March 6, 2014
Go to “Investments Core Portfolio” for current holdings.
Short and Long Term Outlook: Bullish
Update: BUY at $10.85
Business Development Companies (PSEC is a BDC that is in our core portfolio) have been getting hit because of the following:
“Changing gears, I asked him to comment on a hot topic this past week, since it resulted in a general sell off of BDC shares. That being S&P’s decision to eliminate BDCs from consideration in its index tracking products, removing Prospect from the S&P SmallCap 600 Index, of which it was a constituent.”
This change doesn’t make a diddles worth of difference on the fundamentals of BDC’s. Uneducated investors are selling. You want to buy positions when they are on sale. It appears PSEC will go lower but if you want to add, or buy for the first time, THIS IS YOUR OPPORTUNITY. Start looking at $10.74…and $10.40 would be great.
Investing is all about patience and waiting for the fire sales. Don’t miss this one. PSEC is paying over 12% Can you believe it.
Also watch BDCL an Exchange Traded Note that includes approx 26 BDC’s. Buy at $28.00 but we may get a lower price. On the risky side so buy only a small amount. Paying over 14%.
Yes this is from Fox: “For the first time in a Fox News poll, fewer than four voters in ten — 38 percent — approve of President Obama’s job performance. Fifty-four percent disapprove. Before now Obama’s worst job rating was 40-55 percent in November 2013. Last month 42 percent approved and 53 percent disapproved (February 2014).”
WSJ: Mr. Obama’s job approval ticked down to 41% in March from 43% in January, marking a new low. Some 54% disapproved of the job he is doing, matching a previous high from December, when the botched rollout of his signature health law played prominently in the news. The latest survey also showed the lowest-ever approval in Journal/NBC polling for Mr. Obama’s handling of foreign policy.
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