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Re: BDC stats 11-17-17 + new (but flawed) rule of thumbex_hacker202 asked " Where did you get the NAV for that spreadsheet?" If you were paying attention to the multiple earnings release updates posted on this board, the NAV information is a component of the quarterly earnings release information. That data is harvested one earnings release at a time. The good news - Yahoo Finance supplies "book value" numbers - and one can format the data output in the display of "multiple ticker data displays" to output those numbers. The bad news - Taking a look at one of those pages this morning and inspecting for BDC "book values" (which are really NAV values in the case of BDCs), I found that Yahoo is still using NAVs from Q1-17. I would not have been much surprised if they were still using NAVs from Q2. But still using Q1 numbers??? That once data rich site is showing multiple signs that "they have just stop trying to be good or reliable". From my own experience with BDCs, making purchase decisions based on Price/NAVs ratios (or movements in those ratios) is one of the most sub-optimal (the 'kind' way of putting it) things one can do. As has been shown in recent postings of my data, (1) There is inertia in NAV movements and (2) The Price/NAV ratios of BDCs is highly correlated to that historical inertia. I would expect that if you are making CEF purchase decisions based on premium/discount numbers, then you would have some historical and numerical evidence of the wisdom for taking that path. I believe it would be a benefit if you were to share such information with this board. |
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Msg # | Subject | Author | Recs | Date Posted |
2757 | Re: BDC stats 11-17-17 + new (but flawed) rule of thumb | ex_hacker202 | 0 | 1/1/2018 11:54:55 AM |