A DA candidate’s big-money problem: Why Tali Farhadian Weinstein’s millions matter

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Boaz Weinstein’s firm, Saba Investments, specializes in targeting closed-end funds, taking sizable equity positions and initiating proxy fights to force the firms to liquidate part or all of themselves. The proceeds go to Saba and other investors sophisticated enough to take advantage of what is happening. Many of the retail investors who own closed-end funds tend to passively clip their coupons and collect their monthly payments, not always reading the fine print of tender offers and other shareholder announcements. Knowing this, corporate raiders like Saba can slip under the radar, force tender offers and other liquidation events, and leave a fund weaker and smaller, and its remaining shareholders poorer.