“One of the interesting thing about the world today is the opportunity to earn big yield.
“One by one, opportunities have been picking up. What’s a little bit troubling is that nobody wants these opportunities,” Gundlach says. “A lot of them are in closed-end funds. Closed-end funds are incredibly cheap; The average closed-end fund is traded at a 10 percent discount and yields 7.71 percent. You can pick a subset that yields 11 percent or 12 percent. We can get 12 percent buying a $100 bill at $85 of its value. That’s a15 percent discount and nobody wants it. You could see 15 to 20 percent returns on closed end funds, it’s a true no-brainer.”