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  • REIT Dividends Are Like Snowballs: All You Need Is Wet Snow And A Long Hill [View article]
    Brad - I wrote an article that covered the returns via DRIP for REITs. It has been a great trade for the past few years

    http://seekingalpha.co...
    Mar 11 12:31 PM | Likes Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    I agree a lot of these BDCs are trading over NAV and it will be interesting to see which one has the next secondary.
    Jan 11 10:35 PM | 1 Like Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    Hello BigB - I reviewed ARCC's Q3 and Nicholas Marshi included a great comment on some concerns with them - http://seekingalpha.co...

    With that said, I firmly believe in the ARCC management team and will try to evaluate them again after the next round of earnings
    Jan 9 11:22 AM | Likes Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    GlowWorm - being long since 2009 for most securities would be good. I believe in PSEC enough to keep them as a "HOLD" but I do not plan on adding any additional shares. My current favorite BDC is TCAP, but I believe they may be tapped out in terms of capital gains.
    Jan 8 05:53 PM | 1 Like Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    The main reason to wait for the secondary and to buy at the drop is that if you buy today at $11.19 and the secondary offering is within a month, the potential drop (5-10%) would eliminate any gains you have by holding onto the stock for that time.

    As I said before, there are a few other reasons to sit on the sideline with this stock and as I mentioned in another article in 2011 (dated but still applies), PSEC does not sit above book for long - http://seekingalpha.co...
    Jan 7 01:27 PM | 1 Like Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    I believe the secondary will be in January if the earnings report is not as positive OR it will be in early February right after the release.
    Jan 7 01:21 PM | 2 Likes Like |Link to Comment
  • Prospect Capital - Record Year, Bullish Indicators, But Wait [View article]
    I sold out of BKCC and FSC last year as I believe they have some issues. I am hesitant to add any additional equity exposure until the debt ceiling/sequestration are worked out. I will be posting an article after the Q4 10Qs are released rating the best/worst BDCs for the year.
    Jan 7 11:59 AM | 2 Likes Like |Link to Comment
  • The Fiscal Cliff: Sell Now Or Wait? [View article]
    As the next commenter pointed out - there is no way to predict the future. A capital loss now IS worth more if you are willing to sell it Jan 2 and have a gain you also wish to cover. However, "holding" losses should only be done if you have done some research (or read credible other research) and believe the stock is still a good fit for your portfolio
    Dec 6 04:37 PM | Likes Like |Link to Comment
  • Why Great Northern Iron Ore Is Overvalued [View article]
    Thanks for the comment BarnDerk. MSB will be an interesting one and it is possible GNI could end up with a higher residual. Should be interesting once the year ends and they update their NAV.
    Dec 6 04:35 PM | Likes Like |Link to Comment
  • The Fiscal Cliff: Sell Now Or Wait? [View article]
    Exactly Brian - the main reason I wrote this post was so I could prove to myself that trying to gain a few points of tax alpha these last few weeks of 2012 would not be worth it.
    Dec 6 11:21 AM | Likes Like |Link to Comment
  • Ares Capital Q3 2012 In Review [View article]
    Thanks for the write up Nicholas! Anyone who is looking into ARCC should make sure to read this comment.
    Dec 5 11:14 AM | 3 Likes Like |Link to Comment
  • Ares Capital Q3 2012 In Review [View article]
    Hello Robin - the FirstLight portfolio was an example of Ares taking over the management of the existing mess. They did not create the Leverage^Leverage company, but they did help fund it. The people who were running FirstLight are not the same people that run ARCC. In the CC, they mentioned that leverage levels are rising again but they are focusing on keeping their investments to a 4.5 to 5 level. When we see them investing in company's at a 7x EBITDA purchase price, then there is concern.

    Curious question - why do you feel the offering could be within the next two weeks (before year end) ?
    Dec 5 12:07 AM | 1 Like Like |Link to Comment
  • Ares Capital Q3 2012 In Review [View article]
    Hello TwistTie,
    Thank you for reading. ARCC has been a huge player in the Business Development sector since the Great Recession. For more articles on them, please click into my history or check out articles from Nicholas Marshi.
    Dec 4 07:22 PM | Likes Like |Link to Comment
  • Why Great Northern Iron Ore Is Overvalued [View article]
    The next benchmark for this company's value will be their 10-K. This should provide all of the detail we need as far as estimating a final payout.
    Sep 25 12:41 PM | Likes Like |Link to Comment
  • Moody's expects to lower its U.S. credit rating to Aa1 from Aaa in 2013 unless budget negotiations "produce a stabilization and then downward trend" in the government's debt/GDP ratio. [View news story]
    A Moody's downgrade would be bad as two out of the three major agencies will have the US no longer AAA. This will blow up some CLO/CDO/guidelines as they scramble to get a higher average quality score in their funds.
    Sep 11 11:28 AM | 3 Likes Like |Link to Comment
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81 Comments
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