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CUBA Is An Illustration In CEF Market (In)Efficiency

Jul 22, 2016
Click here to access CUBA Is An Illustration In CEF Market (In)Efficiency


CUBA was bid up as the herd flocked into the CEF as a way to play the "opening of Cuba" to US-based companies.

The shares went to an irrational premium, over 60% above NAV, which is absurd given the fund held zero companies directly involved in Cuba.

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