Let’s use this November rally to “front-run” even bigger gains in 2023. Our target buys: closed-end funds (CEFs) yielding 10%+ and trading at double-digit discounts.
We’re keen to move now because, with a 20%+ loss this year, stocks (and the CEFs that hold them) are way oversold. And with the market’s tendency to rise into year-end (the much-loved Santa Claus rally), now is a great time to buy.
One smart option here is a CEF called the General American Investors Company (GAM), payer of a 9.8% dividend. GAM is one of the most reliable CEFs there is, with roots stretching back to 1927.… Read more