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Pimco High Income Fund Pimco Hi Message Board

  • joycey711 joycey711 May 18, 2009 10:33 AM Flag

    Compare the performance of PHK

    to HIX and EAD for example. The PIMCO brand does make a difference and Bill Gross actively managing this as of Friday is huge.
    Look at today's price action since the announcement. A great buy and hold, if for nothing else than the divvy, IMO

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    • jdfunnell@sbcglobal.net jdfunnell May 20, 2009 10:54 PM Flag

      I certainly agree a "bear raid" could crush this, as it could crush anything.

      However, were that to occur, I think it would have happened before now. Additionally, aren't bear raids more designed to drop a stock from 40 to 3, rather than dropping it from 8 to 4? Is there really that much interest?

      At this point, I score this match 15-15. Feel free to re-score on your next volley......Dave

    • They didn't fight MAdoff too..they didn't fight Soros or a host of other big names..
      Who cares that Bill Gross manages this fund (do you honestly believe he is the manager, like he has thetime to dedicate to this puny fund among the hundreds of billions he manages in other funds?)
      He is not a magician (nor is anyone else) who can jumpstart the securities in this fund 60-70% over their current levels overnight..
      this is the reality of the fund today - by owning it, you own a bond that trades at 60 in the market place but you pay 100 for it..
      Just hold it long enough to see what happens when bubbles burst.They all burst.

    • ny-er, im sure your a nice guy and are secure in your investing strategies, but gimme a break. the investment world doesnt fight bill gross or pimco.
      maybe you have nothing to keep you busy ( grandkids, projects, etc). the time you spend doing "your math" and posting is wasted time as i see it.

      people enjoy your divs and ultimately, pfk will pay off.

    • "It is nice to see logic works with thinking people :)
      He who saves one soul can feel as if he saved the whole world..."

      Jesus Christ it's Jesus Christ!
      Get some professional therapy , friend.

    • nks for the fairness and graciousness of your comment.
      There is no way that my posts can effect PHK price in a meaningful way and I hope people here realize it (most don't by their comments).
      I think you can see PHK going down when people realize they have other less risky alternatives that pay roughly the same dividends with less risk, are cognizant of the mispricing etc.
      Also, if hedge funds look at this more seriously, we can see a meaningful wave of shorting that will break the back of this baby..run through stop levels retain investors have to protect profits or limit losses and create a snowball..all of a sudden NAV will look much more meaningful and people will curse themselves for not noticing or ignoring it.
      BTW, the dividend is far from safe in PHK..like all HY funds it will have to cut it eventually when defaults rise (or keep paying from NAv - which is as bad).

    • I applaud your investment acumen but can you show me ONE instance where I posted a message where PHK was trading at 3, or better yet below its NAV or better yet even withing 10to 20% above its nav that said PHK is a good short against another long on a different etf..?
      I only short PHK when it is insanely over priced and go long another fund to cover the carry trade..
      At 3 PHK was probably a buy for a trade, just like at 8-9 it is probably a short - for a trade (even unhedged).
      PHK trades now as a very speculative stock, not like a bond fund..driven by momentum players and hype of Gross galore..a Bubble, not more and not less..bubbles blow up, let's see how long it takes for you to buy it back..
      On another front..what made you sell? (not that there's anything wrong if you did buy it at 3..)

    • It is nice to see logic works with thinking people :)
      He who saves one soul can feel as if he saved the whole world...
      True, and I am glad I got it just a touch below NAV but for the trade I talk about being a few % points over NAv means nothing when one shorts PHK at 70% ABOVE nav..
      DSU is more conservative than both but yield a few points lower, a good etf to use against the short of phk as well , in my opinion.

    • whenif Gross feels the heat regarding paying out of capital it may have t result in dividend cut. no reason to buy this instead of a discounted similar hy fund i do have dhf and hyb neither a great performer but seems dividend much safer.

    • jdfunnell@sbcglobal.net jdfunnell May 19, 2009 11:12 PM Flag

      I think you post deep belief and appreciate the passion you have in that belief. Not once have I thought you have posted lies in an effort to talk your book. I understand you talk your book, here, (and you know you do), but not for a competitive advantage, but rather to spread the word of what you think to be correct. I really believe you really mean that. So thanks.

      I just think you are wrong.

      And I'd like to play some tennis with that thought.

      When "securities" are owned, in size, by institutional investors, massive selling can crush a market price within minutes. But the institutional ownership here is 2.75%, if we can believe the NASDAQ data I accessed circa ten minutes ago.

      One might conclude this issue is owned largely by individual investors.

      One might also conclude the critical mass of those individual investors own it for the dividend.

      We can infer, or conclude, that last statement is correct by observing the volume and price action when PHK has announced dividend deferrals. And when the dividends were ultimately paid, the price and volume action said the same thing:

      The dividend is everything.

      Because we do, and will always, live in a Benjamin Graham "Mister Market" world, can you give me a scenario where the market price of PHK drops significantly absent a dividend reduction?..........Dave

    • 12.9% yield with 27% leverage??? Not impressive in today's HY world (IMHO).

      Ex

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