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Scott Kennedy

 
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  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi sinkerman,

    I appreciate the comment and thanks for the acknowledgement.

    Scott
    Nov 22, 2014. 10:49 PM | 1 Like Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi fawndyann,

    I don’t believe the recent sell-off in FSC was “company specific”. Basically, most of the BDC sector sold off at varying levels. I agree, FSC is currently attractively priced. Thanks for taking the time out to share your thoughts on the subject.

    Scott
    Nov 22, 2014. 10:46 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi AllStreets,

    You stated, “…I don't see FSC ever trading above 9.50 in 2013…”. Was this was a "typo" on your end? FSC traded above $9.50 for a good part of 2013. Did you mean “below” $9.50 per share in 2013? FSC traded below $9.50 per share after it reported results for the fiscal fourth quarter of 2013 in late November / December 2013.

    I went back to my brokerage statements to make sure I had the correct dates / prices. My quoted statement in your comment above is 100% accurate. I purchased FSC on 12/13/2013 at $8.97 per share and sold 50% of my existing position on 7/9/2014 at $10.11 per share.

    I’ve noticed when one looks at historical charts, depending on the “range” and “functionality” of the charts, you may not see daily stock prices (or intraday prices). Here’s one site which could help:

    http://bit.ly/1y2MjBE

    Thanks for the positive feedback on the article and for the comment / inquiry.

    Scott
    Nov 22, 2014. 10:41 PM | 1 Like Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Kal,

    Thanks for taking the time out to write a positive comment. You're welcome.

    Scott
    Nov 22, 2014. 10:29 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Bruce,

    I appreciate the response. Thanks for sharing your current strategy.

    Scott
    Nov 22, 2014. 10:27 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Dividends,

    Thanks for the continued positive feedback on my articles. Yes, if there's enough reader demand, I will provide a future article on FSC's dividend sustainability. This would probably be some time in December.

    Scott
    Nov 22, 2014. 10:26 PM | 3 Likes Like |Link to Comment
  • Assessing Prospect Capital's Results For Fiscal Q1 2015 [View article]
    Hi Lee 99,

    Thanks for taking the time to provide your thoughts on PSEC (regarding the management fees) and for the positive feedback. Yes, I agree they know what they are doing. I do not like the issuances below NAV either (like many other readers). I believe that's one negative aspect to PSEC right now.

    Scott
    Nov 22, 2014. 10:20 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Rob,

    Thanks for taking the time to provide a quick, positive comment.

    Yes, I believe the current price is attractive.

    Scott
    Nov 21, 2014. 09:38 PM | 2 Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi djsulli,

    Thanks for the positive feedback. It never hurts to be cautious so I can understand your viewpoint.

    Scott
    Nov 21, 2014. 09:37 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Bruce,

    Thanks for the continued positive feedback.

    Let me know if you have any further thoughts after you take a more detailed look this weekend.

    Scott
    Nov 21, 2014. 09:33 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Stevlg,

    I appreciate the continued positive feedback regarding most of my articles.

    I appreciate it.

    Scott
    Nov 21, 2014. 09:32 PM | Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi yblarr,

    Thanks for sharing your thoughts about FSC.

    Regarding the dividend increase, I believe the article stated it was mainly due to the JV's / future JV's. See my comment above for a further discussion on this topic.

    Scott
    Nov 21, 2014. 09:31 PM | 2 Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi zmarzz,

    Thanks for taking the time to share your thoughts.

    As stated in the article, FSC only began to fund SLF JV 1 in July 2014. In October 2014, FSC announced, along with their JV partner, they will be expanding their capacity. As such, comparing this quarter’s NII with the new dividend rate (which only begun in September 2014) is “premature” in my opinion. I would wait at least another quarter or two before obtaining more definitive conclusions. But yes, one of the most
    important aspects to FSC right now is to see with they can increase NII from $0.24 - $0.25 per share up to $0.26 - $0.27 per share.

    Regarding the dividend, when charting past trends, management isn’t too concerned about slightly overpaying its dividend (say $0.01 per share). Anything higher would start being a concern in my opinion. Again, I believe one needs to wait a few quarters before stating NII (more importantly, future NII) won’t cover the new rate. At this point in time, I believe the best question to ask is if FSC raised the dividend too early? One could argue they could have waited a quarter.

    Regarding the JV’s relative to the size of the investment portfolio, I currently assume they'd want the JV's in the neighborhood of 15% - 25%. Again, this time take some time (at least 1 year in my opinion).

    Thanks for the comment / question.

    Scott
    Nov 21, 2014. 09:28 PM | 2 Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi ppars,

    Thanks for taking the time out for the comment.

    I appreciate it. Yes, I'll continue to monitor FSC's dividend sustainability. I may do an article after the quarter is released if there's enough reader demand.

    Scott
    Nov 21, 2014. 09:17 PM | 3 Likes Like |Link to Comment
  • Fifth Street Finance's Upcoming Fiscal Q4 2014 Net Asset Value Projection [View article]
    Hi Marc,

    Thanks for the quick, positive feedback.

    I appreciate it.

    Scott
    Nov 21, 2014. 09:16 PM | Likes Like |Link to Comment
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