thomas herzfeld is the chairman of thomas j. herzeld advisors-- a firm specializing in closed end funds. cecilia gondor is the chief investment officer. welcome back to n.b.r. >> thank you. >> thank you. >> it's great to see you, tom >> tom: why do the funds give discounts at the end of the year? >> tax selling. investors say where can i take a loss to offset gains, and if they have a loss they just sell it without looking at the valuation. >> tom: and what does it mean discount? >> trading below the value per share. >> tom: so if you take the stocks and divide them by the number of shares you get a higher price than the share price. >> you get a dollar of stock for 85 cents. >> tom: there are some that aren't at discount at the end of the year. does that worry you? >> you're thinking of the municipal bond funds. they're overpriceed and in dangerous range. many are trading at premiums to the value. they're leveraged companys and invested in municipalities which may have troubles down the road. there's talk of a flat fax which if

thomas herzfeld is the chairman of thomas j. herzeld advisors-- a firm specializing in closed end funds. cecilia gondor is the chief investment officer. welcome back to n.b.r. >> thank you. >> thank you. >> it's great to see you, tom >> tom: why do the funds give discounts at the end of the year? >> tax selling. investors say where can i take a loss to offset gains, and if they have a loss they just sell it without looking at the valuation. >> tom: and what does it mean discount? >> trading below the value per share. >> tom: so if you take the stocks and divide them by the number of shares you get a higher price than the share price. >> you get a dollar of stock for 85 cents. >> tom: there are some that aren't at discount at the end of the year. does that worry you? >> you're thinking of the municipal bond funds. they're overpriceed and in dangerous range. many are trading at premiums to the value. they're leveraged companys and invested in municipalities which may have troubles down the road. there's talk of a flat fax which if

thomas herzfeld is the chairman of thomas j. herzeld advisors-- a firm specializing in closed end funds. cecilia gondor is the chief investment officer. welcome back to n.b.r. >> thank you. >> thank you. >> it's great to see you, tom >> tom: why do the funds give discounts at the end of the year? >> tax selling. investors say where can i take a loss to offset gains, and if they have a loss they just sell it without looking at the valuation. >> tom: and what does it mean discount? >> trading below the value per share. >> tom: so if you take the stocks and divide them by the number of shares you get a higher price than the share price. >> you get a dollar of stock for 85 cents. >> tom: there are some that aren't at discount at the end of the year. does that worry you? >> you're thinking of the municipal bond funds. they're overpriceed and in dangerous range. many are trading at premiums to the value. they're leveraged companys and invested in municipalities which may have troubles down the road. there's talk of a flat fax which if

also on the calendar for next week: our friday market monitor guest will be thomas j. herzfeld of thomas j. herzfeld advisors. he specializes in closed-end funds. and we'll get a look at november's housing market with the latest reports on housing starts and sales as well as the final reading on third quarter g.d.p. also monday, a holiday take on the euro-zone's debt crisis. speaking of europe's debt crisis, it looks like the irish economy is slumping as the crisis drags on. a report out today shows that ireland's economy contracted by an unexpectedly large 1.9% in the third quarter. there are now new concerns about the country's ability to make critical cost cuts. ireland had been held up as an example of how a country can keep growing its economy, while simultaneously making both spending cuts and hiking taxes. delta airlines is looking to cause some turbulence for rivals united and american airlines. it's spending $100 million to boost its presence at new york's laguardia airport, adding over 100 of new flights that would make delta tops in the new york area. at the same tim

also tomorrow, our friday "market monitor" guest is closed-end fund specialist thomas j. herzfeld. he's president of thomas j. herzfeld advisors. walmart has pulled popular baby formula enfamil off its shelves following the death of a missouri infant. the baby died sunday from a rare infection, and health officials are still testing for the cause. meade johnson, the manufacturer of the powdered formula, claims tests on the food were negative. the move by walmart affects only the 12.5-ounce powdered enfamil for newborns. if you use the product, check with your local walmart. >> tom: some online shoppers may put best buy on the naughty list this holiday season. some orders placed on bestbuy.com in november and december may not make it in time for christmas. the company blames overwhelming demand, but best buy won't say how many shoppers were impacted or which products are out of stock. analysts don't expect this to cause a big hit to the retailer's bottom line this quarter. instead, the worry is it will push online shoppers to different stores in the future. >> tom: all this week, we'

also tomorrow, our friday "market monitor" guest is closed-end fund specialist thomas j. herzfeld. he's president of thomas j. herzfeld advisors. walmart has pulled popular baby formula enfamil off its shelves following the death of a missouri infant. the baby died sunday from a rare infection, and health officials are still testing for the cause. meade johnson, the manufacturer of the powdered formula, claims tests on the food were negative. the move by walmart affects only the 12.5-ounce powdered enfamil for newborns. if you use the product, check with your local walmart. >> tom: some online shoppers may put best buy on the naughty list this holiday season. some orders placed on bestbuy.com in november and december may not make it in time for christmas. the company blames overwhelming demand, but best buy won't say how many shoppers were impacted or which products are out of stock. analysts don't expect this to cause a big hit to the retailer's bottom line this quarter. instead, the worry is it will push online shoppers to different stores in the future. >> tom: all this week, we'

also tomorrow, our friday "market monitor" guest is closed-end fund specialist thomas j. herzfeld. he's president of thomas j. herzfeld advisors. walmart has pulled popular baby formula enfamil off its shelves following the death of a missouri infant. the baby died sunday from a rare infection, and health officials are still testing for the cause. meade johnson, the manufacturer of the powdered formula, claims tests on the food were negative. the move by walmart affects only the 12.5-ounce powdered enfamil for newborns. if you use the product, check with your local walmart. >> tom: some online shoppers may put best buy on the naughty list this holiday season. some orders placed on bestbuy.com in november and december may not make it in time for christmas. the company blames overwhelming demand, but best buy won't say how many shoppers were impacted or which products are out of stock. analysts don't expect this to cause a big hit to the retailer's bottom line this quarter. instead, the worry is it will push online shoppers to different stores in the future. >> tom: all this week, we'