I have been aggressively accumulating FSC. Today, they confirmed their high yield monthly paid dividend is extended for another three months. I am not the least bit surprised. I continue adding more shares. LONG FSC!
Buffet bought COP at the wrong time and now he has been buying PSX at the wrong time. He can't seem to get the petroleum cycles. I would not be surprised to see him beginn selling part of his holdings.
wimuskyfisherman: You and me both. I am LONG 100,000+ shares of PSEC. Been buying and reinvesting the dividends for some time. Best place I know for high yield monthly paid dividend. PSEC is a long term hold for me. As for FSC, I recently opened a 7,000 share position. That is about the way I opened PSEC in the beginning. I like what I see there too. Buy when you can't stand the languishing anymore.
I repeat this often. Unless you fully understand HOW the crude oil price cycle works stay out of petroleum company investments. IF you believe we are going higher on the price of crude soon, then you should NOT be buying downstream stocks. Look to the pure E&Ps and service companies. PSX will be fine in the long run.
Long term he will be fine. Ignoring the crude price cycle however, can catch one buying in at too high a price. Coming higher crude prices mean lower crack spreads and declining downstream profit.