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Robert Hemker

 
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  • Notes From American Capital's Annual Meeting: A Positive Future [View article]
    In the 1st quarter earnings release today, they cited some 13% gain in NAV - split between some combo of share buy-backs and general asset profitability that you allude to.

    But I am intrigued with your argument of past asset performance; I will definitely check into whether we are giving up high profits that could be accretive to NAV, more so than the buy-back program is. Opportunity costs are often forgotten
    May 1 06:23 PM | Likes Like |Link to Comment
  • Notes From American Capital's Annual Meeting: A Positive Future [View article]
    I understand you viewpoint; it is valid and I think it is echoed by many shareholders.
    Apr 29 01:28 PM | 1 Like Like |Link to Comment
  • Notes From American Capital's Annual Meeting: A Positive Future [View article]
    Thanks for the kind words - I'm glad you understand the overall picture.
    Apr 29 12:42 PM | 1 Like Like |Link to Comment
  • Notes From American Capital's Annual Meeting: A Positive Future [View article]
    Management restated their previously announced philosophy that they will return capital to shareholders through share buy backs while the PPS trades at a discount to NAV, and switch to a dividend when the PPS sells above NAV.

    Essentially, they have the money available to pay a dividend, but at this time it is more beneficial to shareholders to buy back shares.

    I hope this clarifies.
    Apr 29 12:04 PM | 2 Likes Like |Link to Comment
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