Christmas may have arrived early for closed-end fund ("CEF") investors as discounts are blowing out across the board as investors irrationally and indiscriminately sell all of their investments. While there's the saying "Stocks take the escalator up but the elevator down," there's also the important addendum - "Just make sure you don't get out at the basement!" In my view, this bout of panic-induced selling is the perfect opportunity to buy into a higher-yielding income stream. As our own Steven Bavaria wrote in the chat today:
As a former journalist, I