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WSJ

Illustration by John S. Dykes

After years of rising prices for stocks and bonds, are there any bargains left?

Cheap securities aren’t easy to find, but some may be hiding in an obscure corner of the market: the closed-end fund universe. And some of the cheapest closed-end funds are those that invest in taxable bonds.

Here is a look at how closed-end funds work and how to find the ones that might be undervalued. Read the rest of the article here.

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Wall Street traders are circling a corner of the bond world they say is taking an unwarranted beating in anticipation of rising interest rates.  They are betting on closed-end funds, often-volatile structures that mostly cobble together risky collections of bonds and often employ leverage, or borrowed money, to try to boost returns…

Hedge-fund manager Boaz Weinstein is pitching investors on a new fund that will invest only in closed-end funds. Photo: Reuters

Read the article here: Hedge Funds Stalk Battered Corner of the Bond World

 

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Inside October’s Market Summary:

  • Third quarter GDP disappoints, but consumer spending looks strong
  • MLPs and the energy sector rebound
  • Technology giants drive a better-than-expected earnings season
  • …and more

Please click the following link for more information: Hillview Market Summary – October 2015

We look forward to your questions and comments. Please feel free to reach out to us anytime.

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China has been a major risk factor in international markets in recent months. Commodities, U.S policy decisions, European exports and economic growth all appear to hinge on developments in the Chinese economy. Please follow the link below to read our thoughts on China following our recent visit.

Insights on China

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After the Dow plunged over 1,000 points on the morning of August 24, 2015, the trading and liquidity of E.T.F.s came under the spotlight. E.T.F. discounts widened to as much as 30% for some funds that morning, as trading in E.T.F.s dried up during the plunge. Peter Kraus, chairman of AllianceBernstein, questions the safety of E.T.F.s in the New York Times article, “The Man Who Hates E.T.F.s.”