Cornerstone Strategic Value Fund (CLM)

[bar1080]

"Their expense ratio is only 2.28% which isn't abnormally high for a fund."

2.28% is pretty high. The expense number I saw for GOF was less than that. But 2.28% may include the interest charged on the margin which I guess is pretty much unavoidable if you want leverage. That's certainly high for the portion that's nothing but an S&P 500 index fund.

If you think you can time the highs and lows of GOF you're probably going to be disappointed.

If you're buying for a long term hold (which is likely the better approach) then you should build "your own fund" from a mixture of ultra low cost stock and bond funds. There are also some ready-made balanced funds. I know one young investor, just starting out, who bought the venerable Vanguard Star Fund, a cheap Fund of Funds.

There's little reason to pay more than a couple of tenths of a percent in fees these days. Lord, How I Love Vanguard!