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Euroseas, Ltd. Message Board

icon0 2 posts  |  Last Activity: Aug 11, 2014 11:04 AM Member since: Aug 8, 2014
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  • Reply to

    Whats this baby going to do tomorrow?

    by chinookcook2000 Aug 6, 2014 11:08 AM
    icon0 icon0 Aug 11, 2014 11:04 AM Flag

    Sure,
    HTGC benefits at origination, underwriting and disposition of assets because they invented the venture debt model. HTGC has an awesome pipeline of deals that flow to them for evaluation. HTGC has the professionals to evaluate the intellectual property that underlies a start up company in each of their three main lines. Finally HTGC portfolio companies are routinely exiting from their venture debt space. In short hercules has brand identity, pricing power and the ability to coordinate dispositions. In my mind this is quite different from collecting spread on CLO or CDOs. This also makes it difficult for new entities to jump into the Venture debt space.

  • Reply to

    Whats this baby going to do tomorrow?

    by chinookcook2000 Aug 6, 2014 11:08 AM
    icon0 icon0 Aug 8, 2014 1:22 PM Flag

    Even though guidance is lowered based on some one time hits, I actually am optimistic about Q3. In the Q1 call, Mgmt stated they will deploy the balance sheet this year with the first hints of that coming into income in Q3. Those originations occurred in Q2. The 576M of signed term sheets as of aug 7 is extremely high and reflects execution on those comments. I think the sell off is overdone.

    HTGC is one of the few BDC's with a moat. They also actually make investments that help grow the economy creating new businesses and tapping into new markets. MGMT is refreshingly honest and deliberate. They can easily overcome the announced negatives with excellent execution growing the portfolio.

ESEA
1.140.00(0.00%)Aug 29 3:55 PMEDT

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