ANALYST DAY MATERIAL
a must read
Impressive compilation of company material. Hats off to management for putting this together.
Sentiment: Strong Buy
You can also watch the entire analyst day presentation as a webcast from the investor relations section of the website. It is really nice to see all the key people "in person" and hear the story. Makes me feel even more comfortable holding the stock. Man I love that juicy monthly dividend!
i pulled it up and scanned it and it is impressive as you say, very professional and with the amount of loans in excess of 2 billion I feel the way it was state was that if we have an increase of 5% then we get 26 cents more in earnings and not if interest rates increase 500 basis points if that is any clearer. so it is 5%of the current rate. That would be much clearer and more sense with the numbers presented. VERY BULLISH and probably why we have seen a steady accumulation the last couple of weeks.
All is not well in the land of milk and honey.
PSECs long term financing costs, through their weekly Internote offerings, have risen sharply in recent weeks. Meanwhile, LIBOR, which most of PSECs floating rate loan investments are tied to, are stubbornly stuck at multi-year lows, and show no sign of rising anytime soon.
I own this stock, but I'm not panicking. Yet.
You own this stock and say;
'PSECs long term financing costs, through their weekly Internote offerings, have risen sharply in recent weeks. Meanwhile, LIBOR, which most of PSECs floating rate loan investments are tied to, are stubbornly stuck at multi-year lows, and show no sign of rising anytime soon'.
Not factual at all, the internotes are fixed rate,
Prospect Capital InterNotes®
5.000% Senior Notes due 2018 (the "2018 Notes")
5.750% Senior Notes due 2020 (the "2020 Notes")
6.250% Senior Notes due 2031 (the "2031 Notes")
6.750% Senior Notes due 2043 (the "2043 Notes"
and together with the 2018 Notes, the 2020 Notes and the 2031 Notes, the "Notes")
This cost has been the same since issuance of the senior notes.
Read the investment materials, it looks like you really need to.
Sentiment: Strong Buy
Thanks! That is 90 pages of every detail of PSEC.
Found it at the company website. There is also a 31 page presentation.
This is a must read for investors.
Wow! PSEC is conservatively run. They don't cut corners or take chances.