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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (29140)12/3/2007 10:35:58 AM
From: Madharry  Read Replies (1) of 78676
 
I increased my position in mcgc substantially after listening to their latest presentation. Thanks Paul for bringing this one up. I am very impressed with the speaker and the the presentation. they are giving guidance of dividends of $1.76 for fiscal 2008, which equates to a yield of 16% at current mv. So this looks like a no brainer for me. they mark their portfolio to market on a quarterly basis, they have 3rd party review of their investments, as well as audited statements. Currently i believe they sell at a discount to their porfolio valuation of 9/30/07 of at least 20%.
They have very little housing exposure, and one recently poorly performing investment clear-tel which they are well aware of, and accounts for most of the increase in poorly rated credits in their portfolio.
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