They just put up October 31st portfolio breakdown:
Investment grade allocation is growing, High Yield Allocation is falling. In fact they have a higher percentage invested in Investment grade bonds than high yield bonds on 10/31/2009.
"Since the price of the stock was quite low during the early months of the period ending September 30, is this return somewhat overstated relative to today´s price?"
No, I mean, it is what it is. In that period it gained around $545 mil on its investments. Also, the leverage that phk uses is used most effectively and efficient, lots of bang for the buck. Phk management is perhaps the best in the investment world at efficiencies in this area. As you're aware I'm sure, leverage is a two sided sword. When used properly it does some very good things at enhancing more moola to its shareholders.
Anyway, it all seems to be working out for anybody who has bought into phk. Imo, it continues to go sideways for awhile and then move up a bit ( as long as politics don't get any crazier than they already are.)
I really don't like to get technical on any of my investments, other than, results speak for themselves and the rest can pack sand.
So anyway, what about that babe from that other post.........Yikes, talk about a booby trap........lol,
Hi Drawstring. You make some interesting poits. Will you tell me what you think about this? The total investment return, as you say, is 102.21%. But the footnote says the calcultion is "calculated assuming the purchase at the current market price....and a sale on the last day of each period". Since the price of the stock was quite low during the early months of the period ending September 30, is this return somewhat overstated relative to today´s price? Also the ratio of net investment income to average net assets is indeed 18.15%, but the net assets were quite low during the early periods (as assets were sold to retire preferred and as the price of assets was marked down during the worst months of the bear market. Probably, the denominator surrered a lot more than the nurmerator thus pulling this ratio up. I would appreciate your thoughts. Thanks, Jack
"has anyone analyzed the holdings and what the dividend is or would be on the holdings?"
Analyze this.....you need a break........lol
Actually, you need to look around a little more shortstain.......sheezzzz. I hope you never aspire to be a cpa......what a laugh that would be.
Just for your own info, the net realized and change in unrealized gain on all investments, etc. is $4.07, for a total investment return of around 102%.
Also to mention, the ratio of net investment income to average net assets is over 18%. Add to that the fact that the nav has been steadily rising (for the most part anyway) and its easy to understand why investors hold phk in high regard.
When all is said and done, results are what matters, not some laughable shortsighted moronic shortstain posts that are continually 100% wrong.
The object is to after all, make money: http://finance.yahoo.com/echarts?s=PHK#chart3:symbol=phk;range=ytd;compare=xphkx;indicator=dividend+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined
Simply put, anybody who has been long phk has/is continuing to profit very well. On the other hand, anyone who has actually shorted it has been reamed big time.
As far as the future goes, well, who knows (certainly not you shortstain putzes.)
You don't have to analyze, just look at page 29 of the Semi-Annual Report.
For the 6 months ending 09/30/09 Net investmentment income was $0.51 a share and dividends paid were $0.73 a share.
30% of the dividends were a return of capital.
Actually, I'm not sure that would do that much good.
They move pretty fast and there's not much about the future you can calculate from the rear-view-mirror views they publish.............Dave