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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (73367)	8/29/2023 3:20:20 PM
From: Area51	Read Replies (2) of 78751

BIG: I'll take the gain in shares today to exit most of my position at about break even. Earnings better than expected but still looks like declining revenues and margins and still not even close to profitable. I do like to invest in companies with high short interest sometimes (can get nice price bumps on short covering sometimes perhaps like today with BIG) but I'm not so sure the short thesis on BIG is flawed. PTMN: I thought they had a high CLO percentage (maybe from the old KCAP days?) but I see only 2.5% in CLO now but 72% of their investment loses. On the other hand I see XFLT with 50% of their investment portfolio in CLOs but NAV has been increasing over the last six months. But for today when the spread on KCAP is reasonable I like PTMN better than XFLT (and PTMN and XFLT have similar yields). I also still like SEVN as a cash alternative that may appreciate as money mrket rates decline next year. JXN: I'm out of a small position. Up on index inclusion, and I'm thinking that large gap opens based on index changes may just be temporary?

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