External mgmt getting the filet mignon, while the rest of us take the soup bones. If the price gets a bounce I will unload.
I have learned that some of these analysts are more wrong than right. And some of them are paid to say what they say. For these reasons I don't pay attention to their 'wisdom'. GL
Fritzie, the suckers are you and the Porkies for buying 22M SIR shares at 31 from CWH and now at 24. EQC showed a profit of 175M ON THE DEAL.
You might reconsider what you said. If I had known 6 months ago about this income report which I hadn't read yet.....and if I had wheels, I would have a trolley.
No! They bundled junk mtges, rated them AAA and sold them to the suckers. And the Gov't gave them bailout $$ from you and me.
Gawwwwd, I love Wall St!!!!!
It was oversold allright, and I picked some more at 20+. The way I see it is that if the going dividend is maintained, the pps should climb to about 33 over time. It all hinges on their DCF, which last QTR come up to a very good level. My feeling is that the investing community sees that DCF healthy once the refineries issues are resovled. Let's keep our fingers crossed, because I believe we have a winner here. GLTA
Pacman, If you believe everything that they write on SA you are naïve. Some of their articles are self serving, a well know fact.
The reason for my raising the question in this thread is to bring some thinking outside the box and a dose of reality about MCC and other BDCs in general.. Hope your big investment works out.
For your sake and that of others here, I hope that you are right. Unfurtunately, I think you are gambling on a sick horse that is running in the wrong direction. The fact that external mgmt gets a big chunk of the revenues, and the fact that they keep on floating new shares are red flags to me. We the little people just don't know the details of what really is going on. We only see the price dropping in a strong market (horse going in the opposite direction) If it goes to break even, I will be outta here. GLTA
Furthermore, as we all know when buying gas, as the price of oil goes up, the cost of gas rises immediately if not sooner. When the price of oil goes down the cost of gas stays up there as long as possible, only to go down when folks stop buying. Gawwwwd, I love this World.
They are very competent, at making $$ for themselves with outlandish fees and incentives. This outfit doesn't have a chance unless some hedge fund kicks out this management. I wish I had known about the external mgmt when I bought. I fear MCC will disappear by slow death, and it's happening.
You are not putting you noodle to work harder.
If the dividend is 16.3% and the business is so great, then why do investors walk away from this gold mine? And don't tell me that the smart money has a lot of idiots. Maybe you and me, yes. And maybe mgmt has some rotten fish that they are holding in a closed box, nobody else knowing what's there. Back to my original question.
I may round off to the nearst 000 if it goes to 23. I really don't see much risk here because their DCF seems to cover the $ 2.74 distribution. At this point it's a 12% yield. My concern is their cost of oil and whether they did any hedging when the price was up in the 80s or 90. If that's the case they will have some short term pains when the refining starts, unless they can keep up the price of refinined products and maintain a decent spread. We could have a bumpy ride in 2015, who knows? Anyway, this is a time for celebrating. Hooray for CLMT, and may the Gods of WS be on our side! GLTA
I saw him for what he was when I posted a question on this board, where he was bragging about the 87k shares he bought (?). His arguments didn't hold water. I didn;t believe his name either.
Picked it up at 20.80.
Considering that the distribuition is due next month and the fact that 21 is becoming a resistance level I see it as going back up to 23-24 again in the short term. GLTA
"the margins are going to be higher on the profitable specialties. Where most of the money is made."
And that's what makes me think that CLMT has a lower risk. Their specialties make up ~70% of revenues, which leads me to lean toward an oversold pps. JMHO. . GLTA