Thanks for your analysis, Oak. I hold this in reasonable size and am down 10%. I guess nearly 18% yield was just too good.
I do hope that they use any surplus income for buybacks rather than special dividends. Special divis don't show up on most investment platforms so they don't help market the trust.
One thing is that if dividend is reduced then buybacks may continue perpetually until the discount is closed moving the discount back to around par...theoretical capital losses reversed up to a point.
Will be a similar type of investment to CVC Growth and Income which yields around 8%.
I've taken a big haircut so patience not forefront here! A couple of years down the line imagine income investors will be rewarded. Entry point here is probably good but for me not so much!
They are still buying back stock though so they think its cheap.
Bloomberg has been discussing all the problems in private credit today. Apollo has capped withdrawals at 5% of a certain fund they have. A lot of money is being taken out of the sector. I expect that FAIR isn't immune from these factors.
I suppose the fact it's publicly listed and not private credit so you can take out 100% of your holding in FAIR whenever you choose may mean that it is a beneficiary to such news about Apollo?
Thanks for your analysis, Oak. I hold this in reasonable size and am down 10%. I guess nearly 18% yield was just too good.
I do hope that they use any surplus income for buybacks rather than special dividends. Special divis don't show up on most investment platforms so they don't help market the trust.
One thing is that if dividend is reduced then buybacks may continue perpetually until the discount is closed moving the discount back to around par...theoretical capital losses reversed up to a point.
Will be a similar type of investment to CVC Growth and Income which yields around 8%.
I've taken a big haircut so patience not forefront here! A couple of years down the line imagine income investors will be rewarded. Entry point here is probably good but for me not so much!
They are still buying back stock though so they think its cheap.
Bloomberg has been discussing all the problems in private credit today. Apollo has capped withdrawals at 5% of a certain fund they have. A lot of money is being taken out of the sector. I expect that FAIR isn't immune from these factors.
Hi Team,
I suppose the fact it's publicly listed and not private credit so you can take out 100% of your holding in FAIR whenever you choose may mean that it is a beneficiary to such news about Apollo?
Best
OB