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American Capital Agency Corp. Message Board

quadruplemalt 5 posts  |  Last Activity: Jul 11, 2014 6:10 PM Member since: May 7, 2000
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  • Reply to


    by milo70kid Jul 8, 2014 6:32 AM
    quadruplemalt quadruplemalt Jul 11, 2014 6:10 PM Flag

    FSC's share price is about what it was five years ago. MAIN's share price is up 120%+.

    There is a slight difference in dividend yield but generally special dividends are not utilized in the yield calculation so MAIN's dividend is typically under represented.

    Different kinds of animals but MAIN has clearly outperformed FSC.


  • quadruplemalt by quadruplemalt May 13, 2014 8:31 PM Flag

    Seriously, it's seems likely to me that recent PSEC price action is investing hypoxia induced by neurotic anxiety over the Russel and SCC stuff.
    There's no where near as much excitement going on at the company as the price action might suggest - it's just plugging along.
    With low leverage, positive interest rate sensitivity, and low p/b - etc. etc.- it just doesn't make sense to freak out over these short term issues. Russel selling is ephemeral and the SCC restate isn't likely to be adverse if it's necessary....
    So I have a big slug of shares and while I"m not excited to see them down 15% it isn't the first time a short term "problem" slammed shares illogically.
    I've added to my already substantial position - if I'm wrong in my equanimity I'll lose a little more, but it's fun to take advantage of our own flash crash.


  • Reply to

    MAIN Secondaries

    by rc5717 Apr 9, 2014 6:51 PM
    quadruplemalt quadruplemalt Apr 16, 2014 6:56 PM Flag

    Certainly your attempt to persuade me of the logic of your comments was in vain.

    "...dilution typically causes share prices to drop as it did when MAIN announced SO. "

    MAIN did announce a secondary, the share price did drop, but there was no dilution involved.

    The inanity of complaining about BDC's or Reits's doing secondaries is self-evident.


  • Reply to

    MAIN Secondaries

    by rc5717 Apr 9, 2014 6:51 PM
    quadruplemalt quadruplemalt Apr 15, 2014 6:54 PM Flag

    Hard to tell what you're ranting about, but if a SPO occurs at a premium to book value then the original shareholders are not diluted in terms of book value.

    In terms of earnings it's unknowable at the time of the SPO, but presumably management isn't issuing shares to reduce earnings per share.

    It terms of the manic market reaction to SPO it could be up or down, but share price variation for any reason is not dilution.

    It's not that complicated.


  • Reply to

    WHY is Hercules so volitile?

    by dhermangub Mar 17, 2014 11:02 AM
    quadruplemalt quadruplemalt Apr 15, 2014 6:50 PM Flag

    According to Yahoo Hercules' beta is .95, which doesn't suggest market variant volatility.


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