Tuesday, August 21, 2007
New America High Income Fund
Stop the madness. At todays current price on the NYSE, shares of HYB, New American High Income Fund are trading at $1.86. The market capitalization of the fund itself is over $178,150,000...................and as of 12/31/2006 the fund had approximate capital loss carryforwards of over $179,631,000. Truly a fund today whose sole purpose is to continue to supply compensation to all concerned with the fund. Shareholders have been bagged in this name since the day Patsy Ostrander became part of the "daisy chain" at Drexel Burnham Lambert. The beat goes on.