How One Author Is Revitalizing Value Investing Through Closed-End Funds

In honor of the 50th anniversary of Warren Buffett’s very first shareholder letter, a new book is making waves in the investment world—A Dollar for Fifty Cents: Proven Strategies to Outperform the Market with Closed-End Funds by portfolio manager and financial authority Michael Joseph, CFA. This groundbreaking guide is the very first release from IW$ Press, a bold new imprint under Kallisti Publishing Inc. focused on wealth-building insights.

Michael Joseph currently serves as Portfolio Manager and Deputy Chief Investment Officer at Stansberry Asset Management. With an MBA from the University of California, Davis, and a BA in History from San Francisco State University, Joseph earned his CFA charter in 2017. He’s frequently featured in publications like Fortune and Advisor Perspectives, and he’s spoken at major events such as the Stansberry Conference and the Legacy Investment Summit.

What Makes A Dollar for Fifty Cents Unique?

For decades, closed-end funds (CEFs) have largely flown under Wall Street’s radar. Yet Joseph uncovers how these overlooked instruments can trade at deep discounts—sometimes as high as 20% or even 30%—to their net asset value (NAV). In A Dollar for Fifty Cents, he explains:

• Why these discounts exist and how they remain a long-standing, documented market anomaly.
• How to spot the best deals by tracking discount trends, distribution sustainability, and leverage.
• Ways to avoid common pitfalls like unsustainable yields.
• Keys to leveraging activist investor activity to your advantage.

“Warren Buffett’s principles of value investing are as relevant today as they were fifty years ago,” Joseph says. “This book explores one of the last places where those principles can still be applied with consistent success—closed-end funds.”

Industry Applause

Early praise includes strong endorsements from respected professionals. James Falbe, CFA, Managing Principal at Saguaro Capital Management, calls A Dollar for Fifty Cents “a masterclass in recognizing overlooked value.” Similarly, Robert Huebscher, Founder of Advisor Perspectives, points out that the book offers the essential research and guidance needed to profit from these under-appreciated assets.

Grab Your Copy and Start Winning Now

Released on April 22, this powerful guide provides both novice and experienced investors with a roadmap to capitalize on one of the market’s last remaining hidden gems. A Dollar for Fifty Cents is available for preorder now at ADollarForFiftyCents.com/Amazon or right here.

If you’re looking to outperform the market without resorting to speculation, look no further than Michael Joseph’s latest contribution to the world of serious investing.