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Fifth Street Finance Corp. Message Board

  • wardsown wardsown Mar 9, 2012 10:28 AM Flag


    Up, up & away for FSC!

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    • I can truly understand your enthuisiasm and I surely hope FSC will continue to rise (althugh I do not have any right now) because that will mean the stock market will continue to rise. There seem to be a lot of good news such as the successful Greek swap and the steady job data. Yet if gas price remains high and continues to rise, I just cannot see this recent really continues. FSC is indeed a good BDC for long term, yet its recent NAV was only 9.88 and it was traded as high as 10.00 today, already with a small premium. The market will almost definitely retreat any time soon now, therefore it would be extremely risky to BUY any FSC and for that matter most BDCs and hold them for LT because of their seemingly HIGH dividends. Most of them will drop soon.

      Actually today will be a terrific day to buy some SMDD, just as insurance. I bought some earlier at 12.09 and then again at 12.01. Tried to buy more at 11.93 but it already bounced back from its daily low of 11.97 to the current 12.04. If you have a lot of longs you may want to consider buying a few shares at its current price for insurance. But make sure that you won't hold it longer than 3-5 days or you will definitely lose money even if the market tanks. GL.

6.35+0.07(+1.20%)Oct 6 4:00 PMEDT