Most investors have never heard of Central Securities Corp. (NYSE: CET).
The investment firm was launched on Oct. 1, 1929, just weeks before an
epic stock market crash -- but it survived that era and has made it
intact for more than 80 years, albeit in a low-key fashion.
Rather than offer a range of mutual funds, CET offers just one
closed-end fund. Yet it's the kind of fund that investors should always
seek out: The stated value of its holdings is worth a lot more than the
actual trading price.
Said another way, this closed-end fund owns $28.20 a share worth of assets, but trades for less than $24.
CET has a solid portfolio, holding companies such as Intel (Nasdaq: INTC), Citigroup (NYSE: C) and the Bank of New York Mellon (NYSE: BK). The management fee is 0.77%, which is tolerable when you consider the $4-a-share discount to net asset value (NAV). (more)
Please share this article
No comments:
Post a Comment