On August 2, 2018, I bought 35 shares of Cornerstone Strategic Value Fund Inc. (CLM ) at $14.28 per share. With its monthly dividend of 0.2365 cents per share, this latest buy has a dividend yield of 19.87% and will pay me us $8.28 every month. Awesome! 

Wait - dividend yield of 19.87%? Isn't it alarming? It is indeed. I have been watching this stock for a while already and temptation having one in the portfolio was greater than anything else. In fact, I bought this stock as the first stock for our newborn baby (she was born in the middle of July), and despite originally I had an idea of investing in some kind of baby stocks, see: 2 Baby Stocks To Have in Portfolio but at the end I come up with a plan to build high-yield $10,000 child investment portfolio by the time she will turn 2. (July 2020). Right now we are looking at $80-$100 monthly dividends by the time baby will turn 2. 

I don't plan to go for a separate child investment account, instead, I will keep investing in my own portfolio, but will keep a separate Google Spreadsheet to track baby dividend progress. See: Simple Google Spreadsheet to Track Stock Portfolio Changes Using GOOGLEFINANCE

For the rest of the year, I'm we are looking to get a dividend income of $41.4 from this stock, which is about 3.4% from my personal $1,200 goal for 2018. 

2017 in Review and Financial Goals for 2018

About Cornerstone Strategic Value Fund, Inc. (CLM)

Cornerstone Strategic Value Fund, Inc. is a diversified, closed-end management investment company. It was incorporated in Maryland on May 1, 1987 and commenced investment operations on June 30, 1987. The Fund’s shares of Common Stock are traded on the NYSE American Marketplace under the ticker symbol “CLM.” Although the Fund’s Common Stock has frequently traded at a premium to its net asset value during the past several years, shares of closed-end funds often trade at a discount from their net asset value. Closed-end funds differ from open-end management investment companies (commonly referred to as mutual funds) in that closed-end funds do not redeem their shares at the option of the stockholder and generally, list their shares for trading on a securities exchange. By comparison, mutual funds issue securities that are redeemable daily at net asset value at the option of the stockholder and typically engage in a continuous offering of their shares. Mutual funds are subject to continuous asset in-flows and out-flows that can complicate portfolio management, whereas closed-end funds generally can stay more fully invested in securities consistent with the closed-end fund’s investment objectives and policies.

The Fund’s investment objective is to seek long-term capital appreciation through investment in equity securities of U.S. and non-U.S. companies. There is no assurance that the Fund will achieve its investment objectives. In determining which securities to buy for the Fund’s portfolio, the Fund’s investment adviser uses a balanced approach, including “value” and “growth” investing by seeking out companies at reasonable prices, without regard to sector or industry, which demonstrate favorable long-term growth characteristics. Valuation and growth characteristics may be considered for purposes of selecting potential investment securities.

The Fund may invest without limitation in other closed-end investment companies and ETFs, provided that the Fund limits its investment in securities issued by other investment companies so that not more than 3% of the outstanding voting stock of any one investment company will be owned by the Fund. As a stockholder in any investment company, the Fund will bear its ratable share of the investment company’s expenses and would remain subject to payment of the Fund’s advisory and administrative fees with respect to the assets so invested.

Can't wait to see these 8 dollars turning into something huge after years to come