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Does anyone have PSEC?
Old 09-25-2009, 11:11 AM   #1
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Does anyone have PSEC?

Does anyone have PSEC? If yes, is it good for long term buy? How can they ~15% dividend?

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Old 09-25-2009, 12:03 PM   #2
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Snidely Whiplash's Avatar
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Originally Posted by rsingh6675 View Post
Does anyone have PSEC? If yes, is it good for long term buy? How can they ~15% dividend?
Be very very careful here. PSEC is one of my speculative stocks, less than 1% of my portfolio and money I'm not particularly relying on for the future. Also realize that I have enough losses from ACAS and ALD to carry forward for years. I thought they were good deals at the time.

PSEC has still been able to raise capital and maintain their dividend through this downturn unlike most BDC's. They are issuing shares below NAV, but using same to buy assets (ref: PCAP) at an even greater discount. They are still looking for accretive acquisitions.

That being said, their assets are currently not producing enough NOI to cover the dividend payout. Obviously, that cant continue indefinitely.

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Old 09-27-2009, 06:44 PM   #3
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Agree with Snidley, don't bet the farm. Check out their website and you can see the companies that they have invested in, that by itself may turn you off.

"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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