Thursday, March 13, 2025

Death of the New America High Income Fund

The New America High Income Bond Fund, (HYB) was a fund whose sole purpose was to continue to supply compensation to all concerned with the fund. Shareholders have been bagged in this name since Patsy Ostrander became part of the "daisy chain" at Drexel Burnham Lambert. From coming public at $50 per share to the 2008 low of $3.20 this fund has to be one of the top, dismal, miserable, unbelievably crappy funds ever to exist. It was run for the sole benefit of the insiders over all those years. What an ugly history of greed and corruption, to say nothing of poor management by whatever clown shop was in charge until it folded last month.

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