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Orbitz

Scott Bessent Appointment Makes This 11% Yield A 'Screaming Buy'

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. intment-makes-this-11-yield-a-screaming-buy.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Hedge fund veteran and Wall Street-approved suit Scott Bessent is likely the new Treasury secretary. That's why this 11% dividend is a big winner.
The article from Forbes, written by Brett Owens, discusses the recent appointment of Scott Bessent as the new CEO of the closed-end fund (CEF) known as the Cornerstone Total Return Fund (CRF). Bessent, a former Soros Fund Management partner, is expected to bring significant changes to the fund, which currently offers an 11% yield. The article highlights that despite the fund's high yield, it has been trading at a substantial discount to its net asset value (NAV), around 15%. Owens suggests that with Bessent's expertise and the potential for improved management, the fund could see a reduction in this discount, making it an attractive buy for investors seeking high-yield opportunities. The piece also touches on the broader context of CEFs, explaining how they can offer high dividends and the potential for capital appreciation when managed effectively.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/brettowens/2024/12/01/scott-bessent-appointment-makes-this-11-yield-a-screaming-buy/ ]