High-Yield CEFs: Your Portfolio's New Sugar Daddy

Money doesn't grow on trees, but apparently, it does grow in closed-end funds - if you know where to look and don't mind a dash of financial acrobatics in your portfolio.

The BlackRock Cash Machine

BlackRock Debt Strategies Fund (DSU) is strutting around with a whopping 12% yield, making bank accounts look like penny pinchers at a luxury auction. Drop $20,000 into this bad boy, and you're looking at $2,400 annual pocket change - enough to finally upgrade from instant ramen to the fancy kind. With 1,250+ holdings, it's more diversified than your grandmother's antique collection, though its ...