You guys can debate how many accountants can stand on the head of a pin if you like... I'll just keep buying as much PSEC as I can while the price is stupid cheap and the shorts are arranging for us all to have the opportunity to scoop up some free sub-NAV money... will also buy BIZD because as much fun as this has been for shorts and as much as its been all the rage to bang these companies down? it'll be the same opportunists who will not be able to get enough of them within a few days or weeks.
The notion that SEC is first going to get them kicked out of all the index/etf related funds and then pile on with ruinous regulation and enforcement is just a lot of bull... you have to believe that the SEC is in the business of making it hard for middle market companies to function and trying to reduce that part of the economy to third world status, it all strikes me as extremely implausible.
I accept at face value management's assertion that 2/3's of the 3rd qtr deals closed too late to add to earnings and that they will add in future quarters.
The PSEC chart looks exactly like they all do before they "miraculously" recover... if you bought good companies when they look like this? you'd be right 95% of the time and the 5% you'd be wrong? wouldn't matter, you'd be enjoying life on your yacht too much to care.
"The notion that SEC is first going to get them kicked out of all the index/etf related funds and then pile on with ruinous regulation and enforcement is just a lot of bull."
Actually this is a fact. It is happening.
Me too, it is very apparent that the websites is full of individuals hoping to purchase under $10. They may wake up one morning to a missed opportunity. I bought another 15k shares at $10.15 and left some dry powder if we do march down to $9.
I even put a rather large order in which would cause me to liquidate my Jumbo CD if we have a whip-saw event down to $6.50. I rather get an extra 25k shares and earn more than my current 4.65% CD interest rate. I'm sure the bank would be more than happy to have me liquidate and not have to pay me for the interest rate I was lucky enough to secure for 7-years.