American Select Portfolio, Inc. (AMEX:SLA)
A diversified, closed-end management investment company that primarily invests in mortgage-related assets. The fund borrows through the use of reverse repurchase agreements.
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This stock will under perform on an appreciation basis but adding the high yield of a closed end fund will come close to matching s&p performance over the next 5 years.
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While this is one of my core income investments, and it has done better than my minimum expectations, it will NEVER beat or even meet the long-term S&P 500 returns. On the other hand, it is, despite its "high income/high risk" label, going to be around and relatively stable for a long time, based on its management's track record. So although it can be volatile in unsettled interest rate environments like current situation, it won't suffer big drops either.
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