Jumping in the Closed End Fund Pool?

We have long written about closed end funds as one of the all time best examples of an inefficient market.  We extend this to the foreign listed hedge funds too, and some older posts here:

Hedge Fund ETF

Buying Hedge Funds at 50% Discount to NAV 

Anyways, I really feel for the people who had advisors that allocated to the CEFs trading at a 40-80% premium to NAV (distinguishing from those that bought it themselves, that’s your fault).  There isn’t a more sure fire way to lose money than to buy something worth $1 for almost $2.

Video below of doing something similar without first doing your homework (mildly not safe for work due to profanity).