BGH - Good Value Is Getting Hard To Find In CEFs
There has been a recurring theme emerging from my recent searches for high-yielding CEFs with a recent history of strong market returns: Funds that meet those criteria are frequently selling at a premium, and to make matters even worse, the premiums have been growing to levels that all but rule out the funds as currently investable. This was true for the top-performing funds in the domestic equity categories (here) and, especially so, for taxable-income categories (here). Outside the domestic-equity group, most were at premiums, some in the high-teen and even twenty