Post #5746 by Mrg5a on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)

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Does anyone follow CET? Closed end fun trading a 20% discount to NAV. A solid portfolio of quality stocks plus a 20%+ holding in Plymouth Rock Insurance.

From what i can find, they mark the privately held insurance holding at a large discount (due to illiquidity). From what I see, the company is valued at 16,000 (2023) while CET owns 28,424 shares valued at 258,658,400 = 9,100 (Dec, 2022) from the financial reporting of Plymouth, they are growing book quite well and are located in northeast USA (limited hurricanes or forest fire risk)

The fund has a ok expense ratio 0.5% and i am not sure there is a catalyst for the discount to narrow. However, it seems like a decent opportunity in this pricey market.

Thoughts?

https://www.plymouthrock.com/about/financial-infor...

https://www.centralsecurities.com/wp-content/uploa...

https://www.cefconnect.com/fund/CET

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