Weekly Commentary | January 18, 2025 | BANX Rights, Preferred CEF Oppty, Added To Intl Equity

Jan 19, 2026

∙ Paid

Summary

I am incrementally shifting assets from US large caps to international, with new positions in AGEM and FDT complementing core EM and developed market holdings.
Preferred CEF discounts remain wide and attractive, while municipal bond CEFs have become relatively expensive; I am underweight loans due to private credit risks.
Recent CEF actions include…