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Fifth Street Finance Corp. Message Board

  • thewisejman thewisejman Dec 2, 2013 1:57 PM Flag

    Year end loss sales had just started

    since today, 12/2/13, is the first trading day of December. That was the only reason for today's down market where many BDCs including FSC, KCAP, PSEC, MAIN, TCPC, PNNT, MCGC all went down. If these next few days not the best time to load up, waiting for the Santa rally, I do not know when it would be. Be brave when the opportunities are here. I am.

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    • There will be a very SMALL window of opportunity, probably this week, or no longer than from now to Dec. 17-18 when the next FOMC meeeting will be held, for us to load up some good BDCs or good dividend stocks to get ready for a Santa rally. Now if bond tapering will be announced after the next FOMC meeting, all bets will be off, and the market will tank........................However, the chance for that to happen is less than the chance of the Obama Care web site will be working by then.

      I only bought some FSC today at 9.38 and some DXD earlier at 29.41 for insurance, knowing very well that it will continue to drop because this market will continue to rise, but with so much longs now, it will make me feel better. I also bought some TCPC at 16.91 just before closing. It announced on 11/7/13:
      "Reports Q3 (Sep) net investment income of $0.40 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.38.
      Net Asset Value per share at Sept 30, 2013 increased to $15.06 per share from $14.94 at June 30, 2013Nov 7, 2013, our board of directors declared a fourth quarter regular dividend of $0.36/share and a special dividend of $0.05 per share. Both dividends are payable on Dec 31, 2013 to shareholders of record as of Dec 10, 2013."

      Its ex-div date is 12/6/13 and if for some strange reasons it will tank again before this Friday, I will be buying more to get the 41 cents dividend.

      • 1 Reply to thewisejman
      • J-man........nice buy on the DXD. My strategy with the TCPC would be different than yours. I'd probably sell Wed. or Thursday if it rises into the X-div date. Let the next guy have the div and the drop that most likely follows.
        I can hold monthly payers like FEI, FSC,and ARCP. The x-div drops aren't so drastic. The 1/4ly payers, well I just end up trading them and generally try to avoid holding on the x-div date.

        Good luck..........Kel

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