Have you looked at any BDCs and if so, what have you found of interest?
Might want to look at MAIN. It specializes in equity, equity related, and debt investments in small and lower middle market companies. It does not seek to invest in start-up companies or companies with speculative business plans. It seeks to invest in traditional or basic businesses. Market cap around $800.M. Just recently raised dividend. MAIN has traded publicly since 2007, so not a long dividend history.
I think its Texas location for its main office is a plus, too, giving the company physical and hopefully relational proximity to the business community of the Southwest and Southeast.
It took a leap of faith to buy MAIN above NAV but I took it mainly because I'm a great believer in insider buying as an indicator. From the 8K: Net Asset Value of $15.19 per share at December 31, 2011, representing a 16% increase compared to $13.06 per share at December 31, 2010
It has certainly paid off so far. Also had same philosophy on O; always overvalued, but goes higher and performs well.
Also, both are monthly payers, thus capturing more of the market volatility that can buy more shares. |
