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Today we had press releases related to many of the CNS closed end funds. Many of these funds are distressed right now due to a couple of factors.

1) Primarily invested in the REIT sector

2) employ leverage, and recent failures in the AMPS market is increasing the cost of this leverage.

Today's announcements imply that CNS will not be making dividend cuts on its funds in the near future - though the possibility exists that a portion of these payouts may end up being 'return on capital' (we'll find out at the end of the year).

I own this, but it would likely be better to be on the sideline waiting on better prices. This will be a great stock to own sometime - just probably not now and when will be tough to gauge.

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