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William Packer  

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  • Excellent Growth And Dividend Opportunity In Medley Management [View article]
    Robin, the NAV of Sierra income Corp fell by 3% in Q3. See the offering price and prospectus for more info. It was related to the spread m2m. My guess is that MCC suffered from a similar hit. Keep in mind that the money isn't lost forever... Non-accruals matter so much more. Also, as you know, Mcc and Sierra are mostly floating rate assets... Less NAV volatility. For more on the average price of purchases, etc... See my stock talk posts. MDLY is very illiquid which generates a lot of volatility.
    Oct 1, 2015. 08:44 PM | Likes Like |Link to Comment
  • American Capital Mortgage slashes dividend, gets aggressive with buybacks [View news story]
    Are you kidding? MTGE is going to drop on the news.. really bad ROE man. Like 7% NII ROE and they lost 6% of book last quarter... I mean.. just how many years is it going to take to get the book value losses from last quarter (and going forward) back? lol. Don't forget taxes.
    Sep 17, 2015. 07:49 PM | 1 Like Like |Link to Comment
  • Medley Capital: Huge Insider Buying And Cheap Valuation [View article]
    Robert, you probably won't be around when MDLY is trading at $30 in a couple years. This post will be buried like all my other excellent calls from the yahoo boards and here. MDLY is an investment opportunity not just a buy it and it immediately goes up and you sell it. That is not what that post was about. It was about buying for the fundamentals and long term. BDC investing is different. Timing is more important because NAV destruction via charge offs directly impacts earnings and the price you pay matters a lot more than buying MDLY at $8 or $9 or $10 or even $18. Ok. It's different. I guarantee that two years from now you won't give me a pat on the back for choosing MDLY when it's at $30. but in the meantime it's easy for you to criticize me... Despite the fact that I got a pretty good price and I am getting paid handsomely to own a growth stock. Oh and when I tell people two years from now that I bought MDLY for myself and clients and brag about it... People will say it was a no brainer and if they knew about MDLY they would have done the same and how my decision to buy MDLY at $8 was just a no brainer and that I am not a genius for buying at that price. But I will be sure to link this post that I was criticized. And then they will tell me... Yes, but there will always be some guy out there who just doesn't get it. Just like back in 2009 when I bought BDCs... People said they were all going bankrupt and I said that is hogwash... And I put 100% of my assets in BDCs.

    Bottom line: I am a 28 yr old man who started at age 21 (January 2008) trading/investing full time with only $72,000 of capital. I paid all my own bills from trading and never had to work another job in my life. not many people can claim that. Not only did I pay my bills and taxes, I grew my account value in a serious way. Today my net worth is 84,000 shares of MDLY. 100% of my assets.

    I am not saying this to brag, but to defend myself and my track record.
    Sep 17, 2015. 01:12 PM | 1 Like Like |Link to Comment
  • American Capital eyes getting more aggressive [View news story]
    Nothing is priced in, ever. Gary is just gonna lose more book value even if rates don't move. (Which is what the case has been)
    Sep 16, 2015. 06:36 PM | 2 Likes Like |Link to Comment
  • TPG Specialty Lending makes play for TICC Capital [View news story]
    More m&A is on the way for BDCs. More take overs. MCC is small and a good target... Huge discount to NAV and a senior secured loan asset base.
    Sep 16, 2015. 10:13 AM | 1 Like Like |Link to Comment
  • Essex Rental: After More Heavy Lifting, I'm Still Bullish [View article]
    Strategic, I think you hit the nail right on the head with your comments. I believe you are correct.
    Sep 13, 2015. 07:38 PM | Likes Like |Link to Comment
  • American Capital Mortgage: Waiting For The Fed To Make Its Move [View article]
    " Given that REIT taxable income is below the dividend level, MTGE is not required to pay the full $0.50 per share dividend to maintain its tax status. REITs generally distribute 90% of taxable income. However, keep in mind that mREITs are pretty much judged by their dividend levels. MTGE would almost certainly see its share price adjusted lower if the dividend is cut. As a result, I do not see any cut coming in the short term. "

    I do...I see it getting cut to 0.40.
    Sep 13, 2015. 11:19 AM | Likes Like |Link to Comment
  • A New 2x Leveraged ETN Tracks Non-Energy MLPs And Yields 14% [View article]
    They forgot to add MDLY to the asset manager ETN....
    Sep 12, 2015. 11:28 PM | Likes Like |Link to Comment
  • Prospect Capital - Lies, Distortions And The Truth [View article]
    45cal, was addressing poster "mythoughts." PSEC is a trade. Timeframe/horizon depends on a lot of factors. I never hold Any one BDC for long durations (years)..not even for clients. Something always happens where I need to rebalance them. MDLY is different, it's my only real investment I have ever made for the long term.
    Sep 11, 2015. 01:36 PM | 1 Like Like |Link to Comment
  • Prospect Capital - Lies, Distortions And The Truth [View article]
    Ummm PSEC hit $8 so you are wrong and I was right.... I wish people would stop being so hostile against my commentary because I have called so much correctly it's ridiculous. Is 2 months LONG TERM for you? Since that is all it took to get to $8... All I get is hostility for my comments on various investments and me calling things correct has got me no where. I should just stop helping and making all these correct calls. Am I perfect? No but come on I call things the way I see it and I have a solid track record in such calls.
    Sep 10, 2015. 10:32 AM | 2 Likes Like |Link to Comment
  • Fifth Street Finance makes good on buyback promise [View news story]
    Great news for FSC, bad news for fsam.
    Sep 9, 2015. 08:30 AM | Likes Like |Link to Comment
  • Prospect Capital Management And The Brilliant Spin-Off [View article]
    SA has the best investor community online, period. They are just trying to keep something great intact while working to expand what the community offers. It's the members, readers, contributors that keep this place full of life.
    Sep 8, 2015. 05:38 PM | Likes Like |Link to Comment
  • Investors give thumbs up to Fifth Street Finance's boosted buyback pace [View news story]
    Bill, the share price is not under their control. They invest money and its reflected in the NAV. Total returns haven't been that great. Nothing to get overly excited about. The stock price has gone down as a result. I think returns could stabilize going forward for all BDCs. We go through these periods of credit losses and then periods of stable NAV. This stabilization period could last years before the depreciation starts up again. However, If FSC can invest in higher quality companies and improve their underwriting.... Nav will become much more stable throughout all cycles. PSEC does an excellent job at this... NAV has been very stable over the last 6 years. MCC has done well too, but more recently ran into trouble last few quarters. I think MCC will stabilize again as well.
    Sep 7, 2015. 06:40 PM | 1 Like Like |Link to Comment
  • Prospect Capital Management And The Brilliant Spin-Off [View article]
    I am not your typical financial advisor. I work for myself and have a small circle of high net worth client accounts that I manage. I don't play games or sugar coat anything. I suppose some people might think it's unprofessional the way I am. However, what you see is what you get. No hidden secrets or skeletons. I post/say what's on my mind and I think my friends, family, and clients appreciate that.
    Sep 5, 2015. 07:08 PM | Likes Like |Link to Comment
  • Prospect Capital Management And The Brilliant Spin-Off [View article]
    I edited my post a few times when it was in the making.. you might have to read it again to see why.. but I tried to answer your question in so many words. My life is full of crazy stuff.. so I think when you asked me the question... all this stuff I have been bottling up.. just blew. lol.
    Sep 4, 2015. 12:41 PM | Likes Like |Link to Comment