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Fifth Street Finance Corp. Message Board

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  • Reply to

    OT PSEC

    by jmkdog 3 hours ago

    Well, well, the return of the idiot savant, my old buddy the dog. Hey dog, my PSEC forecast for 6.50 by year end 2015 came in earlier than I thought. I'll bet, no I know, you were totally incredulous (even abusively so) as to my prescient forecasts of 8.50 for 2014 and then 6.50 for this year.

    Well lookie here dog, this old homophobic misogynist turned out to be right on. More importantly and actionably right on than any other troll on these MB's

    That didn't stop me from going 180 - long PSEC from a sub 7 cost basis enjoying a strong div yield, for now, from a fairly safe basis. It will likely revisit the sixes again.

    I had to hold my nose, since it's still a creepy company with creepy management. Although totally contrived and well staged, that last cc will be a positive with Darth Barry putting on a good act in his new role as the candid conciliatory CEO.

    Proceed with caution and, remember:

    Never trust a lawyer farther than you throw him with your money.

    Never trust a woman or a gay with matches or a motor vehicle - they will burn it or wreck it every time and this one also applies to Janet Yellin and her stooges at the Fed.

    This is a Bruce Jenner market - doesn't know if its a boy or a girl. Don't be surprised or alarmed if you end up in bed with a trannie once in a while - could actually be a rewarding experience.

  • Anybody at all impressed with today's tape?

    Sentiment: Strong Buy

  • Reply to

    AAPL or GILD?

    by thewisejman 15 hours ago

    NFLX would be my pick, but who knows?

  • Reply to

    I DID TELL YOU I LIKE FSC

    by ryojec 17 hours ago

    Ryojec, Thanks for letting me know how you feel. Just for you I will drop my bid under $6 so it don't run the price up on you :)

  • Reply to

    AAPL or GILD?

    by thewisejman 15 hours ago

    I like XOM and OIH better than either. I do have a bid out on GILD but will pass on AAPL I read a story in WSJ about the Ca. Pension fund Calipers moving money from stock to treasury notes for protection. Made me think EVD might be bid up in the process. But the market is a crapshoot where anything is possible.

  • Reply to

    FED meets 16+17 Sep

    by ockiote 14 hours ago

    I noticed that as well! Seems like the more Dow/S&P/Nasdaq are tanking, the more green BDCs are trading. On days where market surges, BDCs are down. Weird

  • Reply to

    Enjoy a glass of pale ale

    by thewisejman 9 hours ago

    Cheers! Happy labor day everybody. This will go down as one of the crazier market weeks for sure.

    Thanks for letting us know that you will be out of the country early October. I'm making a note to buy 100% short ETFs last day of September. :-)

  • Reply to

    Get ready to buy?

    by thewisejman Sep 3, 2015 10:42 AM

    I sold 2/3 of my SH today for quick profits, will reload on any bounce back up. Markets are very volatile hour to hour, expert traders like yourself and others on this board must be loving it!

  • Reply to

    AAPL or GILD?

    by thewisejman 15 hours ago

    I bought a little of both this week, but IMO GILD is the better buy today at $102. Apple will have some issues dealing with China slowing down, as that is where there biggest growth metric was coming from. Apple is still an aspirational product for many, but yeah, they will be affected. GILD though is deriving their revenues this year through USA, EU, and Japan. China does not believe in following patents and thus has denied Gilead along with most any other biotech patents for medicine. So China could fall into a sinkhole and Gilead would not suffer.

    I do think both AAPL and GILD have a decent shot at trading below $100 again, assuming markets have more to drop. GILD has shown some great resistance this week at $101 though, very impressive. I have limit orders set up to buy more GILD and AAPL at $94 and $85 (just in case another flash crash happens).

    By the end of the year, depending on China, I expect Apple might bounce back stronger than Gilead since it is so popular with investors. I do think GILD is a heck of a bargain though, just head scratching why it refuses to trade for a higher price. Forward P/E of 9 today, when most of its large cap pharma peers trade at a forward P/E of 14 - 18. I plan on holding my shares until it starts trading at a fairer value or something bad happens that would change my thinking on what fair value is.

  • or whatever you prefer with your family, relatives, friends, significant half, a stranger, and have a BLAST Labor Day. Oh, by the way I forgot to mention that I would be out of town to attend a large conference from 9/17 - 9/20. I may not have time to trade during those trading days and may miss some very exciting actions. Therefore you may want to be very careful during those trading days since Sept. 17 just happened to be the day for the FOMC meeting press conference. However, I would not be out of the country till early October, therefore Sept. 17 may be a non-event.

  • Reply to

    FED meets 16+17 Sep

    by ockiote 14 hours ago

    Copy that. Thanks.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    On solid down days it is best to wait till near the market close. I have had a bad habit of selling to early so I waited this time. I wanted to unload my higher cost shares first at a profit of course. once done it is a wait and see game if to moves up or down from there.
    Down 16 bucks on my GGN at the end of the day. I checked their dividends back to 2009 when they were only paying 14 cents per quarter. It the dividend drops to that same area I will still be making 10% plus.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    Sold more TAXI at 7 for profit.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    Just bought back DXD at 24.33.

  • Reply to

    FED meets 16+17 Sep

    by ockiote 14 hours ago

    Very difficult to predict what the market will do. However, talking to my smart friend who reminded me that lately when the overall market tanked, BDCs did appear to perform well while when the market surged, many BDCs started tanking. Do not know if the trend would continue. I believe we need to watch oil price closely and see what the Chinese market would do on Monday (not a holiday for them). If both tank on Monday, watch out for Tuesday.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    There were 3 stooges who had posted here. Best just to ignore all of them, let them be Larry, Moe and Curly clones. A total waste of time in responding to them, IMHO.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    J1, smart to unload some SQQQ 26.88, now trading at 26.45, if it drops some more, you may be able to buy it back. I should have trusted my instinct since I set the sell price for DXD at 24.72 but then changed my mind and sold them at 24.59. I knew darn well that for some reasons shorts always either rose or dropped more in the afternoon. To sell or buy one should almost wait till about 1-2 hours before closing.

  • Reply to

    Tons of Cash but nothing to buy

    by thewisejman 16 hours ago

    I did buy some more GGN as I was down a bit on it. Unloaded 400 SQQQ @ 26.88 and another 400 @ 27.02.
    Still holding 2800 SQQQ. My UGAZ took a good hit but still alive and well.

  • Reply to

    just a heads up

    by roflmfaoay 15 hours ago

    Yep - 180 degrees repositioned since it fell through my $6.50 year end forecast (much earlier than I expected due to market downdraft). Now enjoying strong forward div yield from a fairly low risk cost basis of below 7. It could test the lows again, with the market, but even as a creepy run-off portfolio with characteristically creepy management, PSEC was a pretty safe bet under 7. Besides, it appears that Darth Barry may have gotten just a little religion and was at least faking a little courtesy and artificial candor in the last cc.

    Not to worry though, I'm guessing everyone will have another opportunity, or two, down in the mid sixes but I wouldn't bet the farm on it. It all depends on whether or not the Fed ignites a deflationary forest fire in the next couple months. As a long standing misogynist and homophobe, as you may well know, I assume the worst from any outfit run by a woman and or gay. Never trust an old lady or queen with matches. I don't know what the right answer is, but I do know that whatever Yellen and her bunch of gender confused stooges do will more than likely be the wrong answer at the wrong time.

    Bottom line boys, what we have here is what I call the Bruce Jenner market - doesn't know if its a girl or a boy. Best one can do is put your money to work in places nobody else is touching right now - if that means getting in bed with an occasional trannie, well, so be it.

  • Usually market holds its breath a day or 2 before FOMC meets. With the DOW in need of Viagra would we likely see a rally next week or flat for the next 12 days?
    Any take on PSEC @ the current price?

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FSC
6.46-0.11(-1.75%)Sep 4 4:00 PMEDT