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Bexil


SugarRE
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Does anyone still own Bexil?  I'm a newbie to corporate governance, so I'm trying to figure out if the board recommended votes are anything other than entrenched management further entrenching themselves.  See: http://www.bexil.com/pdf/2018-Bexil-Annual-Report-and-Proxy-Statement.pdf 

 

At its core, this one is cash and an 11 mm holding in DNI, a closed end fund run by the same management team, which trades at a 20% discount to NAV.

 

Thanks for any time anyone spends on this.

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I owned it briefly in 2006. Thomas Winmill appears to me like a scumbag from actions alone over the years. Tuxis, Winmill, and Bexil are all set up to enrich management and they treat shareholders horribly. They have a bad track record, their funds charge outrageous management fees (not honestly sure how they raise money for their funds). The whole thing wreaks of filth. There have been times when their companies trade below net-cash and they don't buyback stock yet they preach value investing and talk about the importance of growing book value/share. They have clearly failed at that goal. I wouldn't go near this stuff. You can potentially make money from a cigar butt puff but you can get wrecked on this name too. I just wouldn't waste my time personally and move on to something that's easier. Wish you the best!

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