Post #9034 by nola622 on the Berkshire Hathaway board

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

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at least some of what is being called the 1.6% expense ratio is interest on the borrowed funds the CEF uses to add leverage. Most of the time the discount on these CEFs is just the capitalization of the fees - think of it like slapping a 14x PE ratio on 1.6% of annual leakage.

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