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Investors Hated the Cuba Fund That's Now Going Parabolic
FYI: The Cuba-linked closed-end mutual fund that's going bananas in the wake of Fidel Castro's death is a product investors had grown increasingly sour on over the past six months.
The Herzfeld Caribbean Basin Fund (CUBA) was up as much as 17 percent on Monday morning, its best one-day showing since December 2014, amid hopes that the dictator's passing will herald profit-making opportunities for a number of firms that operate there, mostly in the businesses of tourism and infrastructure development. Regards, Ted https://www.bloomberg.com/news/articles/2016-11-28/investors-hated-the-cuba-fund-that-s-now-going-parabolic
It hit about $7.50 today, way below the $14 it hit when resumption of diplomatic relations was announced in 2014. Any way I look at it, this fund has not made anyone much dough over its lifespan. It remains an "idea" investment for me and believe me, my attempts to make money off idea stocks and funds has not worked.
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