Discounted closed-end funds aren't exactly the most headline-grabbing part of Wall Street. The elite investor also mentioned Elon Musk while explaining his fondness for these niche funds. "The majority of Warren Buffett's holdings when he was about to enter that class were discounted closed-end funds," Weinstein said. "In closed-end fund arbitrage, you can actually control your destiny," he said. Weinstein's firm takes activist positions in closed-end funds run by BlackRock and other big asset managers.

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Persons: Boaz Weinstein, Taylor Swift, Warren Buffett, Elon Musk, —, Scott, Weinstein, Benjamin Graham's, Warren Buffett's, Elon, Buffett, Ed Thorp, Warren Organizations: Service, Saba Capital Management, Bloomberg, Berkshire Hathaway, SpaceX, Twitter, BlackRock Locations: Wall