Cornerstone Progressive (NYSEMKT:CFP)

L0RDZ (74.84) Submitted: 5/15/2013 2:13:11 PM : Start Price: $5.94 CFP Score: -2.04

LORDZ says ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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2 rules

1 rule

Don't sweat the small stuff

2 rule

It's all small stuff

However from my preliminary research in looking for high yielding investment opportunities, it seems like CFP is all into the small stuff.

Apparently CFP is into pooling money and basically using that money to invest into other funds such as itself all the while charging management fees.

CFP is currently trading at a premium to its net asset values in excess of 26% plus

From what I'm told CFP is basically almost working like a ponzi scheme ~ except that they are trying to at least invest the money they have in other closed end funds.

CFP has a killer dividend yield of 17.25%

Cornerstone Progressive Return Fund (the Fund) is a closed-end, diversified investment company. The Fund's investment objective is to provide long-term total return. The Fund's portfolio includes equity securities, convertible securities and short-term investments. The Fund invests in sectors, such as closed-end funds, information technology, energy, financials, healthcare, consumer staples, industrials, consumer discretionary, materials, utilities and other. The Fund is managed by Cornerstone Advisors, Inc...

I'm thinking that with the large yield there is no way that they are earning enough to maintain such a pay out and eventually they will have to adjust the amount ? seek additional share offerings ??? on a closed end fund ???

Either way I'm betting that the sp 500 will gain while CFP maintains if not decreases...

Hopefully the yield won't catch me... however given how TMF adjusts for dividends ~~~ hopefully I'll be more lucky than good and the market will run up faster than the monthly yields take down my starting price...

Sincerely,,,

LORDZ

panda72 (99.45) Submitted: 5/4/2013 9:27:37 PM : Start Price: $5.03 CFP Score: +5.80

Real money yield play that is exceeding expectations.

kevday (99.07) Submitted: 3/11/2013 1:04:11 PM : Start Price: $5.63 CFP Score: -1.34

20% premium!! will eventually end badly

brking69 (44.95) Submitted: 12/9/2011 3:56:26 PM : Start Price: $4.94 CFP Score: -8.86

Yeah, another risk with this one. It hasn't been around long either. But, since early 2010, the price has not fluctuated much. And the monthly dividend has been quite consistent. I would keep an eye on it. I'm going to bail if it gets below 5.25, keep it for long term otherwise. Be sure to invest in an IRA as a DRIP!

RXDOC73 (99.14) Submitted: 1/24/2011 8:16:25 AM : Start Price: $5.01 CFP Score: -8.26

Great divi

bigbenjewell (99.65) Submitted: 12/30/2010 11:26:26 AM : Start Price: $4.76 CFP Score: +4.66

Closed-end stock fund selling at a substantial premium to NAV.

BoilerUp82 (46.87) Submitted: 9/28/2010 6:53:56 PM : Start Price: $4.28 CFP Score: -3.41

Div. will out perform the market this year.