Aberdeen (Artio) Global High Income Fund, BJBHX — ONLY For Those Hell Bent On Losing Money.

.Anura Guruge December 2014 thumbnail


by Anura Guruge

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BJBHX chart from MarketWatch.


I feel bad, real bad, for those that are still in BJBHX. With interest rates set to go up and the stock market taking a beating there is only one way that the BJBHX NAV was going to go and that was NOT upwards. BJBHX kept me afloat during the worst of the 2008 – 2012 financial crisis. I do not know what I would have done if not for BJBHX. But that was then, and this is now. I always knew that 2015, with interest rates bound to go up, was going to be painful for BJBHX. That said I hung on to it, albeit with a reduced holding, until May 2015. I then bailed and I am so glad I did. I invested all of my BJBHX holdings in AMZN and have been writing options against the stock. SMILE. Sure beats BJBHX.

I did tell you to bail, with me, in May. The NAV was $9.77 then. It is $9.17 today. A 6% drop in 6 months. That can be painful.

From what I can see the only rationale for staying with BJBHX is IF you have need to lose some serious money. Well, some people do — to offset huge Capital Gains or reduce their nett worth. BJBHX is the perfect instrument, these days, to achieve that. It will help you lose money with style. IF you are not that keen about losing money then BJBHX is NO LONGER for you. Their run, and it was good in the glory days when junk bonds were king, is now over. So I am just trying to help you. OK?

Best of luck. Fingers crossed for Thursday. I actually want the Feds to raise the damn interest rates. Lets move on. Get it out of the way. This slow drip-drip wait is a waste of time. Yes, a volatile market is fun but it is also nice to see the market chugging upwards.

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