It got cheap enough where buyers came in, that's all you're measuring. That's not exceptional and it's not predictive.
Hedge Fund criminals will be back tomorrow for a second bite. They always do a false bottom, then gap it up at the open, and then whack it. They need spending money for their weekend parties at the Hamptons. Remember Martha's Vineyard vacation coming up in August, that will cost money too. Who will pay for this? Line Longs, who else?
Ah yes, ad hominem attacks. Well, I did call you a loser once, come to think of it, but it was accurate for that trade we were discussing.
Where are LINE and LNCO going . . . and in what time period . . . who knows? No one can know the future. This market washout continues and intensifies into a 10-20% correction (or a crash, as some have been calling for), and we could easily see the $26-28's again, but I can't imagine it going any lower, buyers would come in at some point, as they did today, the yield will support the price to some extent. The low $20's again? Only in a crash, and on that darkest day. Dry out that powder if you fear that.
Otherwise, if we go sideways for awhile, Q2 numbers are critical, and it's tough to say where they will come in. Assuming they can book the latest acquisition income at April 1, as they stated, that might juice the stats. NGL's are always an issue, as LINE has been unable to hedge. They used $37.50 in their guidance, actual NGL prices were in that ballpark, but it depends on the mix.
All in all, probably nothing in that report to cut us off at the knees. Aside from news on sales, we're probably at the mercy of the broad market right now. It could get ugly. Or not. Who t f knows? We're so far above the lows I can't see adding in here if you've already established a full position based on your criteria.
bDCs usually payout ordinary income. Which is not comparable to a partnerships tax sheltered cash flow.
BDCs are almost always some type of lender. Many still utilizing hot money to fund long term liabilities. As there is often a huge gap between long term asset and funding duration, a rise in interest rates could really give them a wack. But as the 'management' compensation is so extreme, managers usually take on the funding gap exposure to increase the asset 'growth' rate. It is not as wild as before the Progressive housing crash, nor has it generally improved to a mature and prudent level. Misalignment of interests.
Which has become a concerning wart on the otherwise very fine ARCC. ARCC has limited asset growth and established long term liabilities against a primarily floating rate asset base. If interest rates do go up in a controlled fashion their spread could generate powerful distributable cash flow growth. Perhaps it will come down to book. I do not like paying over book to establish a position in a BDC.
So all in all it is not so surprising the BDCs are relatively cheap in a fully valued general market. The incentive to take on additional risk by the managers is a significant problem in an unstable or unnatural economy. As the American economy remains.
If LINE management is successful in reducing perceived risk, the units will appreciate until the yield is well below BDCs. As it should be.
I really do not believe the recent economic growth rates and most especially income growth rates. Bit if Obama is not playing games as usual, it would be great news for LINE and not so great for most BDCs. The funding gap risk is very real.
Not whining just don't like retreats in any stock. Especially when I want to get out at a certain price again and wish not to buy anymore. For LNCO is taking the place of LINN
As I told you when volume turns that is when to buy.
Really that new baby word you are using as a name is really childish. You appear to have grown out of your childhood days but maybe not.
He is delusional. And anyone who uses that word he came up with. really can't be taken seriously. I mean come on doggtown you can step out of your tween age.
Never heard you make a call Poopie, just whining and crying every time the stock dips. Tell us where Line and Lnco go next and stop monday morning quarterbacking my calls you pathetic troll.
From the dark of the cave the secret knowledge of the great Mog-ur.
Surfer dude spending idol days pleasantly high on the beach is fine. So fine that an able bodied young man should receive welfare to enable this life style.
No it is not the same vision as Elton John taking powerful stimulants and becoming a recluse to focus all on the music.
Nor is it the talent challenged KISS. Not taking drugs to work harder than anyone else.
But this is not important. No no as the Denisovans say.
A large profitable American drug company did all the Progressives encourage and received a 16% effective tax rate.
Jon is a High Denisovan so he is better at math than average. But clearly it is simply to much for even a High Denisovan to understand investment decisions are made at the last margin dollar. So the fact the company paid an average 16% is simply irrelevant to running a business.
But what clearly escaped Poor Jon in his emotional state was the company is paying taxes. It is even doing plenty of what the Progressive Denisovan wanted and so received tax credits as an incentive. From the world's highest marginal corporate income taxes.
Surfer dude is not paying taxes. Surfer dude is taking welfare money. Which enables surfer dude to follow his dream of being some sort of rock star. Which is not the same as offering something of quality or value.
Denisovan like Jon can and should avoid all the complexities they do not have the capacity, by their temperament, to understand.
Just lower and broaden the marginal corporate tax rate. Stop trying to be a collectivist tribal control freak. Understand the cromags will then make rational decisions about their business.
Otherwise we are left to live in Jon reality of a long distant past without logic, reason or personal humility.
In the Denisovan economy we have unlimited surfer dudes while all the cromag business people escape to countries with lower marginal taxes and energy costs.
Is it revenue or behaviour Jon Demands?
You've called me worse, but claiming a washout day on the markets is a fulfillment of your prediction on one security is delusional.
Funny how both Line and Lnco both broke through and then recovered to close almost exactly at the bottom Bollinger band. Lnco also tested the 200 day sma today.
Looks like we attracted some income buyers later in the day, and managed not to follow the S&P flush. It was ugly, but VNR was down twice as much before buyers stepped in. LINE and BBEP didn't get back as much, but they weren't as far down either.
And it wasn't an interest rate thing, judging by the REIT"s. RSO was flat, NLY was down 8 cents. Oil was down, but everyone should know these things are hedged against that. Just a general lack of faith, you might have thought the yield securities would have been a safe haven today. Too much bad blood from all that nonsense last year.
You know his charts couldn't predict this severe pullback. And if people went on what he said about the low holding that he called they are down. doggtown also has a very bad attitude when you point things out to him or have a difference of opinion kind of like Norris.
Oh yeah, I forgot, you predicted a 38 point down day on the S&P. Anyway, you said that about ARP on July 23, when the unit price was a whopping 30 cents higher. Some pullback.
Countries that are waring in the ME aren't oil producers. As far as the oil producers they are safe. Bottom line is that there is a lot of oil out on the market. Seen this before and I hope all you oil and gas investors have seen his before as well. LINE hasn't released any news since the last deal. And nothing about BRY integration and XOM nat gas deal looks like a down the road scenario for the bottom line cash. OIL is dropping and nat gas is dropping do to as I said over supply.
this isn't gonna be over fast with Russian sanctions Europe goes down big this isn't very nice but I can laugh at idiots who will confuse you but if you are of a certain vain you will believe nonesense