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GOF
Oct 25, 2021 15:25:59 GMT
Post by rhythmmethod on Oct 25, 2021 15:25:59 GMT
I’ve had this on my radar a while. The merger with GGM, PGM (I think) has caused a drop of ~ 3% this AM. Is this an opportunity or trap? I’m in no hurry, but as you know, rarely see a dip I don’t want to buy. TIA.
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GOF
Oct 25, 2021 16:28:19 GMT
Post by xray on Oct 25, 2021 16:28:19 GMT
rhythmmethod, Your: I’ve had this on my radar a while. The merger with GGM, GPM, GGM has caused a drop of ~ 3% this AM. Is this an opportunity or trap? ----------- GOF has always been interesting [on our radar]. In my world of tracking CEF's GOF [once owned/sold] is currently a non event. GOF [COB Friday] had a current NAV of 16.82 and a MktPrc of 20.05 [substantial " Premium" of "20%"]. I have GOF in my rear radar window [not on my current Watch List] but some of us have no intention of paying a 20% premium and possibly losing some of our principal [instantly] if/when a Mkt drop happens [investors bail out of a risky investment]... With the merger completed now, GOF's MktPrc should trend lower and I will probably add it to my current Watch List to get a "new" reading on it. Currently, some of us want the smoke to clear and get a updated reading [analysis] on it.... Live Long and Prosper....
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GOF
Oct 27, 2021 13:34:39 GMT
Post by rhythmmethod on Oct 27, 2021 13:34:39 GMT
rhythmmethod , Your: I’ve had this on my radar a while. The merger with GGM, GPM, GGM has caused a drop of ~ 3% this AM. Is this an opportunity or trap? ----------- GOF has always been interesting [on our radar]. In my world of tracking CEF's GOF [once owned/sold] is currently a non event. GOF [COB Friday] had a current NAV of 16.82 and a MktPrc of 20.05 [substantial " Premium" of "20%"]. I have GOF in my rear radar window [not on my current Watch List] but some of us have no intention of paying a 20% premium and possibly losing some of our principal [instantly] if/when a Mkt drop happens [investors bail out of a risky investment]... With the merger completed now, GOF's MktPrc should trend lower and I will probably add it to my current Watch List to get a "new" reading on it. Currently, some of us want the smoke to clear and get a updated reading [analysis] on it.... Live Long and Prosper.... A quick look seems to indicate the premium has dropped to ~ 13%. It’s getting more interesting to me with 11+dist. At what point would you pull the trigger? Collecting the dist is pretty compelling to me. I think I’ll place a limit order 18.xx and see what happens. Live long and prosper…
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GOF
Oct 27, 2021 15:07:45 GMT
Post by steelpony10 on Oct 27, 2021 15:07:45 GMT
I’ve had this on my radar a while. The merger with GGM, PGM (I think) has caused a drop of ~ 3% this AM. Is this an opportunity or trap? I’m in no hurry, but as you know, rarely see a dip I don’t want to buy. TIA. I’d wait until the merger is completed. Maybe the distribution will be adjusted down and the premium may drop further. There’s always downside pressure for an unknown, fear being stronger then greed. (Investing 101, Chapter 6 page 57 if you want to check that). You may get a better entry point. It should be visible in the next two months. Same with PDI. Go carve a pumpkin. I like the part “on my radar for awhile though”. I think I told you we’ve had GOF almost from inception. If your not going to be a trader I still treat the premium like a high PE. Everyone wants it. Of the 12 I own now I bet most (all) are at a premium. If the present situation leads to 3-4% inflation and it is not transitory leading to flat markets, adding in T and all the other woes the financial crystal ball journalists can come up with, you’ll be glad you invested in some HY situations. Flat markets, no growth and relatively low yielding dividend stocks and bonds means at least a period of buying power erosion. My large muni at 2.8% is a liability under those conditions. CEF’s still mean no spend down at 3-4% inflation for us anyway.
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GOF
Oct 27, 2021 20:35:48 GMT
Post by rhythmmethod on Oct 27, 2021 20:35:48 GMT
I’ve had this on my radar a while. The merger with GGM, PGM (I think) has caused a drop of ~ 3% this AM. Is this an opportunity or trap? I’m in no hurry, but as you know, rarely see a dip I don’t want to buy. TIA. I’d wait until the merger is completed. Maybe the distribution will be adjusted down and the premium may drop further. There’s always downside pressure for an unknown, fear being stronger then greed. (Investing 101, Chapter 6 page 57 if you want to check that). You may get a better entry point. It should be visible in the next two months. Same with PDI. Go carve a pumpkin. I like the part “on my radar for awhile though”. I think I told you we’ve had GOF almost from inception. If your not going to be a trader I still treat the premium like a high PE. Everyone wants it. Of the 12 I own now I bet most (all) are at a premium. If the present situation leads to 3-4% inflation and it is not transitory leading to flat markets, adding in T and all the other woes the financial crystal ball journalists can come up with, you’ll be glad you invested in some HY situations. Flat markets, no growth and relatively low yielding dividend stocks and bonds means at least a period of buying power erosion. My large muni at 2.8% is a liability under those conditions. CEF’s still mean no spend down at 3-4% inflation for us anyway. Thanks. Actually I took a smallish position @18.75. I sometimes call this "engaged" watch 😂. That way if there is more downside pressure I can add. If there isn't, I can add still add (perhaps) with more confidence. Still waiting for merger to add to PDI. Then my income stable of CEFs (PTY, PFF, GOF, PDI) will be complete. On to carving pumpkins...
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Post by xray on Oct 28, 2021 9:30:40 GMT
rhythmmethod, Your: A quick look seems to indicate the premium has dropped to ~ 13%. It’s getting more interesting to me with 11+dist. At what point would you pull the trigger? Collecting the dist is pretty compelling to me. I think I’ll place a limit order 18.xx and see what happens. Live long and prosper… --------- Looking at my current data this morning, the answer to your question is "Not anytime soon". The CEF market is in a current "decline" and is on course [currently this week] to fall " below" last week's numb3rs. GOF's numb3rs are still correcting for the merger and has yet to stabilize [IMHO]. Patience is a virtue IMHO. Doesn't look too good unless the next two days are up days for the market. Live Long and Prosper.... Attachments:
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Post by xray on Nov 22, 2021 22:17:17 GMT
The market decline is currently [now] making GOF a initial MktBuy [IMHO]. Some of us have bought a Phase #0 position [0-2%] of GOF on 11/18...
Looking at current [Quick glance] data [COB Friday]:
MktPrc 18.67 Best MktBuyPrc: 18.98 Star Rating: 7star [last 2-wk period] 13wk Star Rating: 8.17 Report Card grade: 82 Power Rating: 88
Last Weeks analysis rating: +359 [need >+286] Risk to current portfolio's: +0.180 [need >+312] MTB: -0.99 [need >-0.098]
Distribution: 11.70% Premium" -0.090
NAV: 16.72 NAV Growth: -0.19
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Live Long and Prosper....
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