Sat, Jul 12, 2014, 8:49 AM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Prospect Capital Corporation Message Board

thewisejman 653 posts  |  Last Activity: 10 hours ago Member since: Feb 13, 2012
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Portugal? But it is 100% USA.

    Or because of the fear of FED's exit after October. Interesting. Nothing on this board.

  • Reply to

    In @ 9.66........Thank You...

    by keltus1952 23 hours ago
    thewisejman thewisejman 11 hours ago Flag

    Okay, clrodirck, tomorrow is Saturday. Do you mean Monday?

    As soon as I heard about the SPO yesterday, I went to lower my limit order for extra FSC this morning before market opened at ETrade. My original limited buy price was 9.95. Now there was a BIG problem because today is FSC's ex-div date and ETrade will automatically adjust any existing limit buy order price by the dividend on the ex-div date. I had no idea if it would adjust my buy order being placed in this morning or not, so I put 9.75 as my buy price and later found out my order was filled at 9.67. I guess my limited buy price was indeed adjusted by 8 cents (dividend). Wonderful! Today's low was 9.64, and any buy orders below 9.70 was filled only about 15-30 min before 10 a.m. ET. I guess I was lucky (or not, if it tanks again).
    Now the funny thing is, if I had placed my limited buy order with Fidelity, I may be in troubles because they do not correct any limit buy orders with the dividend amount. Some time if you place a buy price for high-dividend stock too close to its price before its ex-div date, you can end up paying too much for it on its ex-div date. Good example will be CEF and CHKR.
    Can everybody share their experience with limit buy order with their discount brokerages in whether they would adjust the limit buy price with the amount of dividend on the ex-div date? Thanks. J

  • Reply to

    Will the offering be repriced?

    by marionpolk2000 20 hours ago
    thewisejman thewisejman 18 hours ago Flag

    Why do you automatically assume those who bought the shares at 9.90 would sell it today at lower prices? Did you yourself sell your FSC shares at such low prices? Do you actually own any FSC shares? Priced lower to what? Please do not post any messages without doing any diligent researches.

  • Reply to

    Will the offering be repriced?

    by marionpolk2000 20 hours ago
    thewisejman thewisejman 18 hours ago Flag

    You are indeed clueless. For FSC to be able to offer only a 1.4% discount from its yesterday's closing price of 10.10 to have an offering price of 9.95, that speaks well of the future of FSC shares.

  • Reply to

    Mgmt screws everyone again

    by emiah222 Jul 10, 2014 6:42 PM
    thewisejman thewisejman 20 hours ago Flag

    If you want a stable BDC, buy MAIN at below 30.

  • Reply to

    Mgmt screws everyone again

    by emiah222 Jul 10, 2014 6:42 PM
    thewisejman thewisejman 20 hours ago Flag

    Jeez, do you rather hold SLRC instead of FSC? SLRC had become too successful and had to sell their good investments, could not add new investments and ended up having to reduce their quarterly dividend from 60 cents to 40 cents. Its share price plummeted and never recovered. its current yield is only 7.63% but its downside risk is no less than that of FSC. Do you rather hold it than FSC? Do you want to see FSC become another SLRC? IF yes, may be you should sell all of your FSC and use it to buy SLRC?

  • Reply to

    FSC will be all right

    by thewisejman 23 hours ago
    thewisejman thewisejman 21 hours ago Flag

    They chased him off? It is good to hear from him though....

  • Reply to

    A 11.33% yield!!!

    by thewisejman 22 hours ago
    thewisejman thewisejman 21 hours ago Flag

    Well, price already went back up to 9.77 Buy orders were about twice as that of sell orders. Would not be surprised to see it rise more. I was very surprised to see it dropping below 9.81 today because I do not believe its offering price can be lower than 9.81 which is its recent NAV.

  • Reply to

    Bewaer of Israel

    by thewisejman 22 hours ago
    thewisejman thewisejman 21 hours ago Flag

    Really?

  • with what happened at Gaza city, things can deteriorate very fast, MPC and HFC rose today. It would be interesting to see how this will affect oil and oil refineries stocks.

    The market appears to go nowhere today, the DOW tried to bounce back but appeared to be failing. Does that mean FSC may drop some more? I have no idea.

  • At its current price of 9.71, it was trading with about 1% discount from its recent NAV (3/31/14) of 9.81, with a 11.33% yield for Sept., Oct and Nov.

    Its SPO price is 9.95, which is actually about 1.4% above its NAV and you can but it cheaper?

    So everybody is waiting for it to drop more? To what price? If it drops to 9.18, its yield will become 12%
    Everybody tried to time its bottom? Good luck, it never work that way.....How many of you bought some PSEC at 9.17? Now it was at 10.61.

    I bought more FSC earlier today at 9.67. I am not asking you to buy or sell. You need to figure it out yourself.
    But at its current price, FSC to me is very attractive.

  • Reply to

    FSC will be all right

    by thewisejman 23 hours ago
    thewisejman thewisejman 22 hours ago Flag

    Buy a 2x leverages ETN, thanks but no thanks. Nothing good will come out of it. I would rather double up on FSC.

  • Reply to

    FSC will be all right

    by thewisejman 23 hours ago
    thewisejman thewisejman 22 hours ago Flag

    Agree with what you said, Wayne. It amazes me that so many people would buy BDC stocks because of their high dividends, yet started complaining as soon as they issues SPOs and the share price plummeted. The truth is that without new capitals (from SPOs and other venues I mentioned in this thread), how in the world can any BDCs grow and continue to sustain their high dividends? Investors kept a blind eye on PSEC which had doubled its number of outstanding shares in less than two years via ATM programs plus issuing tons of convertible notes (that can be converted to new shares once share price reach a certain price). To me, I would rather they have SPOs, at least that would reflect on their market prices.

    I just bought more FSC at 9.67 and would continue to add if it falls closer to 9.50. No fear.

  • Reply to

    FSC will be all right

    by thewisejman 23 hours ago
    thewisejman thewisejman 22 hours ago Flag

    Listening to one who had been predicting a black swan that never come and who brags about trading PSEC with no losses? Give me a break!

  • I like FSC among so many BDCS is because:

    (1) FSC has a lot of senior and first lien loans, therefore are much "safer" than many other BDCs. They also have a lot of floating rate loans and will thrive if there is any rate hike.

    (2) They continued to raise new capitals by:

    - issuing bonds (FSCE and FSCFL) and floating rate capital (FSFR);
    - had recently expanded its credit facility to 650M;
    - issuing notes (e.g. 2/14/14 Fifth Street Finance Corp. Prices Public Offering of $250 Million 4.875% Unsecured Notes Due 2019).
    - They are also smart enough to apply and obtain 10 year fixed low rate SBA loans with two SBIC licenses - 150M from 1st license and 75M from 2nd. for a total of 225M.
    "3/34/14 Fifth Street Finance Corp. Locks $43 Million of SBIC Debentures; Now Utilizing Entire $225 Million of Capacity With a Blended Interest Rate Fixed at 3.323% Per Annum"
    The advantage of having 225M of SBIC loans, beside they are fixed and for ten years is that the amount can be exempt from the calculation of its 1:1 debt/equity ratio, thus give them advantage over BDCs that do not have SBIC licenses such as PSEC.

    This shows their plan to make new investments and to increase their earnings.

    (3) They just raised their dividend by 10%, if they are not confident to sustain it, there is no point for them to do so.

    In short, any prices at or below 9.80 would be a good price to add more FSC. Any prices at below 9.50 would be a great price to double up, IMHO. J

  • Reply to

    Share Price Ruined...Again

    by johnsonjoel1 Jul 11, 2014 6:59 AM
    thewisejman thewisejman 23 hours ago Flag

    Why would FSC try to raise so much extra capital including this SPO? To make more new investments so they can continue to pay their 11% yield. Do you expect them to pay such a hefty dividend without any new investments?

  • Reply to

    Share Price Ruined...Again

    by johnsonjoel1 Jul 11, 2014 6:59 AM
    thewisejman thewisejman 23 hours ago Flag

    Do you know any stocks that never go down in prices? Do you know any BDC stocks that do not have SPOs?

    To say, "There are far better BDC's than FSC: GAIN, PSEC, TICC, FISC (OXLC is good too)." show you that you are too lazy to do you own homework.

    To say these are better investments than FSC is simply hilarious, it is like saying Toyota or Nissan made better cars than Honda. GAIN and TICC are far more risky than FSC since they have more CLOs. PSEC pays way too much dividend and its NAV will never grow. FISC is all right but its yield is so much lower. OXLC has much higher yield and is therefore much more risky. FSC has a lot of senior and first lien loans, they issued bonds (FSCE and FSCFL) and floating rate capital (FSFR) and had recently expanded its credit facility to 650M, plus issuing notes (e.g. 2/14/14 Fifth Street Finance Corp. Prices Public Offering of $250 Million 4.875% Unsecured Notes Due 2019). They are also smart enough to apply and obtain 10 year fixed low rate SBA loans with two SBIC licenses - 150M from 1st license and 75M from 2nd.
    "3/34/14 Fifth Street Finance Corp. Locks $43 Million of SBIC Debentures; Now Utilizing Entire $225 Million of Capacity With a Blended Interest Rate Fixed at 3.323% Per Annum"
    The advantage of having 225M of SBIC loans, beside they are fixed and for ten years is that the amount can be exempt from the calculation of its 1:1 debt/equity ratio, thus give BDCs with SBIC licenses advantages over those that do not have (like GAIN and PSEC).

  • Reply to

    GAIN....in @ 7.38

    by keltus1952 Jul 10, 2014 10:46 AM
    thewisejman thewisejman Jul 10, 2014 1:13 PM Flag

    Don't misunderstand me, I like GAIN but it is very very small cap, only about 196M cap. Its 12-mo low is 6.75 on 10/8/13 and October is fast approaching, de ja vu?

  • Reply to

    GAIN....in @ 7.38

    by keltus1952 Jul 10, 2014 10:46 AM
    thewisejman thewisejman Jul 10, 2014 1:11 PM Flag

    We have to be very patient and disciplined in this market. Risk will be on after October when bond tapering cease. Not necessarily a beautiful sight. Best be prepared and patient.

  • Reply to

    GAIN....in @ 7.38

    by keltus1952 Jul 10, 2014 10:46 AM
    thewisejman thewisejman Jul 10, 2014 1:09 PM Flag

    Thanks, Kel, would like to wait till it drops below 7.20 before I bite. I rather buy more FSC at below 10 at this time than GAIN.

PSEC
10.59+0.02(+0.19%)Jul 11 3:59 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.