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This 5.5% Dividend Will Profit From Last Week’s Hedge Fund Blowup

This mess with Archegos Capital Management has shone a light on the use of leverage in investing. And it’s particularly relevant (in a good way!) to investors in high-yield closed-end funds (CEFs). That’s because it: Clearly shows the difference between gambling (what Archegos was doing) and investing in smartly run, value-focused high-yield funds (what we do), and … Highlights a key misconception about leverage we can take advantage of. (We’ll look at a 5.5%-yielding fund that profits from a methodical use of leverage in a moment.) Archegos, if you’re not familiar, is a hedge fund that had (until last week) $30 billion in positions in several stocks, including ViacomCBS (VIAC), Discovery Inc. … Read more
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