from what you are saying the stock has gone down so far that even with the stupid mistakes PENN made on energy investing investors buying in at the cheap price will come out ahead long term.
His fund? You mean the PNNT fund or our fund? Now this is old news that was disclosed in last Q conference call so why is this all of a sudden a surprise?
sorry stan, trying to understand what you are saying. You said "of the 11 firms that have been on non-accrual since the firm began" since what firm began? Are you taking about Gulf resources that 80% of the capital has been recovered? If 53c a share enough to protect the dividend?
he personally says he owns 131k of FSC at 5. Article on Seeking Alpha. So far he is guessing right?
He is not on MDLY board but on Seeking Alpha . Says he owns 1.6 million shares of FSC at around 5
anyone can look at the chart at see the price declining big time and some of the companies hedged but investing in oil drillers at a time the Saudis and OPEC are overproducing is crazy. Art is not as smart as I thought he was. I have called the IR, Aviv several times and he acted like there really was not a big problem with their energy investments. Now if they took that 20% and shorted we would all be getting 50c dividends instead of whatever when they next declare. Investing in BDC's had not been a good experience for me unless you buy at the bottom.
PNNT started declining on Sept of 2014 from a price of 11.5 and now it is 6.23. Art Penn is supposed to be a very intelligent investor but what made him go against his promise and invest 20% of PNNT into energy loans with a soft oil market. If anything he should have shorted not gone long. Looks like from what you are saying Art Penn not only breaks his promises but makes stupid loans and we the investors are paying for it dearly with a probability of less dividends and stock decline. When you break promises you lose the trust of the stockholders.
I don't know about this Pacman guy but all I do know is that I made lots of money on his MDLY call and I wish I would have listed to him on FSC and PSEC which he was also right on. I can see that one needs to use their judgment on his calls as he keeps changing but at least he was worth listening to. As for MCC, I have held stock for 2 years now ever since it was 13 and not it is 6.8. Not buying anymore just trying to get even. As for trolls or whatever you call anyone who disagrees with you, I don't know if you consider one who owns thousands of shares of MCC a troll but anyone no matter what you say I am losing because the NAV keeps going down, not up but DOWN. Now if you want me to list all my trades on this stock I will not do because I don't know you or do I care to know you. You have no effect whatsoever on my life.
Gold and silver are going up up up so if you need to earn lots more worthless dollars just to get even.
1300/oz on gold and 18 now on silver. Do you have a buy on the precious metals.,ninja? You talk like a loser. I don't see you making any good recommendations just criticizing.
It's always been maybe.
So far nothing has changed. For some reason I got blindsided when this stock last spiked up to 7 and I got out but then got back in too soon thinking that It was still a good one. But so far there has been a turnaround of PHD's and that caused the companies shares to drop to what it is today.
Over the last year, Fifth Street Finance's operating income declined by roughly $0.05 per share, while credit performance has deteriorated. Book value fell by $0.77 per share from the year-ago period, more than erasing $0.69 in dividends paid to its shareholders during 2015.
Take note that Fifth Street Finance is currently the subject of several lawsuits, the details of which are discussed on page 73 and 74 of its most-recent quarterly report. While many believe that the company's external manager should foot the bill for the associated legal expenses, the costs are currently being borne by Fifth Street Finance shareholders. The company's "professional fees" line item grew to nearly $7 million this quarter, up from $1.2 million in the year-ago period.
rly, the company's $100 million stock repurchase program approved in November remains dormant, despite the fact shares trade at a substantial discount to book value. The company only repurchased shares in sufficient quantity to paper over issuance through its dividend reinvestment program in the fourth quarter. The company says it intends to use its authorization in the quarter-ended March 2016, but to what extent is unknown.
Shareholder discontent is justified. While the market will tolerate periods of underperformance resulting from credit issues, it's becoming increasingly clear that the interests of the management team come before the interests of its investors.
50 million shares outstanding around 4 = 200million in assets They would have to have an awful lot of delinquencies to get that low.