With: AMJ, CEFS, closed-end funds, Long Angle, master limited partnerships, MLPs, municipal bonds, NZF

462 Plus: Immediate Annuities, More on Closed-End Funds, and Currency ETFs

January 20, 2024 by David Stein · Updated February 2, 2024

In Plus episode 462, we review why one might want to buy an immediate annuity to help fund retirement expenses. We consider the Cohen & Steers Closed End Opportunity Fund (FOF). Finally, we discuss using an ETF to speculate on currencies. … [Read more...]

Filed Under: Money Plus Tagged With: annuities, closed-end funds, currencies, currency hedges, fund of funds, immediate annuities

459 Plus: TIPS Liquidity, a new MBS ETF, Closed-end Fund ETFs, and MLP Data

December 14, 2023 by David Stein · Updated January 18, 2024

In Plus episode 459, we discuss who is on the other side of the TIPS trade. We analyze the Simplify MBS ETF (MTBA) and learn what mortgage-backed TBAs are. We review the performance and risk of ETFs that invest in closed-end funds. Finally, we explain why MLP data is no longer included in the monthly investment conditions and strategy report. … [Read more...]

Filed Under: Money Plus Tagged With: CEFS, closed-end funds, ETFs, MLPs, mortgage-backed securities, MTBA, TIPS, Treasury Inflation Protected Securities

437 Plus: Federal Home Loan Bank Bonds and an Advantage of Closed-End Fund Premiums

June 24, 2023 by David Stein · Updated January 23, 2024

In Plus episode 437, we explore the history of the 90-year-old Federal Home Loan Bank, and why its bonds can be attractive to individual investors. We also explore how closed-end funds that sell at a consistent premium to net asset value can pay a higher dividend, partly funded by issuing new shares. … [Read more...]

Filed Under: Money Plus Tagged With: callable bonds, callable securities, closed-end funds, Federal Home Loan Bank, FHLB

417 Plus: Which Assets Now, How Much in Real Estate, Disinflation, Foreign Taxes, and CEFs

January 21, 2023 by David Stein · Updated January 31, 2023

In Plus Episode 417, we consider whether there is an optimal price to renter the S&P 500 Index or other asset classes. We discuss what disinflation means. We consider what is a reasonable allocation to public and private real estate. We consider the impact of foreign withholding taxes on dividends. Finally, we look at the current closed-end fund landscape. … [Read more...]

Filed Under: Money Plus Tagged With: asset allocation, closed-end funds, disinflation, dividends, real estate, taxes

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