I understood the part about "Future Equity" but I reiterate they can't do a Secondary Stock Offering with PPS below BV. It shows the management recognizes the problem and is starting to address it. There are better BDC of course buy like MAIN there PPS is at a big Premium to BV. I think All BDC and especially the downtrodden like FSC is in for a good run.
Shorting junk bonds looks like a sure thing. I,m currently underwater with a short on commercial REIT ,it seemed like a sure thing also:)
You two trolls invest as you wish, I don't care what you do or how you do it. Junk bonds might well go lower with Fed action and are not as liquid as stock and have less upside on recovery. I,m holding oil at 25% of Portfolio and must sell something in order to add more oil.
Bob, for the record I figured up PSEC real return from day one . From day one about 11 years ago the Dividends were twice the Capital loss for annual return of 5% gain. Not great but not terrible . Those that resents bought near $11 are the losers. Past results does not guarantee future results. At these levels I think PSEC is worth a small long position, at least until PPS catches up with Book Value. I added a little today but staying small waiting for a low price.
Bonds move with investor emotions just as stocks do. I bought Linn Bonds on 12/16/2015 for low $70ish and sold in Jan 2016 for low$90. This is when i Bond investor buys bonds.
Dmarieb first post with a Yahoo acct set up in 2007? The picture you paint does not reflect reality. The Divy is easily covered and the company can't sell stock at a Discounted Book Value. Agree with you on a lack of admiration for the management.
Sierra caitlan, when a player goes to bat and get a base hit and then goes into wild celebration it indicates he gets very few hits in life. I thing the discount to BV shows the investment communities opinion on Fair Value of PSEC. MAIN on the other hand carries a hefty Premium to BV that I can't justify.
WSJ this morning "Tide a Turns On Greek Shipping Industry" Greek shipping has been long shielded from taxes but as Athlens Persues a EU bailout shipping is now getting the tax mans attention. Might have a effect on some holdings.
Looks like WTI might open at a new low in the Morning. I traded twice today for pennies and went to bed empty not wanting to hold shares overnight.
A life filled with hate is a wasted life. Management has done a good job for the stock trader and the long term holder has done fair but not great. Those that jumped in late when it was on top faired poorly. The future at this level is brighter at least for awhile . Margin calls might give a few good buys tomorrow.
Sierra caitlan, You may not be aware that PPS will move to wherever it's going without making a fool of yourself . Perhaps you are infested with a brain eating worm and can't help yourself.
Margin Calls ruled the market today. Filled a low ball FSC order on the open , perhaps more tomorrow.
Started a very small position of PSEC at 7.39 with another free trade. I need that 8 1/3 cents to cover my oil losses :) Looking for $7 shares on the open in the morning.
Eranger while I believe the only positive comments of yours I have read on any stock was on PAA a year or two ago you don't try to rub it in so please accept my apology. Opie is a trouble man with unresolved issues. To "rub it in" in bad times and brag shows no class what so ever.
Much has changed. With the sanctions lifted they can fire up there economy and earn money to cause more war throughout the world. The US Congress was run around by Obama again, they cant stop the sanction from being lifted but they can not ratify the treaty with bipartition support.