Ellsworth Growth and Income Fund Ltd
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Company profile

Ellsworth Growth and Income Fund Ltd. operates as a closed-end, diversified management investment company. The Fund's investment objective is to provide income and the potential for capital appreciation, which objectives the Fund considers to be relatively equal over the long term due to the nature of the securities in which it invests. The Fund invests primarily in convertible and in equity securities, and common stock. The Fund's portfolio includes sectors, such as healthcare, financial services, computer software and services, energy and utilities, real estate investment trusts, semiconductors, telecommunications, business services, diversified industrial, food and beverage, communications equipment, consumer products, transportation, consumer services, cable and satellite, computer hardware, automotive, wireless communications, agriculture and entertainment. Gabelli Funds, LLC is the investment advisor of the Fund.

Closing Price
$12.51
Day's Change
-0.20 (-1.57%)
Bid
--
Ask
--
B/A Size
--
Day's High
12.72
Day's Low
12.34
Volume
(Light)
Volume:
58,093

10-day average volume:
87,349
58,093

UPDATE: He bought Tesla and Apple in 2013 -- now he's got $5.4 million and is asking the internet what to do with it

2:25 pm ET November 10, 2020 (MarketWatch)
Print

Shawn Langlois

He goes by the Reddit handle BawceHog and claims he's enjoyed a huge run in the market. Now the 32-year-old investor, with 14 years in the market under his belt, would like our advice.

Of course, like most unverified and perhaps unverifiable claims posted on the internet, this deserves a healthy dose of skepticism, but, after sifting through the BawceHog history on Reddit and taking into account this screenshot, the WallStreetBets gang (https://www.reddit.com/r/wallstreetbets/comments/jr74u7/i_have_a_54m_portfolio_interested_in_knowing_what/) agreed to play along:

Not a bad day -- or year, for most people. Some of the biggest BawceHog winners are Tesla (TSLA) at $154, Apple (AAPL) at $498, Facebook (FB) at $61, Salesforce (CRM) at $62 and Netflix (NFLX) at $309.

As you can see, those stocks have done pretty well in recent years:

So now what? "I have a $5.4M portfolio generating $155k/yr in dividends," BawceHog wrote in his post. "Someone recently told me about this sub and I'm interested to know what plays you [offensive term redacted] think I should make."

Several of the responses were of the "what are you doing here?" and "LEAVE NOW!" variety, including this one from ChiefLegalOfficer: "If you're not lying, close this tab, and never come back here. You have it made. Why would you piss that away?"

Probably solid advice. BawceHog, however, responded by saying he just wants to play with a small piece of his overall portfolio, so ChiefLegalOfficer joined those chiming in with tips: "If you want madness, fine. ... Take your next dividend payout and put a call on GE (GE) 10 weekly (if it's already 10, just keep bumping it up by $1)."

From there, WallStreetBets served up a batch of favorites. Here's just a quick roundup:

"Take 155k (one year of dividends profit) and put it all on NIO (NIO) $60 2022. Turn that to another mil or more."

"Tech has been going like mad because everyone is locked at home. You need something that will rally when shit gets back to normal. Something still below February prices. Banks, gas, entertainment, hotels etc. This got me thinking and as a Canadian im going to buy suncor (SU.T) jan 2022 15c. Going to buy 10 and see what happens."

"I think one of the major payment processors will be a trillion dollar company before 2030. I have plays in V (V) (Diagonals), JPM (JPM) (Diagonals), SQ (SQ) (Shares), and PYPL (PYPL) (Diagonals). If you want to be risky SQ could be the biggest winner of the group."

"PFE (PFE) and BNTX (BNTX) for obvious reasons -- vaccine news is hype very very soon."

"JETS ETF (JETS) buy and hold. TAN (TAN) buy and hold. PLTR (PLTR) and NIO long calls."

"If you're into EVs there's no reason not to buy into PLUG (PLUG) , I think they blow past $45 next year, been in since $5.50 and sitting on $7 1/21 calls."

There you have it. The internet has spoken.

Assuming BawceHog didn't break through the $5 million level by listening to randoms on Reddit, who knows whether he'll nibble at any of those plays. But, with "fun money" to spend, he seems open to the idea. "I have a portion of my portfolio dedicated to yolo'ing," he said, echoing the community's "You Only Live Once" rally cry.

After enjoying one of his most profitable days in the market yet to start the week, BawceHog is probably getting another bump, considering the Dow Jones Industrial Average was up again by triple digits on Tuesday. The S&P 500 was also higher, while the tech-heavy Nasdaq Composite was lagging.

As for the WallStreetBets fave NIO, well, not so good. The stock was down 5% at last check. Of note, that hardly makes a dent in the near-1,000% rally it's racked up so far this year.

Any tips for BawceHog? Share them in the comments.

-Shawn Langlois; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 10, 2020 14:25 ET (19:25 GMT)

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