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koleffstephan

koleffstephan
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  • Prospect Capital And Risk-Adjusted Returns [View article]
    MoFanatic: "I haven't seen anyone bringing MAIN into the PSEC conversation but shills." Really? I guess you did not read this article that ColoradoWealth Management wrote whereby he specifically talks about Schwab Dividend Mutual Fund and MAIN BDC even though the article is entitled "PSEC and Risk-Adjusted Returns." Lots of "obsession with MAIN BDC" on the PSEC message board "but I ain't one of em."
    Jul 5, 2015. 08:38 AM | Likes Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    incredulous123: Correction: No capital losses unless you sell. PSEC investors are looking for high dividend income and no interest in selling until if and when there time horizon for investing changes - got it. Dividends therefore are funding many and much purchases of quality life (education for children, homes, cars, etc..) all the while PSEC investors holding their shares.

    MAIN investors: "Averaging all the way up." Thanks but no thanks. No realized capital appreciation and MAIN dividends are "simply adding to paper gains." Got it.
    Jul 4, 2015. 08:55 AM | Likes Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    Paul Grimmer: "Welcome to my world." I too - like you - bought PSEC for the dividend and I too - like you - continue to buy it and have been purchasing shares at these prices too. I was lucky enough to purchase some shares back in 2009 when the stock traded as low as $7.19/share but PSEC did not trade at that stock price for too long so I was not able to purchase as many shares as I wanted to. This time, I have been able to purchase several thousand shares at prices of $7.29, $7.62, and $7.42 per share. I believe that these prices represent good value (otherwise I would not have purchased the shares to begin with) - especially in comparison other BDC stocks. Glad that you too don't pay much attention to the MAIN cheerleader/message posters that post on the PSEC message board. Like you, I have no problem with message posters posting on the merits or perils of investing in PSEC stock (points/counterpoints) but most of the message posters counterpoints are - paraphrasing - "PSEC is a ponzi scheme because the management team makes so much money and they are just simply buying PSEC shares with some of the exorbitant fees that they make,"; "Why would would buy PSEC stock at a 25% reduction in NAV when you can purchase MAIN at at 44% premium to NAV which is simply a reflection of MAIN quality management versus greedy PSEC management,"; and the list goes on and on.
    Jul 4, 2015. 08:46 AM | 1 Like Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    Colorado: Just remember that your articles don't "rile up the PSEC bulls" because not much - if any credence - is placed on your articles that you write about PSEC. However, I will say that PSEC long term investors are "grateful" to you for any involvement that your articles may have in causing PSEC to be sold down in price by PSEC traders allowing investors like myself to continue to purchase PSEC stock that these prices. So, if you want to pay $35-38/share in Schwab to receive $1.20/year in dividends versus paying $7.18-$8/share in PSEC to receive $1/year in dividend, then please "pass the soap" as I am rather enjoying all of the "good lather" that you are dishing out. Keep em coming.
    Jul 4, 2015. 07:49 AM | Likes Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    Guardian 3981:

    Comparing a low cost index dividend fund like SCHD to a much higher dividend payout stock like PSEC is again, comparing apples to oranges. An investor looking to purchase PSEC or any individual stock is not looking to remove "individual security risk," otherwise they would not buying an individual stock to begin with - the would be buying a mutual fund (like the Schwab Dividend Fund). Secondly, if we are comparing the amount of dividend payouts of PSEC vs Schwab, taking into account how much the share price is of each holding (PSEC vs Schwab) costs to receive that amount of dividend, PSEC "blows away" Scwab. The only "ignorance" demonstrated is by writers and message posters who think that getting or receiving $1.20/yr in dividends (Schwab) and paying $35-$38/share to get that dividend is a better deal than getting $1/year in dividends (PSEC) and paying $7.42/share to get that dividend. I guess this ignorance is what also keeps people reading articles like the one written by this author and then going out and purchasing the Schwab Dividend Fund and receiving the whopping 2.4% dividend payout (quarterly) versus going out and purchasing PSEC and receiving 12-13% dividend payout - monthly.
    Jul 4, 2015. 07:40 AM | 1 Like Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    BigAI70:

    Yes, I agree with you. "Main's management would have to be stupid to buy back stock when their stock trades so much above NAV." I'll give you another one: "Investors would also have to be stupid to buy MAIN stock when it is trading so much above NAV."

    How about another Title worthwhile Seeking Alpha Article: "Who has a higher dividend payout than PSEC based on percentage of share price for the last 10 years?"

    And yes, I further agree with you, if I were a "new" investor looking to purchase BDC stocks, I would be looking to purchase BDC stocks that trade below NAV - like PSEC.
    Jul 4, 2015. 07:20 AM | Likes Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    incredulous123: I make a gentleman's bet that MAIN does not ever buy back a single share either.
    Jul 3, 2015. 01:45 PM | 1 Like Like |Link to Comment
  • Prospect Capital And Risk-Adjusted Returns [View article]
    colorado: Let me see now. Schwab Dividend Equity Mutual fund pays 2.4% quarterly dividend per year and PSEC pays 12% monthly dividend per year, as the stock prices of each respective stock are trading to date. Of course, if you want to regress and "go back" 5-10 years out, Schwab's dividend payment might have been as high 4.8% quarterly per year. Investors that are purchasing are presumably purchasing either Schwab or PSEC or dividend payouts with presumably no concern with short term ( 5 years or less) capital appreciation but certainly concern for long term capital appreciation. Yet, you write an article about "risk adjusted returns" taking into account capital appreciation/depreciation when PSEC's mandate is to pay high levels of current dividend income and long term capital appreciation and the Schwab mutual fund that you reference has never paid "high" levels of dividend income in comparison to any BDC stock trading on the public markets including PSEC stock, albeit it has had capital appreciation. Really? Most investors looking for high levels of dividend income who are not looking to buy and sell shares on a regular basis (which in doing so would initiate tax issues) would never even consider a 2.4% quarterly dividend payor mutual fund like Schwab in comparison to Prospect Capital. An investor looking for high levels of dividend income would do best to "skip" your article. I can't wait to read your next article on PSEC. Let me guess? You will recommend another "better" mutual fund or stock that generates a 1.4% quarterly dividend payout. I was wondering if prior to writing this article you calculated how much money in dividend payouts the Schwab dividend mutual fund you recommend paid out in comparison to how much Prospect Capital paid out for any time frame/period you choose to compare? Just curious.
    Jul 2, 2015. 07:05 PM | 9 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    incredulous123: I am - at this point in time - not satisfied with the lack of capital appreciation of my investment in PSEC - but quite satisfied with my monthly dividend payout of my investment with PSEC -pure and simple. I have no need "to justify my investment to anyone who will listen" and I have plenty of responses to my message posts - which again - I could care less if one, none, or all respond to my message posts. You "are good" with the enjoyment of reading your own message posts (you must be busy) and with criticizing anyone who is not a MAIN BDC stock holder cheerleader - like yourself or Buzz. You are also "good" at criticizing Prospect Capital but never revealing what BDC stocks and the amount you own, respectively. However, don't be "so hard on yourself" as I see you don't articulate in your message posts what "you are good at." I am sure if you think about it for a while ( a long while) you will come up with something that you are good at. I bet you could "catch up with the tax code" and become an expert at accounting as it relates to BDC investing.
    Jun 24, 2015. 08:23 PM | 2 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    Peel the Onion: I think there is more of a chance of you becoming a MAIN BDC cheerleader than Buzz "change his tune" about PSEC. Thankfully, investors like yourself pay no credence to his writings and actually purchase BDC stocks with their own money to make money, rather than purchasing for "research purposes, as Buzz purportedly states." Please know that Buzz has a habit of contacting SA to have my message posts removed, so while I see no reason why this message post has to be removed, I do hope that you are able to read it, should the post be removed.
    Jun 23, 2015. 07:32 PM | Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    jaxgab and rumbaguy: Most PSEC shareholders got the "point" of your message posts quite well and do not feel like you "missed the point" at all. The price you pay for not being a MAIN cheerleader.
    Jun 23, 2015. 07:26 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    increduluous123: I am good at collecting $178,430 per year in dividend income in my non-retirement account and collecting another $30,00 per year in dividend income in my retirement account - all because of the "greedy" management of Prospect Capital Corporation. I am also good at reading your "commentary thread" messages that are anti-PSEC (read: MAIN cheerleader) and responding appropriately, all in the context of having many of my message posts deleted or altered by SA. I am still trying to figure out what you are good at?
    Jun 23, 2015. 06:48 PM | Likes Like |Link to Comment
  • Prospect Capital Corporation: A Potential Issue With The Proposed Spin-Offs Impacting NII [View article]
    docpvh,incredulous123, MoFantatic: Being "pro- PSEC," I too, have had multiple posts deleted, or altered by message posters who cannot disagree with my posts but instead contact SA to have my posts deleted or altered. Shady dealings indeed and for sure. No sense in continuing to post (as far as I am concerned), when SA arbitrarily decides to "listen" to SA authors or message posters who cannot debate on their own but instead need the "help" of SA police. No mas para mi (as they say in the Spanish language).
    Jun 22, 2015. 09:55 PM | Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    MoFanatic: As you stated, "you were on the outside looking in (albeit.....) it doesn't look that way from here." Things are never what they may seem, when - as you say - "you are on the outside looking in." Again, I "am good" with my original message post and answer. As for Rumbaguy and the answer that you are looking or did not receive from him - you will have to pose that to him again.
    Jun 19, 2015. 09:39 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    incredulous123: The author does not write anything that is not already known and accounted for in the stock price and in shareholders minds and potential shareholders minds. I would certainly hope that PSEC investor relations department does follow all social media content ("Also mentions SA and Yahoo by name, so mgmt clearly follows these boards) as would any Investor Relations Department looking to determine what reputation it (PSEC or any other company) is fostering on social media. Just a no brainer there.
    Jun 19, 2015. 04:29 PM | 1 Like Like |Link to Comment
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