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American Capital Agency Corp. Message Board

sme20_98 97 posts  |  Last Activity: Dec 15, 2014 11:35 AM Member since: May 10, 1999
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  • Reply to

    No special dividend

    by marklibera Dec 13, 2014 10:22 AM
    sme20_98 sme20_98 Dec 15, 2014 11:35 AM Flag

    Also, seeing a significant increase in income tax expense on the most recent income statement year over year--how would you interpret that? Leads me to believe that taxable income is on the rise--but I'm no expert like you!

    Sentiment: Strong Buy

  • Reply to

    No special dividend

    by marklibera Dec 13, 2014 10:22 AM
    sme20_98 sme20_98 Dec 15, 2014 11:22 AM Flag

    No one here ever said NYMT's distribution was based upon GAAP earnings--it has always been about taxable earnings. And you guessed--did not know--whether there would be a special dividend. My comments were that the last time the available to common shareholders(we ALL KNOW it is a GAAP measure and not taxable) was this strong in 2011 they paid a special dividend. It's really only been a couple of quarters so they have plenty of time to up the dividend or pay a special in 2015. Let's ask the real question, where do you think taxable income is in relation to GAAP? and by GAAP, i mean the number they report as available to common holders. There are transactions that can have it vary widely, but have they really been documented by NYMT?--I think they would be if they were material. Time for you to get over yourself. Also, the investment they wanted has everything to do with the secondary they made. That investment requires cash, some from the secondary and some on hand--so none available for a special at this time. As I already said, they have several quarters before it would be required to pay out taxable earnings from the last two quarters.

    Sentiment: Strong Buy

  • Reply to

    No special dividend

    by marklibera Dec 13, 2014 10:22 AM
    sme20_98 sme20_98 Dec 14, 2014 4:33 PM Flag

    As soon as secondary was announced, we knew there was not going to be a special dividend. Investment was one they wanted really bad--hopefully it plays out to a dividend increase in 2015. We will have to wait and see. Still a great rate @ .27 per qtr.

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Dec 6, 2014 1:28 PM Flag

    Nothing you are saying is correct

    Sentiment: Strong Buy

  • Reply to

    Bought in at $7.80 today

    by sholley111 Dec 5, 2014 12:59 PM
    sme20_98 sme20_98 Dec 5, 2014 1:49 PM Flag

    Interest rates are rising due to strong jobs report

  • Reply to

    Why PSEC Unjustifiably Dropped

    by jimcooper28 Dec 3, 2014 9:54 PM
    sme20_98 sme20_98 Dec 4, 2014 9:44 AM Flag

    I don't disagree with your perception that it is not favorable according to the rules to not meet the 90% rule, but there are, as you have already disclosed, many ways, mostly all of them by paying hefty tax assessments, ways in which they would maintain their BDC status. certainly not the way we would want or even expect them to go but it is out there--that's all I am saying.

  • Reply to

    Why PSEC Unjustifiably Dropped

    by jimcooper28 Dec 3, 2014 9:54 PM
    sme20_98 sme20_98 Dec 4, 2014 8:03 AM Flag

    The only thing i would add here to be completely accurate is the fact that PSEC management could pay something less than the 90% and choose to pay an excise tax on the undistributed amount--not likely as their goal is to provide income to shareholders, but to be completely accurate, it is an option. The rest of your analysis is spot on. Great chance in my opinion that total distributions in 2015 are an increase over 2014--dividends plus spin off values.

    Sentiment: Strong Buy

  • Reply to

    Where did they get the $126 Million for InterDent???

    by nynut Dec 1, 2014 8:05 PM
    sme20_98 sme20_98 Dec 3, 2014 12:31 PM Flag

    all the while paying 13% dividend--nice bag to hold

    Sentiment: Strong Buy

  • Reply to

    Insider Buy, John Barry 115,000 on 12/1

    by budmasterbud Dec 3, 2014 8:42 AM
    sme20_98 sme20_98 Dec 3, 2014 10:58 AM Flag

    Prove what?? The disclosure form is filed with the SEC, what else do you need.

  • Reply to

    Question about inside buying

    by kcalw Dec 2, 2014 10:36 AM
    sme20_98 sme20_98 Dec 3, 2014 8:54 AM Flag

    You would rather they do financing deals that cost the company more in interest costs and thus lower NAV more than a discounted NAV issuance?! How does that make sense to you? you really don't understand this business with a statement like that.

  • Reply to

    Insider Buy, John Barry 115,000 on 12/1

    by budmasterbud Dec 3, 2014 8:42 AM
    sme20_98 sme20_98 Dec 3, 2014 8:49 AM Flag

    I think this shows that something big is brewing for PSEC. He has made enough purchases in the past to show his confidence in the company. This continued buying is more than just a show. He knows he is making a good investment. This is no longer about putting on a show. I think by the end of January some of their plans will start shaking out and IMHO we will be back at market prices of $11 to $12, maybe even higher

    Sentiment: Strong Buy

  • Not sure where all this negativity is coming from. NII is currently between .24 and .27 a quarter. That would deliver more than a 10% dividend at these ridiculous current market prices. And none of this prices in managements intentions to begin to leverage some form of equity deals in January . They have indicated as much that they have identified several strong opportunities to spin off what they feel are currently undervalued assets sitting on the books of PSEC which when separated would/could substantially increase in value, all to the benefit of PSEC holders. This might play out to be better than the current dividend when taken as a whole. Which is why they will wait until February to announce further dividends. But, in the mean time if 10% is the bottom, what a great opportunity. JMHO of course.

    Sentiment: Strong Buy

  • Reply to

    The Inconvenient Data Showing the Scam

    by jimcooper28 Nov 24, 2014 3:16 PM
    sme20_98 sme20_98 Nov 25, 2014 8:02 AM Flag

    You the one with no substance--does my information come from managemenrts expertise--absolutely, thats why I have invested with them, i believe in what they are doing--basic concept of investing--believe in what you are buying. That means trusting the statements management has said. You argue against them as if you know more about the structured financing deals these guys are putting together all the time. You are a joke, probably a very nervous short who has to see that proposal go down . Either way, when the January deals start to unfold you will be gone, probably with huge losses. Not wasting anymore time with your factless rants. I can listen to you or PSEC management--hmmm-- last time I looked at my account you don't send me any checks--oh and thanks for today's dividend shorty!

    Sentiment: Strong Buy

  • Reply to

    The Inconvenient Data Showing the Scam

    by jimcooper28 Nov 24, 2014 3:16 PM
    sme20_98 sme20_98 Nov 25, 2014 7:52 AM Flag

    He leaves too many of the actual facts out of his rants. Like lower cost of capital through discounted share issues--management has been clear on this. The disolutionment you get from discounted share sales is better than the steep cut NII would take using other financing means. What don't you guys understand about that. Costly financing would actually lower BV by more. To say anything else is calling management who operates this company everyday a bunch of liars, and if thats how you feel, why would you invest with them when there are so many other choices. Coop is a worried short and January deals are coming. I personally can't wait!

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Nov 24, 2014 6:42 PM Flag

    Sorry, i didn't mean to be that cruel--but you can't possibly think the large holders of PSEC care about what is said on a yahoo message board. It just doesn't work that way. And there are plenty here that understand that management has told us that that the discounted NAV issues are the lowest cost method to finance their capital needs.

    Sentiment: Strong Buy

  • sme20_98 sme20_98 Nov 24, 2014 6:38 PM Flag

    Really, you think there is anyone on this message board with the clout to have that proposal fail--man I feel sorry for you. On the other hand, I have a bridge for sale--are you interested?? COME ON MAN!

    Sentiment: Strong Buy

  • Reply to

    The Inconvenient Data Showing the Scam

    by jimcooper28 Nov 24, 2014 3:16 PM
    sme20_98 sme20_98 Nov 24, 2014 6:36 PM Flag

    It would not have increased--it would have gone down by more because they would have financed capital at higher costs than the share issuance--read the materials shorty--no one is buying your stories here any more- cover the short before things heat up in January or it will cost you dearly. Again, thanks for my dividend tomorrow. I hope they get a deal done early and trap you in your shorts!!--GET IT?!? HA HA --god this is to easy!!

    Sentiment: Strong Buy

  • Reply to

    Proposal 2 Is a Fraud

    by jimcooper28 Nov 23, 2014 1:39 PM
    sme20_98 sme20_98 Nov 24, 2014 2:30 PM Flag

    Why is it so hard for you to grasp the fact that lower earnings due to using higher costs of capital WILL impact the ability to pay the same level of dividend? Also, being forced to use financing for capital versus share issuance will have more of a possible(thus the may in the 14A) effect on the rating . These are simple facts, why do you continue to argue otherwise--you really are a short ranting here and have at this point been completely discredited by the facts--my last words here!

    Sentiment: Strong Buy

  • Reply to

    Proposal 2 Is a Fraud

    by jimcooper28 Nov 23, 2014 1:39 PM
    sme20_98 sme20_98 Nov 24, 2014 12:37 PM Flag

    Buy the way, I guess I have to add that if you are short, your not voting on anything because you don't own any shares. I meant short and telling everyone else who owns the stock to vote no, knowing a no vote is a losing way to go thus supporting your short--sorry about the misunderstanding

  • Reply to

    Proposal 2 Is a Fraud

    by jimcooper28 Nov 23, 2014 1:39 PM
    sme20_98 sme20_98 Nov 24, 2014 12:34 PM Flag

    This is my last reply to you as it hardly seems worth it but, Barry and Eliasek and the rest of PSEC management have clearly stated that the lowest cost of capital available to them is through discounted to NAV share issuances. You either believe that or you don't, but that is why they want a yes vote--period. In their view (and I trust them more than you because in your own words they have built a good investment in PSEC. I choose to believe them and vote yest. As far a dilution goes, if they don't issue the shares, capital raises will have to come from more expensive alternatives thus cutting into our NII more than discounted to NAV share issuances would--it's really not that hard to understand. So your either short and voting no or not very smart(stupid was not a nice word and I am sorry for using it) or your long and should be selling your shares because you have lost faith in the management of this company-- IMHO, I am long and will wait for their plans for PSEC to play out in January--I am really happy to see they are going the route of spinning of assets/equity positions that they view the market has undervalued. I guess we will just have to wait--In the mean time I want cost of capital to be from the most inexpensive form--discounted NAV issuances.

    Sentiment: Strong Buy

AGNC
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