Made the mistake of catching Cramer's show tonight. A caller asked him about PSEC tonight. So he punches in the symbol, sees it is a BDC and without any knowledge whatsoever tells the caller not to buy he doesn't like the sector. This is why I dislike his show. He makes quick, cursory opinions on stocks he knows little about. I have owned PSEC and accumulated since 2009. I will not sell PSEC. I enjoy receiving that monthly dividend check and have used those to buy more stocks.
Develop your criteria for what you are doing,check the actual facts and market behavior.
Cramer is always and will continue to be a Clown , good for a laugh or two,but do not follow his advice
follow your own.
I'm not a fan of Cramer. I usually eat dinner when he starts his show starts so I don't see more than the first few minutes.
///He "blessed the company" 06/24/2013. Guess he forgot///
Actually he was right on that call---so far.-- PSEC's price on June 24 was $10.41 and we received $0.44 in dividends since. Today's price of $11.61 gives us $1.20 price appreciation plus the $0.44 dividends for a total of $1.61 on an investment of $10.41 gives us a gain of 15.46% in less than 3 months.
I am holding my shares and dripping the dividends into additional shares each month but the fact remains buying shares on June 24th at $10.41 was a good time to buy shares. A better time than today at $11.61. At least $1.61 better.
I love to watch Mr.. Cramer. He is very entertaining. I'm still going to hold PSEC regardless of what he thinks. However, Mr. Cramer points out that there is always a bull market somewhere, with that said,. I want to share something with you. The Asian markets were fearful and waiting for the feds decision today. Their decision influences what happens in the global stock market a day before it happens. The feds decision today was very bullish for the stock markets around the world. You can make a lot of money if you know what is going to happen before it happens.