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Fifth Street Finance Corp. Message Board

  • tonofelephant tonofelephant Nov 14, 2012 11:27 AM Flag

    Great Day, bought more FSC

    Triggered a standing buy order today for FSC. Very pleased. Hope this goes as planned.

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    • Tonofelephant: I enjoyed reading your response to Jerry. You said it better than I could.

      I could not say I was not sweating today, watching my account balances free falling and every single one of my holdings including some supposedly "safe" pref. stock CEFs fell off their bottoms, the only holdings that did not fall were DXD and GLD....

      But these are only paper losses, I was too busy in deciding which stock to sell and then which one I should turn around to buy then trying to worry my losses....I did end up buying some FSC at 10.03, did not catch its low though. I also bought more SLRC and ARCC, and sold off many others that paid less than 8% yield....

      At the end of the day, it was only a game and the average yield of my portfolio just shot up from the previous 8.1% to 9.74% even though I lost 15K today.....LOL

      Tonight when I go home with my wife (we carpool together), I am quite content since we just went visiting our daughter and new grandson last night...He is so cute....I do not really need that much money...

      I am glad there are people who have the correct priorities like you....Money is only money.....There are many other things that are more important and I am grateful with what I got.....

      Again, thanks.


    • another happy face. You guys need to cut back on the Prozac. Suggestion: try looking at the stock's NAV. Has buying at a discount ever crossed anyone's mind?

      • 1 Reply to jerry.blown
      • Yes Jerry. That is why I bought FSC at the price I did. It is not a discount & probably wont be. Did buy it at 2% over NAV which is the target price I established 4 weeks ago, when I put in the order for FSC. With previous purchases of FSC still leaves me below NAV.

        I believe in owning stock at a decent price & collecting dividends not agonizing over the lowest possible price a stock can hit in the next 3 years & waiting for that event to occur. Or being worried about what other people think. Notice Jerry I did not deride you about your medications or your inability to pull the trigger on stocks. Just pointing out that I do have reasoning behind what I purchase. If the stock still goes down after the purchase, I am prepared for that. I am in it for the long haul.

        I hope your decision to purchase stock or not purchase stock is based on equally solid ground that you can live with. Not on what other people tell you to believe.

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