Professor Richard Thaler: Masters in Business (Audio)
Masters in Business
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The CUBA Fund, a Small, Closed End Fund
There's a small, closed end fund that happens to the ticker symbol c u b a, cuba. They don't own any assets in cuba, because its against the law and there aren't any. Nevertheless, for years it was selling at about a 15 % discount to its ase. When President obama made his announcement of his intent n to ease relations with cuba, the cuba fund went to a 70% premium.
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