The problem with using premiums/discounts as a primary indicator is that PDI might have a (say for fun) 2% premium at 25.00 or a 12% premium at 14.00.
I agree. This only works for short term trades where the NAV doesn't change much compared to price changes driven by fear and greed.
It's a lot more interesting for many to discuss and understand the gyrations of PDI than being on the Bogleheads forum saying that you added more money to SPY and the Total Bond Index.
I am not a Boglehead nor any type of idealog. But part of your answer, may be part of the real answer for many. It is not about actual investing but more about being part of a special group that discusses it for entertainment, the intellectual exercise and filling the time. Ok, got it. Though not challenging those who say it has been profitable for some short term trades just wondering why choose these chronic decliners in both market price and NAV for buy low sell high trading vs. so many other candidates. Ok thanks, I appreciate the honesty with an answer that makes sense.. Good luck.
And it's options expiration day, which is just a maelstrom of market makers repricing so they cover their @sses from open option trades
NO! It is not an ugly picture. Not even close, imo.
i am not a buy low, sell higher trader
I just don't see it that way at all, Dick.
FWIW, PDI remains my largest position, but it is half the size it was Monday. I think you may be right that this is a buying opportunity. But when momentum and fundamentals align as now, I prefer capital preservation. PDI yields nothing for the next 4-ish weeks.
Look up the word provocateur and it will remove any motivation to even respond to certain posts that seem to occur on a regular basis.i am not a buy low, sell higher trader
at no time in my investing life have I considered myself in that way....even in the beginning
that you think or view the way I invest like this means you do not understand what I'm doing
if you are sincerely trying to help me-----no need---i'm fine: spiritually, physically & financially
agree and today it took another dump!
With respect to rates, probably not for a long time. Many folks imagine that the FOMC Chair sets rates, but it is a committee, many if whom are very concerned about inflation. How can they not remember the (unwarranted) "stuff" they took during the 9% spike?
Guess don't understand, hence the question. But will try to ignore this thread in future as some others who questioned or cautioned in past have. Just never understood the unwavering devotion to a few investments that chronically seem to go down, and down and down. There are many other CEFs, (the thread's heading correct) often equity based, that may imo be so much more worthwhile to invest in from any perspective, trading or total return, and warrant bulk of conversation.. Maybe separate thread warranted for those or just will discuss as arises within the 'what did you trade and why thread' which invites open discussion. Why such unwavering devotion to Pimco bondish cefs such as PDI? Is it solely due to crazy high prospective yield? Maybe other reasons but can't really even ask here without attacks or ad hominems by a few, usually the same few or now maybe just one. So will leave all to their own devises and draw own conclusions. But good luck.i am not a buy low, sell higher trader
at no time in my investing life have I considered myself in that way....even in the beginning
that you think or view the way I invest like this means you do not understand what I'm doing
if you are sincerely trying to help me-----no need---i'm fine: spiritually, physically & financially
He may try. Ultimately, I expect resistance to raising rates. But, lots of pressure from inflation prints. My utterly unfounded "guess' is that rates go up, not down at some point. My observation is that inflation takes a while to percolate into price, then takes another while to settle back down.
Why such unwavering devotion to Pimco bondish cefs such as PDI?
My questions regarding PDI are upsetting you, sorry. Yes from my perspective seems almost like a cult following in many ways given other better appearing opportunities within realm of CEFs, income wise, trading wise, total performance wise. But it has a small following here, I think mainly from a Fidelity forum. OK, never mind, again sorry to upset you. Goodbye. I won't further respond. Maybe it will turn around, who knows. Good luck.
Marget - getting directly to the point! lol
How can we miss you if you keep coming back? It might "turn around" faster if you started an alternate thread on non-PIMCO bond CEFs - like you suggested. BTW many of us "know" each other from Morningstar going back 20-25+ years. Have a great day!
