The particular fund I want to highlight here happens to have the ticker symbol CUBA. Founded in 1994, its official name is the Herzfeld Caribbean Basin Fund, which has 69 percent of its holdings in US stocks with the rest in foreign stocks, chiefly Mexican. It gave itself the ticker "CUBA despite the fact that it owns no Cuban securities nor has it been legal for any US company to do business in Cuba since 1960 (although that may change at some point). The legal provision, plus the fact that there are no traded securities in Cuba, means that the fund has no financial interest in the country with which it shares a name. Historically, the CUBA fund traded at a 10-15 percent discount to Net Asset Value (NAV). For the first few months (September, 2014) we can see that the share price is trading in the normal 10-15 percent discount range. Then something abruptly happens on December 18, 2014. Although the net asset value of the fund barely moves, the price of the shares jumped to a 70 percent premium. Whereas it had previously been possible to buy $100 worth of Caribbean assets for just $90, the next day those assets cost $170! As readers have probably guessed, this price jump coincided with President Obama's announcement of his intention to relax the United States' diplomatic relations with Cuba. Although the value of the assets in the fund remained stable, the substantial premium lasted for several months, finally disappearing about a year later. In December 2014, can we say that all investor that participated in CUBA fund are rational? Select one: O Yes, as the price of the fund follows the NAV No, as the investors are not properly informed about the CUBA fund