4 Comments

GOIN TO VEGAS AGAIN—CEFL REVISITED 17%

Thursday August 7, 2014

********Go to “Core Portfolio” for current holdings.**********

UPDATE:  CEFL WAS SOLD

Way back on June 3 I said we were heading to Vegas and buying CEFL an exchange traded note that contains 30 well known closed end funds with some leverage thrown in to get the yield up to 16%.  There are almost 1,000 securities giving you huge diversification.

Since the purchase we have received a huge sixty cent per share dividend, and it has tanked.  lol  But the entire market has declined so I am not terribly concerned.  I think the markets are turning around and we should start going higher.

CEFL is going ex dividend tomorrow and it will probably drop a little.  I suggest you BUY CEFL if you don’t already own it, OR buy more if you have a small position…..it may get down to $26.50 which is support.  The current price is $27.33

As I said this is high risk and you should own small positions.  There was a time that I would have never even considered getting into this type of investment.  But I really like what they are doing, and of course the huge dividend is nice.

http://www.SeekingAlpha.com my favorite financial web site has numerous articles covering this position.

Book Recommendation.  Here is another fun read.  The First Family Detail by Ronald Kessler gives you all the gossip on the first families, provided by Secret Service agents.  What a hoot.  Bill Clinton’s women.  How Hillary is so mean and nasty.  The philandering of prior Presidents.

A final note:  As I have said on numerous occasions, we are in a stock market Bubble.  Do not believe this is going to go on forever.  The markets will eventually fall apart when interest rates start going up and you will want to sell everything.  This could be after the November elections, or even later.  We don’t know right now.  In the meantime you should be fully invested.

Here is a link to a presentation from Arlington Capital Management that is very informative.  They are an excellent financial advisor in Chicago that I have followed….I am NOT a client but they do offer advice on the radio and on the web.

https://www.arlington-capital.com/Blog.aspx

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4 comments on “GOIN TO VEGAS AGAIN—CEFL REVISITED 17%

  1. Hey There! Thanks again for the mention. I wanted to let you know that we’re on WordPress now as well. Keep up the good work.

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  3. […] good buys in the Core Portfolio include CEFL and MEMP.  Even the high risk pick AMYGF is looking […]

  4. […] August 22, 2014.  Go to “Core Portfolio” for current holdings.  I recently published several posts about ‘going to Vegas’ followed by a suggestion to buy the risky CEFL. […]

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