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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (47851)	5/8/2012 4:37:41 PM
From: Paul Senior	Read Replies (2) of 78670

Reiterating, I like PNNT among the several BDC's I own (which includes ARCC). Stock cratered mightily in '08: finance.yahoo.com Dividend (distribution) was never cut though. Only increased: finance.yahoo.com Hard to get everything with a stock, and with PNNT already yielding over 11% annualized ($1.12/$10), I don't expect much capital gains, or growth in book value. Growth in stated bv has been minimal or non-existent (hovering slightly above $10 past few years). Because stated bv seems to be holding steady -- and at least not decreasing year over year, it gives me some indication that the relatively large distribution I have got and am getting is not significantly made by giving me a return of my capital. If there were to be another credit crunch, it's possible that PNNT and its access to, and history with, SBA monies, and the government perhaps wanting to make getting loans easier for small companies, PNNT might still have more ability to get even more SBA monies to loan out to these cash-strapped companies. Which might put PNNT in a good situation compared to banks or other financial entities. Stock could of course fall further from its current price, as it has in past. I notice one insider has confidence to step up for some shares though recently: finance.yahoo.com

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