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  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    You need to learn about weighted average cost of capital (WACC) and how it affects BDC profitability.
    Jun 20, 2015. 09:24 PM | Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    rafraf,

    RumbaGuy was making a prediction about the future 30 years, not about the past 30 years.
    Jun 20, 2015. 05:50 PM | Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    RumbaGuy,

    "Unlike PSEC, MAIN makes money off of their shareholders."

    Please explain how you reached this conclusion. In my personal experience, neither MAIN nor PSEC has made money off of me.
    Jun 20, 2015. 05:49 PM | 1 Like Like |Link to Comment
  • Dividend Smackdown: REITs Vs. Utilities [View article]
    That was definitely a typo. Anyone can check the 10 year Treasury yield here: http://bit.ly/1Jsj1Eq
    Jun 20, 2015. 05:33 PM | 1 Like Like |Link to Comment
  • Do Buybacks Benefit Dividend Growth Investors? [View article]
    If all asset allocators had the skill of Warren Buffett then there would be a good general case for buybacks. That is not the world we live in.
    Jun 20, 2015. 05:21 PM | 1 Like Like |Link to Comment
  • Do Buybacks Benefit Dividend Growth Investors? [View article]
    Not only that, but 'dividend rate' is not a function of payout ratio. Dividend rate is dollars per share. This fact is one reason why boards execute buybacks - so the total dividend payment is decreased.

    In our low interest rate world, it makes financial sense for a company to borrow long term at today's low rates to buy its stock, if the dividend due on the retired stock would be less than the interest cost. Not only does less money go out the door, but the interest can be deducted as an expense, whereas the dividend cannot.
    Jun 20, 2015. 05:13 PM | 5 Likes Like |Link to Comment
  • Main Street Capital: An Investment For All Interest Rate Environments [View article]
    Payment date is 6/25[1].

    http://bit.ly/1I6wUq1
    Jun 20, 2015. 04:53 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    ACAS plans to do the spin-off in Q3[1].

    [1] http://1.usa.gov/1I6wiR3
    Jun 20, 2015. 04:48 PM | 1 Like Like |Link to Comment
  • Scanning The SA Family For Alpha: Daskapital1000 [View article]
    Whalefungus,

    Growth stocks are normally understood to have superior earnings growth. By this definition, Amazon is an anti-growth stock.
    Jun 20, 2015. 02:48 PM | 4 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    I searched the actual 10-Q for the number you reported: 284,343. I found it in a section described as follows:

    "The following table presents the assets and liabilities of our consolidated securitization trusts for the asset-backed notes..."

    You thought you were seeing total assets, but you were not. I suggest you study what this section was reporting.

    It takes time and effort to understand SEC filings, but it is worth it. Now you know why your understanding was not correct.
    Jun 20, 2015. 02:14 PM | 1 Like Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    HTGC 10-Q 2015 Q1: page 3 shows total assets as of March 31, 2015 = $1,387,088 (thousands).[1]

    You should be able to find page 3 easily when viewed on your browser. Other times it will be a lot easier to view and search a large SEC filing with MS Word. Download the document onto your system, then open it with MS Word. Search for 'total assets'. I use MS Word because its search feature is easy to use. If you don't have MS Word then try to use an HTML reader that has a search feature.

    Bloomberg is not an authoritative source. The authoritative source is the SEC filings. Compare the actual 10-Q to what Bloomberg published.

    [1] http://1.usa.gov/1RjCV38
    Jun 20, 2015. 02:05 PM | Likes Like |Link to Comment
  • Do Buybacks Benefit Dividend Growth Investors? [View article]
    My preferred holding period is 'forever', so buybacks do not put money in my pocket.
    Jun 20, 2015. 01:11 PM | 4 Likes Like |Link to Comment
  • Do Buybacks Benefit Dividend Growth Investors? [View article]
    Robert,

    Thanks for your continued efforts to stick to facts.

    I agree with Buyandhold 2012. I would much rather have the cash and make my own capital allocation decisions than leave it to a BoD to decide. Too often, management is involved in aggrandizement schemes that end up as failures. I prefer pass through entities that must go to the capital markets to grow. Their financing activities are scrutinized by the markets, and although not perfect, decisions made by Mr Market often produces better outcomes for owners.

    There are a very few examples of companies that regularly do buybacks and regularly raise dividends and regularly produce superior investing results, e.g. mighty MO. I am quite happy to DRiP my dividends from these. If only they were more common.
    Jun 20, 2015. 11:23 AM | 2 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    RumbaGuy,

    Once again, you are using an idiosyncratic definition of total return. You don't have to believe me that you are wrong, there are many other sources that agree with me: Morningstar[1], FinanceFormulas[2], TheStreet[3], etc. What you have actually described is dividend income.

    Please tell us how you know what will happen over the next 30 years. My crystal ball refuses to say anything.

    My prognostication for the near future is quite different from yours, and based entirely on past performance. I keep a spreadsheet with all dividends paid by both MAIN and PSEC. Since PSEC has existed for longer than MAIN, I compare dividends paid over the time that both have existed. If you had bought equal dollar amounts of MAIN and PSEC on Oct 9, 2007, which was the first date on which MAIN traded, you would have by now received 85% of your original MAIN investment in dividends, and 69% of your original PSEC investment in dividends.

    I see no reason to expect PSEC's relative dividend performance to improve, and many reasons to expect it to continue its downward spiral. You are aware that PSEC has decreased its dividend twice in the past, aren't you?

    I expect continued good results from MAIN. I see no reason for its future to be any worse than its past. Unlike PSEC, MAIN has never decreased its dividend.

    [1] http://bit.ly/1L7YSCt
    [2] http://bit.ly/1zQ5KkJ
    [3] http://bit.ly/1L7YQup
    Jun 19, 2015. 07:41 PM | 2 Likes Like |Link to Comment
  • Which BDCs To Buy After Selling Prospect Capital? [View article]
    RumbaGuy,

    Astonishing. You need to take Balance Sheets 101.

    Assets = Liabilities + Owners' Equity[1]

    This is another example of your idiosyncratic definitions of common investment terms.

    One of the requirements for successful communication is that the participants have a common understanding of the words being used.

    You should by now have realized that your definitions have elicited nothing but negative comments. Try paying attention to the crowd, you might learn something.

    [1] http://bit.ly/1d6Dkse
    Jun 19, 2015. 07:11 PM | 3 Likes Like |Link to Comment
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