In case you havn't noticed MDLY is down 0.65 today. Those in the know know the dividend might not be stable
I thought you already have bought MDLY
Now what are you going to do if they don't have the .20 dividend since you were wrong on MCC you might also be wrong on MDLY
budwasgreat is painting a bleak picture for MCC putting it in the same class as PSEC. Did you read what he said? Now I am waiting to see if and when they declare dividend for MDLY.
pac, in case you havn't noticed MDLY is down 45c today. I bought more at 5.67
so that is the action they took to lesson the blow on the stock and pacman didnt see that coming at all.
Pacman Im surprised that you missed that.
When the x date comes the stock will be reduced 30c from what the closing price was the prior day so with the stock continuing do decline they can buy back even more shares at a cheaper price. They now have 2.5 million between 5 and 6 they could easily buy back 5 million shares. These are the very same shares they they sold at 12 to 13 to get 300m capital to invest?
investing in MCC so far has been a nightmare. almost two years ago in March of 2014 the stock was selling at ~$15.5 and I now around 6. a 9 dollar drop. Like a lot of investors I keep thinking they are smart managers and will get their act together sooner or later so far they never have. Each Q they keep making excuses like it's ok to make mistakes when we are using your money. Pacman even you can do better underwriting then they do and they get paid big bucks for that.
I thought The Taube brothers were expert underwriters well educated but they have demonstrated so far like they are amateurs.
looks like our management company taking a nosedive just like MCC
the biggest loser being ESSEX. It would seem like they are a little careless in picking the right companies on their underwriting. The analysts asked questions about 1st lien loans to get some clarity. The best question is why they charged high fees in the 4th Q when they knew the quality of loans were deteriorating so the investors could benefit. Brooke did not give a very good answer to that question.
listening to the CC and I love one of the questions of the analysts who ask Brooke if they were taking notice of the way they underwrite their loans considering the erosion of the stock and the discount to NAV. In other words you guys need to do a better job of underwriting to have less non'accurals.
you mean like buying it back at 2 dollars a share? Looks like MCC is headed down just like PSEC
I mean you got the same guys managing both companies. So why do you trust them with MDLY when they have screwed up with MCC.? MCC does well the make more money so it is in their best interest that MCC does well just like MDLY. MDLY now will be higher than MCC.