Phillip Goldstein Investment Activities and Business Ties

Phillip Goldstein is a well-connected investor with a long history of business ties. He has been involved in various investment activities over the years.

Goldstein has been a key figure in the investment world, with a network of connections that spans multiple industries. His business ties are a testament to his expertise and reputation in the field.

One of Goldstein's notable investment activities is his involvement in the short-selling of companies. He has been known to take a critical stance on companies he believes are overvalued, and has made significant profits from his short-selling strategies.

Phillip Goldstein's investment activities are quite unique, as he targets corporate executives and closed-end fund managers with his hedge fund, Bulldog Investors. He's got a distinct strategy that involves buying 5-10% positions in closed-end funds trading at a significant discount to their Net Asset Value (NAV).

One key aspect of his strategy is to use proxy contests to change the funds' board and take control of the fund. He's got a powerful tool in his arsenal, which he's not afraid to use. Last Friday, he disclosed a 10% stake in First Trust Strategic High Income Fund III (FHO), which is currently trading at an 11% discount to its NAV.

This move is likely a result of his expectation that interest rates will edge up over the next year, making it a better opportunity for investors to hedge their risks.

Phillip Goldstein, a leading activist investor in closed-end funds, is concerned about the impact of a recent SEC decision.

The SEC decision protects fund operators at the expense of shareholders, according to Goldstein.

This ruling will widen discounts and make closed-end funds less attractive in the future, potentially affecting investors like Goldstein.

Phillip Goldstein and Andrew Dakos' Bulldog Investors has set its sights on First Trust Strategic High Income Fund III, a closed-end fund trading at an 11% discount to its Net Asset Value.

This fund is a prime target for Bulldog Investors, as it's one of the few hedge funds actively trying to close the discount gap.

The fund's current discount is a significant opportunity for Bulldog Investors to create value, as it's not uncommon for closed-end funds to trade at 10-15% discounts to their NAV.

Bulldog Investors will likely use proxy contests to try and take control of the fund, as this is their most effective tool in pushing for action.

The fund's operators are likely to resist any attempts to close the discount, as it would reduce their assets and fees.

We can expect Bulldog Investors to take a larger stake in the fund if they can hedge their NAV risk effectively, which would give them more bargaining power in their negotiations with the fund's operators.

Phillip Goldstein is a seasoned investor with a strong presence in the business world. He serves as a member of the board of directors for several prominent companies.

Goldstein's board seats include Imperial Holdings, a company listed on the NYSE under the ticker symbol IFT. He also sits on the board of the Mexico Equity and Income Fund, listed on the NYSE as MXE. In addition, he is a member of the board for ASA Ltd., which is traded on the NYSE under the symbol ASA.

He is also a director for the Special Opportunities Fund, trading on the NYSE as SPE. Furthermore, Goldstein holds a board seat at MVC Capital, listed on the NYSE under the ticker MVC.