Who is paying a 27% premium for Guggenheim Strategic Opportunity Fund (GOF) ? Don’t get me wrong. GOF is a fine fund, delivering 9.8% yearly returns on its net asset value (NAV) since inception. But we are talking nosebleed valuation territory for GOF. It’s a dangerous purchase at these levels. Bandwagoners buying today are unlikely to see 9.8% returns. Or anything close . Plus, they are exposing themselves to 27% downside risk because, as we’ll discuss in a minute, GOF eventually finds its way back to par. How can a premium like this exist? GOF is a closed-end fund (CEF) with a fixed pool of shares.… Read more