Except for the fact that the management benefits from constantly raising more and more money to manage, this is a pretty good company is my guess but I will wait until it has another secondary... that's the only time you can buy stuff like psec... you sure can't take a wild poke at it at random mooments in the middle of a general market sell-off! not unless that "sinking feeling" appearls to your sense of drama. Better to wait until they do another secondary and buy after the accompanying sell-off, its the only way to make money in this junk unless you consider sitting on your duff and waiting for divs as "making money".... personally i like a generous serving of capital gains along with my divs.. suit yourself but remember Lincoln's phrase about, what was it? soup so thin it was made from the shadow of a pidgeon? that's what your divs will taste like if you have lost them in advance by the stock price going down down down before you ever see the divs. so either lets these goofs fix the structure of their made-for-management company or wait till they screw shareholders with their next secondary.... it shouldn't be long now, they've been making loans like crazy for half a year. good luck to all and READ HOW THE COMPANY WORKS IN THE SEC FILINGS!!! so you understand who really benefits from all the new loans... it isn't you.
So let me get this straight. A company that is a publicly-traded closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940, as amended. Must past 90% of their profit through to their stock holders, and you are expecting massive growth with something other than a SPO or a bond sale. Here is a company that makes its monies for its shareholders (of which all senior management is party to) through loan spreads so as to provide monthly dividends (which you so obviously distain) via loaning money to small to mid cap companies. The fact that they deploy all of their investment money to viable companies that then hopefully pay back their loans providing those measly dividends that you find so repulsive must really irritate you, eh? Never mind that many of these companies are small to midcap companies in the United States that are providing employment for folks in this floundering economy. I am sure that it must also irritate you that the company is currently below NAV and under leveraged so that it will probably have to grow a little bit if this economy holds. You must have been reading a different 10k and 10q than what I was reading, and you really must have been listening to a different conference call. Maybe it was NFLX you were listening to, eh? Now there is a high flyer for you. Why don’t you troll on over to that message board and get you some real growth if the dividend is not important to you. We would all understand. Oh yeah, do us all big favor and take Jade with you.
Look, just keep buying and enjoy your FAT dividends and then after a few years you would be surprised to find that your actually annual return is less than 5% and you wonder why? Because you are just too d u m b to understand nothing counts but the overall return.
I looked at all of your posts for the past year, and they were all negative, no matter what the stock. You are just a bitter old man who has nothing to contribute, same as Jade..............BTW BDCs have caught a bid this morning and are up. PSEC at 10.62...........
yo slicktop4... go look at the CLMT news today and don't whine about my not being positive on certain symbols.... i gave you CLMT on a short list and i'm sure you spent the day feeling righteous and sitting on your mouse finger... oh well... a word to the wise is sufficient, a thousand page diatribe to a brick and the brick does not move.
wrong again... i like for instance the pullbacks in SAN, BAC and now that it has crashed i like GLD. i even like CLMT where the div is large and growing and mangement gets more in divs on the big shares it owns than they collect in salaries so their interests are aligned with shareholders. if you want leftovers and table scraps from psec hey, you are welcome to them and maybe it will trade up from here... i was just noticing that it hasn't done squat for months while the whole mkt has been going up but of course you are collecting that div and maybe feel good about it and will probably continue to love it unless management smacks you up with another secondary. all i am saying is that if they do, it will benefit them (because they own the management company that gets fees based on capital under management) but will it benefit you? will they continue to be able to pay the current div no matter how many loans they make? is the share price safe in a general market pullback? or a business slowdown? i don't know but as i said, if and when they do another secondary and tank the price again, i might buy it again if it goes low enough. meanwhile enjoy your breadcrumbs, i hope they won't get old and lose their crunch. maybe it'll trade up but if it hasn't from november to now, why should its price improve if the market is stalled or pulls back? i wouldn't short it and i have never shorted it but doesn't it make you wonder why it hasn't traded back up to high 11's or 12 as management glibly claimed it was likely to do on one of their recent conf calls after they did the last secondary? could investors possibly be finding the pattern of post-secondary sell-offs tiresome to get hit for 20 or 25% on a secondary while they collect 1% a month in divs? duh! i don't know... maybe!
That is actually very good, especially in quoting Lincoln's statement:
"“as thin as the homeopathic soup that was made by boiling the shadow of a pigeon that had starved to death.”"
You said it better than me. I guess many of these so called PSEC investors did not worry about the actual total return of PSEC as long as they will receive their FAT dividend monthly. One even said as long as you don't sell it, it will not be a capital loss. That is just priceless. Tell that to the original GM stock holders. LOL
They were talking About capital loss. So yes until you sell you do not win or lose. And you keep bring up return of Capital . There was none last year and none so far this year. So you spout false information.
Sentiment: Strong Buy