No. of Recommendations: 2
When I looked at CNS, I could only find about 5 qtrs of data related to their stock. I know they have been selling products much longer than that. Perhaps they were private until recently. Some of you might remember some time ago, when I sold a bunch of REIT's and replaced them with a group of banks and energy companys. I still own the energy stocks and they did very well. However the banks did not, to say the least; and I eventually sold all of them. I did want some financials though, so I thought about what to buy. I bought Legg then and BRO (Brown & Brown insurance). They have both done extremely well. I later bought Nuveen. I have never done well with closed end funds, although fortunately I never invested much in them. I never owned any REIT CEF's, but did and still do own UTF (a Cohem & Steers utility fund). It has been awful, although I must say VPU (Vanguard's Utility Viper) hasn't done any better (which I bought about the same time). I also owned HTR and BNA (fixed income CEF's) and did not do well with these either. One thing that is surprising about some of these CEF's, ETF's and Vipers is how few stocks some of them own. In some cases a few as 20. Also, the CEF's generally have very high expense ratios (I am sure that is not news to most of you). I got to thinking they must make a lot of money selling these products, so I decided to buy CNS, BLK, etc. instead of their products or other financials.
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