Assessing the market action from the floor of the NYSE, with Lee Eugene Munson, Portfolio Asset Management; Rick Bensignor, Execution LLC; and CNBC’s Scott Wapner.
By Grant Thayer
A closed end fund represents a portfolio of investments that is run by a professional fund manager. Different from an open end (mutual) fund, which issues and redeems its shares directly, closed end funds have a set number of shares that trade like shares of stock. The purpose of the closed end fund is to provide an investment vehicle for a portfolio needing liquidity while allowing the fund manager a platform for a long term investment strategy without having to sell and issue new shares daily. Meaning, an illiquid position need not be sold to cover redemptions by clients. However, the closed end fund is tragically flawed due to a lack of transparency.
Here are the tapes! And, he was right about BAC!
Quarterly Report: Really, what is everyone else saying???
Not since my time rocking with the dot.com bubble has the rest of the world’s opinion mattered so much. Ok, maybe the emerging market boom earlier this decade, but I was on board for that one. Rather than tell you things you already know, like the economy is not great, the dollar is weak, and stocks are going up for no fundamental reason, I will give my observations on the general overlap of what the big research departments are telling their investors. As you could guess, I will also add my “color” to their bullet points. So, let’s get in the trenches and see what “Wall Street” is touting these days. This includes places like Citigroup, Barclays, and Goldman. I am not reflecting on variant views or wild outlier thoughts.
Oklahoma City, September 1, 2009- Portfolio, LLC has opened an office in Oklahoma City. Portfolio is a Registered Investment Advisory Firm offering fee-only, conflict free, comprehensive investment management. Our Chief Investment Officer, Lee Munson CFP®, CFA, is a frequent commentator on CNBC and is quoted in magazines such as Smart Money and Business Week. Tracy Ann Miller, CFP®, is Managing Principal of the Oklahoma City office. Lee says, “We could not have a better partner than Tracy Miller. Her impeccable attention to detail and expertise in financial planning is evident in the comprehensive investment advice she provides for her clients.” Tracy comments, “It’s a new and exciting time for me to move forward with an independent office after 23 years of banking, brokerage and financial planning experience working for other firms.” Portfolio leased 1,212 square feet of space at 5100 N. Brookline, Suite 700 in Oklahoma City. Jim Austin and Tom Lange with CB Richard Ellis Oklahoma handled the transaction.
For Information: www.portfoliollc.com
Contact: 405-917-5309
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