Recent

% | $
Quotes you view appear here for quick access.

Prospect Capital Corporation Message Board

jmkdog 89 posts  |  Last Activity: May 21, 2015 5:52 PM Member since: May 29, 2001
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    Buy this NOW

    by budmasterbud May 21, 2015 1:02 PM
    jmkdog jmkdog May 21, 2015 5:52 PM Flag

    not really, market is unsure, just like you. When it knows , so will you

    Sentiment: Strong Buy

  • Reply to

    Compare Two Year Chart

    by avebb90 May 20, 2015 1:37 PM
    jmkdog jmkdog May 21, 2015 3:24 PM Flag

    There are more , the sector is trading at the lowest multiples EVER. Historic is 1 to 1, more time above book than below. One thing is certain buying the discount provides a great opportunity to capture returns on the yield and capital appreciation

    Sentiment: Strong Buy

  • Such a great presentation by the panelists , really enjoyed the answers to my questions.

    And this did make me interested in some smaller BDC's and reignite the value argument for the 2nd largest BDC.

    Some very important points for Prospect shareholders.

    1. Going to a 2-1 leverage rule as proposed will bring allot of money back into the space. This could pass by years end, the stock will trade much higher if passed.

    2. Of the three spin-offs , two are structured as EMERGING GROWTH, which will be advantageous to shareholders

    3.Dividend coverage much improved( due to lowered dividend) but also less fee and perhaps a FEE CUT and or Share buyback.

    4. The discounts to book in the space are not supported and cannot last "forever" . This is particular to Prospect as the discount is very big.

    5. Money will flow in as rates rise and the froth comes off the S and P.

    6. During the last rate rise cycle nearly all BDC's raised dividends.

    7. Manager alignment with shareholders is very important to institutional buyers and the number one factor for many when choosing where to invest in the space. Everyone agrees, the opportunity is now.

    Sentiment: Strong Buy

  • Recent Developments:

    On May 13, 2015, we made an investment of $44.6 million to purchase 81.48% of the subordinated notes in Mountain View CLO IX Ltd. in a co-investment transaction with Priority Income Fund, Inc., a closed-end fund managed by an affiliate of Prospect Capital Management L.P.

    On May 15, 2015, we redeemed $100.0 million aggregate principal amount of our 6.95% unsecured notes. We recognized approximately $2.6 million of realized loss as a result of the call.

  • Reply to

    Rangers Lead the Way

    by jimcooper28 May 14, 2015 2:41 PM
    jmkdog jmkdog May 14, 2015 5:41 PM Flag

    Mr. Cooper, you are talking out of both sides of your mouth:

    "People reading your previous post may get the INCORRECT idea that PYLD has already acquired the CLO assets. You (and many other posters) should be careful about the data and information you post, because once an item of wrong data/information gets started, it takes a life of its own and gets spread all over the internet as the gospel truth." jimcooper28

    "CONCLUSION: ALL – let me repeat that – ALL of the CLO assets were transferred from PSEC to its PYLD subsidiary" jimcooper28

    Sentiment: Strong Buy

  • Reply to

    Thread from Barry to Slick

    by jimcooper28 May 10, 2015 4:36 PM
    jmkdog jmkdog May 11, 2015 3:55 PM Flag

    I took the information directly from the SEC filed 10 Q.

    So lets see:

    1.You do agree then that the IIF is down from Q2 2015 to Q3 2015?
    2. You do agree that BMF is up Q2 2015 to Q3 2015?

    I agree with you as does most everyone that at the current discount to book, the fees are too HIGH.

    I also agree with you that people use what ever data available to support a thesis.

    I know exactly why you are angry, we share that. I too believe the dividend at 11 was sustainable at least through fiscal 15.

    Lets move on and see what we can accomplish to get management to LOWER the base fee. This Advisory Agreement expires in 30 days, perhaps the BOD will recommend LOWER FEES.

    Sentiment: Strong Buy

  • Reply to

    Portfolio GREEN LOL

    by covadlegal May 11, 2015 3:37 PM
    jmkdog jmkdog May 11, 2015 3:45 PM Flag

    haha he did, poor fellow. Oh well looks like he is doing alright, today!

    Sentiment: Strong Buy

  • Reply to

    PSEC benefits from overvaluing assets sold to PLYD

    by rel4490 May 11, 2015 2:44 PM
    jmkdog jmkdog May 11, 2015 2:51 PM Flag

    The cash you get for YOUR RIGHTS will be based on the valuation at the time the N-2 is ruled effective.
    If the CLO is undervalued your rights will be discounted form that. Since we HAVE NO CLUE what the value will be at the time of the spin your post is pure FUD

    Sentiment: Strong Buy

  • Reply to

    psec and their big rally.....

    by s.eranger May 11, 2015 2:23 PM
    jmkdog jmkdog May 11, 2015 2:29 PM Flag

    30 million shorties care, are you one of em?

    Sentiment: Strong Buy

  • Reply to

    Stared a position on ACAS

    by thewisejman May 11, 2015 12:55 PM
    jmkdog jmkdog May 11, 2015 2:22 PM Flag

    I agree with you here. I think I will bite too. small

    Sentiment: Strong Buy

  • Reply to

    Interesting challenge in the PSEC MB

    by thewisejman May 9, 2015 11:54 PM
    jmkdog jmkdog May 11, 2015 2:21 PM Flag

    ACAS does not pay a dividend, it is at .75 just like psec and fsc. Toss up

  • Reply to

    Thread from Barry to Slick

    by jimcooper28 May 10, 2015 4:36 PM
    jmkdog jmkdog May 11, 2015 2:18 PM Flag

    Your not reading the MB, I have on 3 different threads. Here it is for you

    "The total income incentive fee incurred was $21,860 and $24,631 for the three months ended March 31, 2015 and March 31, 2014, respectively. The fees incurred for the nine months ended March 31, 2015 and March 31, 2014 were $68,307 and $68,269, respectively. No capital gains incentive fee was incurred for the three or nine months ended March 31, 2015 and March 31, 2014"
    See notes 1

    "For the nine months ended March 31, 2015 and March 31, 2014, we incurred $68,307 and $68,269 of income incentive fees, respectively ($0.19 and $0.24 per weighted average share, respectively). Income income fees remained stable year-over-year on a dollars basis, but the per share decrease was driven by a corresponding decrease in pre-incentive fee net investment income from $1.19 per weighted average share for the nine months ended March 31, 2014 to $0.97 per weighted average share for the nine months ended March 31, 2015, primarily due to a decrease in dividend and other income".
    See notes 2

    From the 10 Q page 70 and page 145.

    The first shows the DECREASE(my emphasis)from 24,631to 21,860 in INCOME INCENTIVE FEES which is one component of the TIAF.

    The 10 q goes on to explore the fees comparing NINE MONTHS ending March 15 and March 14. DROPPING , wait for it, wait for it , .05 cents PER WEIGHTED AVERAGE SHARE(my emphasis) . In plain English ,
    the income incentive fees have come down to 19 cents per share from 24 cents per share.

    There is no possible way to argue: Income Incentive fees rose or John Barry is lying.

    This is not management being nice, it is a simple translation of the performance in the Q. We made less, no shares issued, so base fees were FLAT and NII was slightly down so incentive fees dropped.

    If Jimmy was right, and he is not , there are plenty of folks watching.

    Sentiment: Strong Buy

  • Reply to

    sell off? Bring it on

    by michaelmcmx May 4, 2015 10:17 PM
    jmkdog jmkdog May 11, 2015 12:04 PM Flag

    CONGRATULATIONS!

  • Reply to

    ATTN: Please Management, Employees of Prospect

    by covadlegal May 11, 2015 10:52 AM
    jmkdog jmkdog May 11, 2015 11:23 AM Flag

    They are too close leverage wise to buy back significant shares. 79% according to the last 10Q.
    Maybe you should let you "mommy" run your money as a share buyback is far less likely than a large insider purchase.

    Sentiment: Strong Buy

  • Reply to

    Thread from Barry to Slick

    by jimcooper28 May 10, 2015 4:36 PM
    jmkdog jmkdog May 11, 2015 11:20 AM Flag

    Jim is proving with his calculations that he is lacking in comprehension and interpretation of his findings. The SEC filed documents are prepared by a TEAM of accountants and lawyers likely a tad more experienced than James.

    The numbers which you yourself can look at show exactly what was reported.

    1. A decline in income incentive fees
    2. A stable base management fee

    He is cutting and pasting the 10q as it fits his agenda, calling a factual sec filed presentation "a lie". A lie by one man John Barry. I doubt Mr. Barry does any of the heavy lifting required to prepare the K's and Q's.

    Sentiment: Strong Buy

  • Reply to

    See you all there

    by budmasterbud May 7, 2015 10:16 AM
    jmkdog jmkdog May 7, 2015 11:54 AM Flag

    Not really, pretty short, and absent was John Bock? Not a lot of questions and fairly short call. Business is in good shape moving forward but perhaps we need Jimmy Fallon to do the call

  • Reply to

    See you all there

    by budmasterbud May 7, 2015 10:16 AM
    jmkdog jmkdog May 7, 2015 11:01 AM Flag

    Started right on TIME wow, *1 to answer question, JIm cooper

    Sentiment: Strong Buy

  • Reply to

    See you all there

    by budmasterbud May 7, 2015 10:16 AM
    jmkdog jmkdog May 7, 2015 10:54 AM Flag

    Pretty good music, haha. I am in will type any earth shattering stuff

    Sentiment: Strong Buy

  • Reply to

    PR Lied about Changes in Management Fees

    by jimcooper28 May 7, 2015 10:07 AM
    jmkdog jmkdog May 7, 2015 10:53 AM Flag

    Jim what is "MISTREPRESENTED", perhaps rather than schooling members about math you should look at the way you are presenting your story. Fees are LOWER q over q, lets not do the John Bock

    Sentiment: Strong Buy

  • Reply to

    Seriously?

    by kylekneale May 6, 2015 4:49 PM
    jmkdog jmkdog May 6, 2015 10:28 PM Flag

    You will be taxed on the value of the rights. They will trade as PYLDR , you can sell em or buy more. If you do nothing you just pay tax on the value of the "right" established by the BOD.

    Sentiment: Strong Buy

PSEC
8.01-0.07(-0.93%)12:04 PMEDT