John Hancock Bank & Thrift Opportu. Fund (AMEX:BTO)

ozzy3 (47.13) Submitted: 9/11/2011 5:25:05 AM : Start Price: $12.45 BTO Score: -10.86

BTO is taking care of business every day ..... taking care of business, every way (?)
But seriously, it's a big closed end fund, managed for long-term capital appreciation and current income. Basket o' financials, weighted for quality (?) Example of weighting from 2011 top ten BTO holdings: PNC, JPM and WFC; each weighted at about 5% ..... vs. BAC weighting at about 3.4%. These closed end funds are a little bit mysterious to me .... looks like BTO managers are aiming for a total 2011 distribution of about $1.00 per share. Dividends + short-term gains + long-term gains. Seems like the expense ratio is high @ ~ 1.4/1.5 %. Did they complete a previously announced buy-back of 10% of BTO shares ? Good discount to NAV. As quality banks (and financials) slowly recover, and raise their dividends, BTO seems like a decent long-term investment. Do your DD, buy BTO (cheap) when the banks are getting hammered, hold for the long-term and enjoy your $$$$$ distributions.
And, like BTO says ... "taking care of business, it's all mine ... taking care of business, and working overtime. Work Out ! "

239007 (70.28) Submitted: 7/2/2010 9:37:07 AM : Start Price: $13.07 BTO Score: -28.51

Buying assets at a large discount is a good thing (over 16% discount to NAV).