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Prospect Capital Corporation Message Board

  • komboloi59 komboloi59 Oct 22, 2013 12:50 PM Flag

    New to PSEC Here

    After a week of DD, I'm in for 15K shares at 11.34.

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    • I don`t want to upset the board, but after reading all the post under your heading I know you are an intelligent investor, which most everyone on this board is, some of us as myself do follow the advice of others, that's why I have got to ask if You invest in MLP`S?, if so would you share some of your best picks in your opinion, thanks in advance.

      Sentiment: Hold

      • 3 Replies to dividend_man
      • The truth is I have never invested in MLPs. Like so many things, I'm just not familiar with the companies enough. I do careful due diligence before I invest. Hence my long position in PSEC. And I've never done dd on an MLP.

        I have friends who have done very well with EPD this past year, but they are getting out because it's had a terrific run, the energy and is now yielding about 4.4 percent, and I've "heard" good things about KMP, though I've also heard performance has been lackluster. Both are energy sector, which I'm not keen on right now. But like I say, I've never invested in MLPs or done the dd necessary to invest.

        Are there a couple you think a long term (2-5 years) investor should look at?

      • dividend_man, just a word of caution. If you have never invested in MLPs do yourself a favor and investigate all the good/bad ramifications of owning them. Read a good book. There are many advantages in owning them, the best of which is the deferral of taxes on most of the distributions. The downside is that Uncle Sam will get those taxes back from you in the long run ---pay me now or pay me later, so to speak There are also the K-1s, which must be filed, although a good brokerage will do the paperwork for you.

      • I like BBEP and it sold down today, but it will have a dividend in 10 more days of 48.5cents and I expect it to go up, the fast DD is that it just bought out a large position in texas and oklahoma and will be earning a lot more in year to come and increasing dividend regularly it pays over 10% It should not be bought in an IRA I have over 20k shares but will unload half at 21 area. It is one of the top MLPs in a lot of opinions

    • bad timing. Sell now and look to renter under 11 when rates run back up. or hold long term and be happy with the great dividend.

    • Are you in for the long-term or just the run up into the monthly dividend? I guess some of us that have been in this stock for years, may have seen your comment and thought automatically that this is a long-term investment for you. Investing strategies have changed from the buy and hold mentally to more of a short-term trade mentality; therefore, my comment below may not be suitable for your purchase. Regardless, good luck!

      • 1 Reply to apdamic
      • I only invest LT. I'm not smart enough to time the market. I don't look at daily fluctuations in a stock price. This is a good long term investment. And I don't speculate to try and grab 20%+ yoy returns. I think that's a fool's game. But with a sustainable 11.5+ return and good management, I like my position. If it sinks to 10.50 ps, I won't be tossing ant turning at night. I'll just see you in 5 years.

        Thanks for the welcome (to all) and the well wishes.

    • This is a great stock to own, but I'm sure if you waited until after the dividend you could have acquired your shares at a much cheaper price. I certainly hope management is diluting my shares with plenty of ATMs at this $11.40 price range. Welcome to the board, but I'd be more patient when reinvesting your dividends.

    • I really have to ask the question why now and not two weeks ago when it was below $10.90? I own PSEC and am currently holding and collecting the dividend but will wait for better opportunities to add. Great stock, but entry point is important because over time it likely won't have much capital appreciation. That is just my opinion though. Just an FYI, insiders buy below book value- or in the $10.50 area. When it gets down there make sure you take advantage of the opportunity and add to your position. I know I will.

      • 4 Replies to wimuskyfisherman
      • Company insiders have shown us how to invest in this company, but the stock's price wouldn't fluctuate each month as it does if it weren't for people like this. This guy doesn't care if the stock hits $10.50, but that's where the long-time followers of this stock will start buying. I have a lot more skin in this stock than he does and receive nice monthly checks, so waiting for the proper price is not an issue. I'll take the patient route, it always pays off more in the long run!

      • When I want a new pair of shoes, and I see a good pair at a good price, I don't wait in hopes that maybe they'll be a percent less later. And I don't kick myself if they are discounted later. Good shoes last a long time, and five years after I've bought them, I don't worry that I might have gotten them for a few pennies less by buying later. Sometimes the price goes up, and you miss a good deal by waiting for a better one. And shoes don't have ex div dates.

        It's just not the way I invest, and I've done alright over the years by focusing on value rather than trying to time the market. My daytrading and market timing acquaintances? Not so much.

        Best of luck to all.

      • I agree with you 100% wimusky, this stock won't run away from you, you need to be patient or just in for the dividend, the first time I got in was in this area also but the next 5 times got successively lower and my lowest was 10.40 during the last 12 months, made money on all of them but I would not buy in this area except for a very short trade, better to sit on cash and wait for opportunity. you can make that 1% each month up easy enough with good entries. If you don't care about 20 or 30 cents as some posters state then you are bound to either rely on luck or plan on losing in this one. It is not like most stocks. Like an aapl that went from 80 to700 this will be range bound forever.

      • Every investor has his or her reasons for taking positions in stocks. Apparently, with an initial investment of $170,000 (+/-) , the $6,600 is just chump change for komboloi59. He did his DD and apparently did not hold the fact that PSEC insiders buy below BV, nor do I. If I want to own a company on my due diligence results I don't let a quarter or a half dollar stop me from buying. I'm in at $11.16 for 3k shares and I passed buying at under $11.00 10 days ago. The few pennies didn't mean that much to me either. I wanted to see the results of the negotiations before pulling the trigger.

    • Smart! and good idea to start with a small position like you did.
      Good luck and great dividend.

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