Investing in Closed-end Funds: Finding Value & Building Wealth [Textbook Binding]

Albert J. Fredman (Author), George Cole Scott (Author)

Book Description

ISBN-10: 0135034914 | ISBN-13: 978-0135034910 | Publication Date: April 17, 1991 | Edition: 1

Aimed at investors, rather than brokers, this work on closed-ends funds includes an analysis of the investment opportunities, risks and rewards of these popular traded funds. Since closed-end funds are typically bought at a discount from their actual value, but sell at a profit, they represent a cheap way for many to invest without the risks involved with investing in the stock market. This new guide takes a practical look at these inexpensive long-term investment tools, providing a discussion of these funds, and explaining the ups and downs of a variety of closed-end fund investment strategies. Key features to this handbook include appendices detailing all the closed-end funds available as of September 1990, an explanation of the pros and cons of investing in closed-end funds in today's market, coverage of closed-end stock and bond funds and single country closed-end funds, commentaries by, and interviews of, some of the leading closed-end fund managers, and coverage of international closed-end fund investment strategies.

Product Details

• Textbook Binding: 512 pages
• Publisher: New York Inst of Finance; 1 edition (April 17, 1991)
• Language: English
• ISBN-10: 0135034914
• ISBN-13: 978-0135034910
• Product Dimensions: 8.9 x 6.1 x 1.8 inches
• Shipping Weight: 2 pounds
• Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #705,584 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

49 of 49 people found the following review helpful:

4.0 out of 5 stars The Bible of Closed-end Fund Investing, December 19, 2001

By 

C. C. Justice (Easley, SC USA) - See all my reviews
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This review is from: Investing in Closed-end Funds: Finding Value & Building Wealth (Textbook Binding)

This IS the definitive work on the arcane world of closed-end fund (CEF) investing. CEFs provide an excellent method to target particular investment sectors -- especially international markets and fixed income. I like using CEFs for part of the fixed income component of an investment portfolio. When properly managed, they will enhance your dividend yield and supply capital appreciation potential. CEFs can provide greater yields by deriving dividends from portfolio assets at net asset value (NAV), but pay them based on the share's market price -- which can be at a discount to NAV. Simply put, you can buy dividends on $10 worth of assets for only $9. The investor (or their advisor) must, however, monitor the CEF's discount to premium spread versus NAV on a regular basis. CEFs can be tricky. I recommend all new CEF investors start out with this book -- it's a little dated -- but the principles remain true. Note Steven Samuels' advice: Never buy a CEF on the IPO -- and I would add, never buy one at a premium.

2 of 2 people found the following review helpful:

3.0 out of 5 stars Closed End Funds, May 14, 2011

By 

Jerry D. Sparrow (Colorado) - See all my reviews
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This review is from: Investing in Closed-end Funds: Finding Value & Building Wealth (Textbook Binding)

Good information in this book, but feel it could have been much more concisely written. Volume it approximately 500 pages. Could have been presented in 100 pages or less.