Other BDC have been hit harder than PSEC. This market looks weak lately. August and September are usually bad and if your time horizon want allow you to hold a few months I would sell tomorrow or early next week. I only hold a few shares and have been waiting for $7 to buy. Who knows that whacky Sierra might get his $6.50. Then we would listen to the bash tard brag:(
I traded UWTI for pennies and fractions with free trades that expire end of July but was afraid to buy a oil short at these levels .
I bought SH and SJB (per clroderick) and dumped BDCL thinking of buying back when a bottom sets in. Also cut PNNT and CHK for losses. Please see clroderick a SJB string it looks good unless "The Janet" gooses the market.
I bought some Jan 2016 SBJ Calls which will allow me to buy shares at $27.80 if i choose. Also picked up loose shares at $27.51. Now watch "The Janet" screw this thing up:)
I,m not a bondie but I took at shot in Dec2014 when I was more Bullish than now. I have read in WSJ some hedge Funds are specializing in buying distressed oil bonds of companies with assets that will increase in value whenever oil recovers.
Opie the world knows that you are a true genius. You are sitting on a little sand spit are are the emperor of the LINE MB. I really think you are being too modest by understating your true depth of investment knowledge. Thank you for sharing with us a glimpse into your thoughts. Most humbly and sincerely , Phil
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.