May 23, 2018. As regular readers know, we buy stuff when IT IS ON SALE……meaning there is a one-time temporary reason for a price decline. As long as there is no change in credit quality, we will buy at a reduced price.
We are now able to buy Apollo AINV while it is on sale. The stock hit a low on March 29 and has been rising. But we are NOT interested in the stock. We ARE buying the bonds which mature in March 2025 and the yield to maturity is a nice 6.27%.
The stock AINV is ok to buy…….paying over 10%. The price right now is $5.65. But we prefer the bond.
FUND DESCRIPTION: Apollo Investment Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Apollo Investment Corporation’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company provides private debt market solutions to middle market companies in the form of senior secured, mezzanine and asset based loans and may also acquire equity interests. The Company seeks to provide private financing solutions for private companies that do not have access to the more traditional providers of credit. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, LLC, a leading global alternative investment manager.
Why didn’t we think of that?
Wholesale Carrier Network
For its Wholesale Carrier Network, AWN intends to use commercial aircraft as “mini-satellites”. The company’s primary target customer-base will be worldwide data and communications service providers.
Sometimes you run across an article that blows your mind. We suggest you read this about food stamps and obesity.
Food stamps have long been a dietary disaster. Walter Willett, chair of Harvard University’s Department of Nutrition, observed, “We’ve analyzed what (food stamp) participants are eating and it’s horrible food. It’s a diet designed to produce obesity and diabetes.” A 2017 public health study found that food stamp recipients were twice as likely to be obese as eligible non-recipients. Similarly, a 2015 USDA report revealed that food stamp recipients are more likely to be obese than eligible non-recipients (40 percent vs. 32 percent).