Subject: Re: CEF, stew is 36 % brk, so it's clearly
For the first ten years plus, from its inception, the fund had a history of very high total expenses, over 2.5 %. I have no idea why anyone bought BIF back then or why any investor thought the fund performance could overcome that drag. In the past 5 years the controlling family has been increasingly shareholder friendly. Would Buffett buy the entire fund at a 10 discount to nav? I think he would. If anyone is interested ,this is the funds website, https://srhtotalreturnfund.com...