Reuters / Richard BrianPsst... there's a fortune to be made buying closed-end funds (CEFs). Just don't tell Wall Street. That was the message delivered in a recent interview by famed credit trader Boaz Weinstein, whose $1.7 billion firm Saba Capital is best known for its winning bet against the JPMorgan trader known as the "London Whale." CEFs, which raise money through initial public offerings and then trade on public exchanges, just like stocks, total $240 billion in market value right now.
A Legendary Fund Manager Is Piling Into A Market He Says Wall Street Is Ignoring
jciolli@businessinsider.com (Joe Ciolli), Business Insider
Tue, 07/25/2017 - 9:44am
Topics: london whale. reuters richard brianpsst boaz weinstein saba capital jpmorgan to weinstein although cef octavian report while weinstein bill gross pimco gundlach weinstein it’s watch trump nafta cefs wall street weinstein saba octavian cef fund manager market discount investors investment interview average buying trader billion largely public institutions points large trade
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