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  • youcanpickum youcanpickum Oct 28, 2008 2:36 PM Flag

    At this price, KFN is a no-brainer -- Part 1

    Company is looking to accelerate timing of earnings call. IR. No word on when though. Expected release would be 11-7 anyway. I estimate NAV is negative now with mark to market. A casual look at some of the bonds in the portfolio, though these are not the senior bank debt shows them falling off a cliff in the past month so bank debt has fallen as well. This should not trigger covenants as they are cash flow related. I would vote for dividend elimination for now to save over $200 million in the next year and buy back stock with the cash.

 
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