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MCG Capital Corporation Message Board

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  • yando1946 yando1946 Apr 27, 2008 5:50 PM Flag

    rights offering/value destruction

    I bought at 10 assuming the inevitable dividend cut was already baked in and there would not be much more of a drop. Wrong.

    In any case, as someone who has owned ACAS and AINV for along time and gone up and down I am use to every offering leading to a lowering of value for a while and dripping along only to come back (waiting for that to happen again btw). The only question is will the $50 million be invested in ths risky climate in a manner that produces new real value. I don't know--I did far less due diligence than usual when I bought 1,00 shares.

    Of course it is hard to do real due diligence because all these BDC's are shrouded in mystery to some degree or another.

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    • the climate for stocks is getting heating up

      Coffee is hot for can invest with no fear of reprisal from weak short who bet again lcdx, commercial cdx
      bbb tranche of rmbs, euruostoxxx futures.

      Soc general guy got new job in IT...Now he cant go to jail because he has wages

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