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Giancarlo Nicoli

 
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  • Business Development Companies: A Blended Portfolio [View article]
    Thank you.

    I own FSC, PSEC, TCAP.

    I'm weighing whether to buy some BDCL also, which is a 2x leveraged BDC index tracker.

    My view is that you do want to know what you have, keep track of progress or lack thereof, see whether those companies are able to keep non-accruals low.

    While stock price appreciation has been absent of late, dividends are coming in. I like that kind of "cash flow", so to speak, because I'm able to reinvest the proceeds and diversify and in turn further increase the cash flow (compound interest).

    I think I will buy something on weakness. Either another name in the space, i.e. MAIN for example, which I don't own currently, or the 2x leveraged tracker.
    May 15, 2014. 05:01 AM | Likes Like |Link to Comment
  • Regional Management: Underfollowed And Undervalued [View article]
    Thank you.
    As I grow older, I'm shifting my investment philosophy, so to speak. I'm mostly buying dividend-paying companies.
    RM does not pay dividends right now, but its recent weakness might be a buying opportunity.
    Thanks for your comments.
    May 9, 2014. 06:14 AM | Likes Like |Link to Comment
  • Should You Invest With A Property-Type Bias? [View article]
    Factoids... awesome. Just an awesome article. Thank you.
    Mar 20, 2014. 04:02 PM | Likes Like |Link to Comment
  • Dendreon: Provenge should be given as soon as possible. [View instapost]
    Not in the USA.

    DNDN got a somewhat extended label in the European Union due to the fact that DNDN showed new, more compelling data wrt efficacy at earlier states of the disease.
    I'll follow up on that as I live in Italy and I'll have first-hand news.

    DNDN needs new clinical data in the USA to obtain an extended label from the FDA. It will take time.
    Dec 2, 2013. 05:40 AM | Likes Like |Link to Comment
  • Right Now Is The Wrong Time To Be Buying BDCs [View article]
    Excellent article. Thank you.
    Nov 29, 2013. 04:02 AM | 3 Likes Like |Link to Comment
  • Laid-Back Portfolio Adds Northern Tier Energy [View article]
    Me too. I own it. Timing has been unfortunate at best. I still don't see a reason to sell, though.
    Their strengths are still there. I'm holding for now.

    Thanks for your comment.
    Sep 12, 2013. 03:32 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    How far in the future the Fed will start raising short term rates? I guess nobody knows. Not even Fed officials - there's going to be some turnover over there also in the coming months.

    Will TCAP actually not be negatively affected if they have already rolled their current assets?
    I believe they will be able to earn roughly the same spread.

    With rising rates, almost every equity investment will suffer, though.
    I'm not trying to time the market.
    TCAP did well during the last downturn, so I presume they will do well during the next.
    While TCAP did better than the S&P, share price went down nonetheless.

    Again, I do not want to time the market. I invest mostly into dividend-paying companies. I re-invest the dividends as soon as they come in.
    Sep 6, 2013. 03:41 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    TCAP's debts also are on fixed rate. With rising rates, they will earn (roughly) the same.

    As rates increase, both debt and credit interests will increase, leaving (I suppose) TCAP with the same spread.
    Sep 6, 2013. 03:35 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    It's actually the opposite. You can enroll into a dividend-reinvestment plan (DRIP).

    Please see their FAQ page:
    http://bit.ly/17adIUi

    "How do I opt out of the Dividend Reinvestment Plan ("DRIP")?

    Our DRIP has been in place since our IPO in 2007. If you are an existing shareholder and have been receiving your dividends correctly, you will not need to do anything when new dividends are announced.

    If you are a new shareholder, you should check with your broker to be sure your account is set up to receive dividends the way in which you prefer. Our DRIP is set up to be automatic unless a shareholder "opts out" and elects to receive cash for dividends instead of additional TCAP shares – BUT, many brokerage firms automatically opt their clients out of DRIPs. You will want to check with your broker to be sure your TCAP dividends are paid correctly.

    Conversely, if you are not currently participating in the DRIP but would like to, you will also need to notify your broker."

    I get cash each three months.
    Hope it helps.
    Sep 5, 2013. 04:43 AM | Likes Like |Link to Comment
  • Another Favorable Look At Business Development Companies [View article]
    Really no, I didn't.
    Yes I'm aware PSEC is well positioned.

    The biggest BDCs have been able to finance at fixed rates though. I have no links to substantiate my previous statement. I recall that from memory of transcripts I've read over the last year.
    Sep 2, 2013. 01:19 PM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    I had a quick glance at it.
    They IPOed in April of last year. They are too young. No meaningful (to me) observable trend.
    Sep 1, 2013. 03:56 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    Thank you.
    I'm also watching MAIN.
    As a buying opportunity, I'm waiting for a meaningful correction... which never materializes.
    Sep 1, 2013. 03:47 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    TCPC is on my watch list but I do not routinely do research on it (sorry).
    Aug 30, 2013. 11:06 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    Thanks. I'm also long TCAP and PSEC.
    Aug 30, 2013. 11:04 AM | Likes Like |Link to Comment
  • Business Development Companies: A Blended Portfolio [View article]
    I'm pleased you're happy.
    Aug 30, 2013. 10:45 AM | Likes Like |Link to Comment
COMMENTS STATS
155 Comments
92 Likes