Buying Berkshire at a Discount - Boulder Total Return Fund (BTF, rated BUY)
A closed-end fund, selling at a 16% discount to NAV with a Div. Yld of 13.77% and monthly distributions. Their portfolio is 32% Berkshire Hathaway, 11% cash. The discount to NAV should offer some downside protection in a weak market and the monthly distributions can be reinvested. Their overall attractiveness improved in October '07 when they announced their distribution would change from annual to monthly. As a point of comparison, when their sister fund (BIF) announced a similar distribution policy, it went from $8.00 to $15.21 per share (May '06-April '07) paying 11.5 cents per share per month. Creating an additional $1.38 per share in income during that 12 mo. time frame. Disclosure: I am a registered investment advisor and both my clients and I own this security.