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Central Securities Corporation (CET)

NYSE
Currency in USD
Disclaimer
41.13
+0.42(+1.03%)
Closed
After Hours
41.13-0.03(-0.07%)

CET Comments

I overlloked CET'S recent performance. I bought 500 shares last year for safety amid a crash. The S&P 500 lost 19.44% in 1922. CET fell from a high in the mid 40's. I jumped in in the mid 30's. Since then the stock is up slightly. But, it did pay a dividend of $2.20 in November. I cannot recall the breakdown of gain and earnings. Regardless I took the payout as I needed income ( cash) in '22. CET returned in 6 months 6.2% on my investment in a 6 moth period. Given the S&P lost 19.44% this old dates to 1929, well managed Fund did well without high fees, risky investments or much trading. How? They own 22% of a Privately Owned Insurance Company that has a great track history. Where is Warren Buffett make his money?
The best non levered CEF. The large ownership position in a very profitable Insurance company keeps this Fund well below it's NAV. The other 75% of the fund is invested in a nicely balaced mix of stable large cap stocks. CEF has well outperformed the S&P 500 when dividends and distributions are included their is no other long tested CEFthat provides the stability and income of CEF. Of course one could outperform CET with leverage or a drastic increase in risk. Their are days I wish CET would open itself to more mid cap companies. But, this thinking that creeps in is the reason CET is the best of breed CEF over the long term.
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