Just curious. Why would your investment strategy be to buy no bids that after many years are still no bids? The maximum write off on incurred losses on a yearly basis even with loss carry forward makes only minimal tax basis differences?
The likelihood that any no bid company will ever come back is so small that I just fail to understand how this might be considered by anyone as an investment strategy? Wouldn’t it be better to buy CEFs trading at a discounted NAV that are paying 5% dividends or a mortgage REIT paying a dividend?
Maybe I am missing something here. Love to understand your strategy of buying and holding? No bids