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American Capital Agency Corp. Message Board

ray858945 40 posts  |  Last Activity: 16 hours ago Member since: Sep 17, 2012
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  • Reply to

    what the heck,,,,,,,,,,,

    by dklar2525 Oct 17, 2014 11:28 AM
    ray858945 ray858945 Oct 17, 2014 11:40 AM Flag

    Dklar ...

    Look at the insider buys over the past couple of months, and the price they were willing to pay. Personally, I consider it a buy - even today - and would if I wasn't already holding 85,000 shares. Still a good environment for BDC's.

    Sentiment: Strong Buy

  • Reply to

    my 5000 shares at $11

    by b0n312 Dec 8, 2014 4:58 PM
    ray858945 ray858945 Dec 8, 2014 5:21 PM Flag

    PSEC has been at this price twice before in the last 5 years. It always recovered to around $12.

  • ray858945 by ray858945 Nov 11, 2014 7:54 PM Flag

    As a U of Mich alumnus, I have to mention Austin Hatch, a freshman on the Mich basketball team.

    In 2003, he was in a small plane crash in which his mother and both siblings were killed. Then, in 2011, he was in another small plane crash [both piloted by his father] in which his father and step-mother were killed. Twice he survived crashes in which everyone else died. He suffered severe injuries the second time, and Michigan could have pulled a promised basketball scholarship ... but they didn't. Last night, he scored his first point in a Mich uniform, and the house came down as everyone knew his story. He hugged his coach like he was his father, and his teammates like they were brothers.

  • Reply to

    AFFO vs GAAP earnings

    by callitht Nov 6, 2014 7:29 AM
    ray858945 ray858945 Nov 6, 2014 10:22 AM Flag

    AFFO. GAAP includes things like unrealized gains and losses on assets [mark-to-market] which may never be realized. AFFO is much closer to cash basis which is the money available for divies.

  • ray858945 by ray858945 Nov 3, 2014 9:09 PM Flag

    "Through October 31, 2014, we have originated commitments of CRE loans totaling $641.7 million."

    That means about $166M was added in October, or more than 3 times the rate of the first 9 months. The divy looks pretty safe to me.

  • Reply to

    5 Billion of new securities

    by slicktop4 Oct 14, 2014 9:27 AM
    ray858945 ray858945 Oct 14, 2014 11:10 AM Flag

    I think a lot of people - including pro's - think like Cramer: high yield = high risk. Their analysis pretty much stops there.

    We had a huge sell-off in 2011; Dow was down 3,000 pts. Yet, everything recovered, and sellers were punished. One thing I like about BDC's: they invest in U.S. companies so exposure to Europe is minimal.

    Hang in there ... market is up almost 100 right now, and high yield will be coming back soon.

  • Reply to

    Scary news. Real scary actually.

    by lenloc Oct 7, 2014 5:49 PM
    ray858945 ray858945 Oct 8, 2014 3:35 PM Flag

    The last time we had a Repub Prez, we had the biggest stock market crash since 1929. The last time we had a Clinton, we had several years of surpluses.

  • Reply to

    Management Fees

    by ray858945 Nov 21, 2014 3:52 PM
    ray858945 ray858945 Nov 21, 2014 4:12 PM Flag

    Thanks for the correction. $2M per year is still not crazy high by Wall Street standards. PSEC has to compete for people, and money talks on The Street just like it does on this board.

  • Reply to

    Management Fees

    by ray858945 Nov 21, 2014 3:52 PM
    ray858945 ray858945 Nov 21, 2014 4:24 PM Flag

    P.S. Thank goodness they don't have to hire baseball players or actors ... it's all relative.

  • ray858945 by ray858945 Nov 21, 2014 3:52 PM Flag

    I think this analysis is accurate, but comment if its not.

    Total management fees = $50M per year
    Total employees = 100
    Average per person = $500,000 per year

    That sounds like a lot to me, but, by Wall Street standards, it's a deal. It's easy to find guys making 100 times that or even a 1,000 times that.

  • Reply to

    Scary news. Real scary actually.

    by lenloc Oct 7, 2014 5:49 PM
    ray858945 ray858945 Oct 9, 2014 9:19 AM Flag

    Are you saying that the Democrats have not been patriotic? What is patriotic ... dropping bombs on the target du jour? I have hated every Repub since, and including, Ronald Reagan ... anybody is better. And no more Brush in the WH.

  • Reply to

    Will be out on the water

    by carl_icahnt Nov 10, 2014 8:19 PM
    ray858945 ray858945 Nov 10, 2014 8:26 PM Flag

    Hey Carl ...

    I was in the USAF during the Viet Nam War, and flew over 200 combat missions. I had a reunion with about 50 of my flyer friends this past summer. Best Wishes to you.


  • Reply to


    by vremsen Nov 17, 2014 2:36 PM
    ray858945 ray858945 Nov 17, 2014 3:33 PM Flag

    One reason is that PSEC, and all other BDC's, were removed from the Russell 2000 a few months ago. Many institutions simply buy the ETF's that tracks the Russell, or other indexes. So, BDC's get left out of those institutional portfolios. I don't know how big of a percentage that is, about 7% - 8%, I think, but it's part of it. And, as mentioned below, PSEC has very high insider ownership compared to other stocks.

  • Reply to

    I still dont understand

    by frigator Nov 7, 2014 2:52 PM
    ray858945 ray858945 Nov 7, 2014 3:15 PM Flag

    In that case, the new companies would have to buy any assets they wanted from PSEC .... the assets won't be just handed over to a new company with the existing owners [us] getting nothing.

  • Reply to


    by slicktop4 Dec 10, 2014 10:03 AM
    ray858945 ray858945 Dec 10, 2014 3:22 PM Flag

    Agree H ...

    I don't think Barry spent over a million two days ago because he had nothing better to do. Does that guarantee a higher PPS for PSEC? Not in the short run 'cause Barry can't control the market, but it surely means he has confidence in the future. If anyone is not bolstered by the Chairman buying over a million in stock, then sell your stock and have a beer ... have a couple.

  • Reply to

    Will be out on the water

    by carl_icahnt Nov 10, 2014 8:19 PM
    ray858945 ray858945 Nov 11, 2014 10:09 AM Flag

    I flew intelligence flights from Okinawa to Viet Nam, Laos and the Gulf in RC-135's. Also, was stationed in Cam Ranh Bay TDY for about 6 months total flying RC-130's. Tour was from 1969 to 1971 [30 months]. I've been to Da Nang, and I've watched the gunships and helicopters rain bullets [tracers] on the Cam Ranh jungle at night when the enemy would try to sneak on base. We flew long flights so my 200+ flights were about 4,000 hours. I got 19 Air Medals and a Distinguished Flying Cross as souvenirs.

  • Reply to

    From the FSC conference call

    by marionpolk2000 Dec 1, 2014 10:29 PM
    ray858945 ray858945 Dec 2, 2014 9:38 AM Flag

    Ethel ...

    He said there are lots of deals right now; the hardest part is finding the leverage. Supposedly, that's PSEC's intention with the NAV question ... maintaining their credit facility on which they just got a rate reduction.

  • From Investopedia:

    An issue of rights to a company's existing shareholders that entitles them to buy additional shares directly from the company in proportion to their existing holdings, within a fixed time period. In a rights offering, the subscription price at which each share may be purchased in generally at a discount to the current market price. Rights are often transferable, allowing the holder to sell them on the open market.

    For example, a company whose stock is trading at $20 may announce a rights offering whereby its shareholders will be granted one right for each share held by them, with four rights required to buy each new share at a subscription price of $19. The company will also specify that the rights expire on a certain date, which is usually anywhere from one to three months from the date of announcement of the rights offering.

    Companies typically issue rights to give their existing shareholders the opportunity to buy additional shares before other buyers, and also to enable current shareholders to maintain their proportionate stake in the company.

  • Reply to

    Ulterior Motive Tied to Selling Stock Below NAV

    by jimcooper28 Nov 16, 2014 12:14 AM
    ray858945 ray858945 Nov 17, 2014 3:38 PM Flag

    You're kidding, right? External managers don't have a fiduciary responsibility?

  • ray858945 ray858945 Dec 20, 2014 2:43 PM Flag

    Psac ...

    I don't know why these guys are so harsh with you ... seems like a totally reasonable question to me. Yes, since the shorts pay the divy on borrowed shares, the company doesn't have to.

22.14-0.08(-0.36%)Dec 24 1:00 PMEST

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