Dividends

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With Cornerstone, some players have learned how the dilution/Rights Offering cycle works and are trying to ride along, at the expense of traditional Buy/Hold fund investors. That might work during a strong bull market like we've had since 2009, but what happens when there are no fat capital gains to fund the 20% payout? What happens to Cornerstone Funds in a bear market? Or in a period when the funds trade at a discount to NAV? If this past week or two is any guide, it could get ugly: