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Prospect Capital Corporation Message Board

clrodrick 453 posts  |  Last Activity: 1 hour 42 minutes ago Member since: Dec 2, 2005
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  • Someone on a different forum clued me into the fact that RSO did another securitization lately. I had sold my shares last year since it seemed at the time that RSO was not going to have the AFFO to support the dividend. Now though they may have turned the corner. Still bears watching, but yielding 13+% right now, and are forecasting quarterly AFFO in the $0.26 to $0.27 range for Q3 and Q4. If (and it is a big if given Jonathon Cohen's history of over promising and under delivering) they meet that guidance, the current $0.80/year dividend looks quite safe and could even start growing again. As it is, yielding almost 14% is not bad. The risk/reward on this seems fairly good to me.

  • clrodrick clrodrick 1 hour 51 minutes ago Flag

    I like LNCO as well, have been holding it over a year now I think since the Hedgeye analyst attack drove the price of LINE/LNCO down so much. One thing to consider with LNCO though is that at some point it's distribution will lag LINE's a bit due to tax issues. That probably won't be an issue for another year or two though.

  • Reply to

    Bought GM

    by frigator 8 hours ago
    clrodrick clrodrick 1 hour 55 minutes ago Flag

    GILD is golden. I don't understand why it isn't over $100 on all the news. I'm overweight it also.

    Regarding GM, are you worried at all about the bubble in subprime auto loans right now? I think one reason GM and Ford have such great sales numbers this year is how relaxed credit has gotten, plus it is now industry standard to issue loans with 72, 84, even 96 month terms. I find that crazy, but they are doing what it takes (for now) to get people in cars. I could be very wrong, but I don't see 2015 being as rosy as analysts. You seem to have your finger on the pulse of these cyclical stocks much better than I do however frigator. I admit, when it comes to planes, trains, and automobiles, it is out of my bailiwick.

  • Reply to

    OXLC is a buy

    by thewisejman 6 hours ago
    clrodrick clrodrick 2 hours 2 minutes ago Flag

    I need to read up more on this one. There was an interesting S.A. blog about OXLC and the kind of unique BDC it was.

  • Reply to

    Just want to say THANKS!

    by thess3120 8 hours ago
    clrodrick clrodrick 2 hours 4 minutes ago Flag

    Some don't like how many non FSC focused threads there are, but I feel the opposite. Like you, I gain a lot of insight from learning about varied income investments out there and the appropriate price points to target. I've definitely gained some good ideas. One of them is AI which just reported good earning today and whose dividends are all classified as qualified. That one is a keeper in my taxable account.

    I haven't seen sonnenwayne around here lately. It's a shame, as he always had interesting insight into investments.

  • Reply to

    TCPC SPO

    by clrodrick Jul 28, 2014 6:29 PM
    clrodrick clrodrick 2 hours 11 minutes ago Flag

    I agree, they regularly deliver on earnings. Book value keeps raising. Definitely a BDC worth owning. I bought more today right at market open at $17.20

  • Reply to

    NRZ

    by thewisejman 9 hours ago
    clrodrick clrodrick 2 hours 14 minutes ago Flag

    When did NRZ ever yield 13%? If you look at the trading pattern with NRZ since the spin-off from NCT, every time it trends towards $6, it bounces back towards $6.5

  • Reply to

    WOW!!!!

    by asstsecretary 2 hours 33 minutes ago
    clrodrick clrodrick 2 hours 18 minutes ago Flag

    nice! wonder why the after hours trading is so blah about the earnings?

  • clrodrick clrodrick 2 hours 36 minutes ago Flag

    Any particular reason why you think that? Or are you just throwing it out there. I can point to an opposite example of a spread decreasing (EEQ/EEP). Bottom line is every situation is different, and nobody can predict the future.

  • Reply to

    gonna dive after tomorrow

    by abcrny 8 hours ago
    clrodrick clrodrick 2 hours 39 minutes ago Flag

    They would not have raised the current distribution by 10% unless they were confident that the future distributable cash flow could handle it. I don't think earnings will suck. However, I think PSXP was priced to beyond perfection at $79, and now today at $64 they are priced a bit below perfection. Still pricey, but given the bright future of PSX and the potential drop downs in store, I could understand why many would buy PSXP today.

  • Reply to

    Short interest

    by jbcguy Jul 28, 2014 10:29 AM
    clrodrick clrodrick 2 hours 43 minutes ago Flag

    I think the entire Cohen family has that same problem, and the investments they run suffer for it by trading below fair value.

  • Reply to

    First red day since July 17?

    by coochy.cooty 4 hours ago
    clrodrick clrodrick 2 hours 45 minutes ago Flag

    Also noticed the GP was down today after making quite the surge towards $50. Wish I had bought some when it was tanking at $40 in retrospect. Pays out a nice yield for a GP.

  • Reply to

    14Q2 Earnings & Guidance

    by alexalekhine 9 hours ago
    clrodrick clrodrick 2 hours 55 minutes ago Flag

    Man this REIT was cheap at $11.80. Shame they had to dilute at $12, but it is best to look at the future of ARCP instead of dwelling on the past.

  • Reply to

    NOT doing anything is the BEST trade

    by thewisejman Jul 28, 2014 4:12 PM
    clrodrick clrodrick Jul 28, 2014 6:34 PM Flag

    I'm not sure anyone would want to hold a leveraged ETF like TWM for more than a few days at a time. The decay due to the leverage makes it a losing proposition.

  • clrodrick by clrodrick Jul 28, 2014 6:29 PM Flag

    Anybody who wanted to get into one of the better BDCs has an opportunity tomorrow. TCPC just announced a share offering and after hours price is down to $17.25. I plan on getting some tomorrow.

  • Reply to

    S.A. bites it!

    by coochy.cooty Jul 27, 2014 4:23 PM
    clrodrick clrodrick Jul 28, 2014 5:38 PM Flag

    S.A. is like motley fool in my opinion. Some good analysts/bloggers mixed in with a bunch of chaff. It's up to the reader to figure out which is which. I get daily emails from S.A. for new articles from bloggers I flag as favorites. They have consistently come through with good info time after time. I find factoids an interesting read in the MLP space. Brad Thomas decent in the REIT space. Brett Jensen good in the 'finding value' space. Like most every other corner of the interweb, it is what one makes of it. Same with yahoo. A bunch of idiots posting to mask a handful of very solid yahoo contributors that make it worth a daily visit for me.

  • Reply to

    Here's an ugly thought

    by coochy.cooty Jul 27, 2014 7:51 PM
    clrodrick clrodrick Jul 28, 2014 5:33 PM Flag

    Don't give those crooks at Hedgeye any good ideas coochy. I can just picture Keiser with his pinky pointing to his lip and Mr. Bigglesworth draped over his shoulder saying, "yes...yes....that is exactly the next evil plan I will launch on the unsuspecting retail holders. I will short without mercy and demand 1 *billion* dollars to stop the hijacking of the QRE deal."

  • Dropping from $66 down to $63, then back up to $66 near the end. Opened my eyes a bit. Still would like to get back in but hoping for under $60. Future looks bright for both PSX and PSXP.

  • Reply to

    Second Quarter Results

    by rofflecopters Jul 28, 2014 9:50 AM
    clrodrick clrodrick Jul 28, 2014 5:18 PM Flag

    Is it possible to laugh and cry at the same time? I bailed out in the $4 range and glad I did. I'm hurting enough as it is with my shares in NNA. Ugh.

  • Reply to

    Latest Gibson's Weekly Tanker Report

    by lakers_fan919 Jul 27, 2014 11:47 PM
    clrodrick clrodrick Jul 28, 2014 5:16 PM Flag

    I hope you're right. Price action in NNA has been depressing lately.

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