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Post by Chahta on Feb 6, 2023 13:44:07 GMT
Buying PIMIX now, you will do fine for long term. The trick is to buy low. If bought for income then you can afford to lose NAV in the future.
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Post by steadyeddy on Feb 6, 2023 15:46:24 GMT
Buying PIMIX now, you will do fine for long term. The trick is to buy low. If bought for income then you can afford to lose NAV in the future. With e*Trade where there is no minimum $ to add and no TF I can accumulate PIMIX on dips as I am expecting volatile market for a while.
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Post by Fearchar on May 6, 2023 1:06:24 GMT
It's been 3 months since my initial post. Looking back; here is what I see: Notice that while PIMIX has out performed PDO since my post, it's return has been meager. PDO on the other hand was miserable with considerable losses. Despite this, my opinion of PDO and PDI remain the same. That is, with elevated cost of traditional leverage, I don't see how PDO (or PDI for that matter) can sustain their distributions. I'm still optimistic regarding PIMIX, but watching it closely for any weakness. According to Morningstar, PIMIX distribution is now 6.91% None the less, I believe this distribution as secure.
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Post by steadyeddy on May 6, 2023 3:21:35 GMT
PIMIX seems to be maintaining a steady distribution of 5.5 cents per share since September 2022. I do not think it uses managed distributions, but it appears to be somewhat like that?
If you annualize that payout the yield at $10.49 price point is 6.29%.
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Post by anitya on May 7, 2023 21:23:50 GMT
Fearchar , Do you own PIMIX and in what percentage of your portfolio? Discl: my entire fixed income is in Treasuries or MM, except a trivial trading position in PAXS. (Interestingly, it does seem PIMIX AUM size has not deterred it from performing against its competition.)
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Post by Fearchar on May 7, 2023 22:34:13 GMT
anitya , Yes; I own some PIMIX. It's about 9.4% of my portfolio and my only "Bond" holding as I don't consider T-Bills to be bonds. 37.0% in MM's (mostly VMFXX) 24.7% in Treasuries 0.1% in cash
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Post by Deleted on Jul 16, 2023 14:49:02 GMT
I bought a wad of PDO end of May @ $12.50. It's currently @ $13.14. That's +5.1%. Current yld is 11.7%. ER is 2.8%. If no price change: 5.1% + 11.7% - 2.8% = +14% annualized ..... I am no CEF student but I don't understand the negative PDO talk. What am I doing wrong? I get this big check every month which seems like a good thing.
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Post by chang on Jul 16, 2023 15:01:02 GMT
@axe Could be your starting point. Here's PDO from its inception. (Click to expand.)
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Post by Deleted on Jul 16, 2023 15:33:41 GMT
@axe Could be your starting point. Here's PDO from its inception. (Click to expand.) View AttachmentI see. Thank you sir . So now I'm a proponent of "reversion to the mean".
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Post by richardsok on Jul 16, 2023 18:15:11 GMT
I bought a wad of PDO end of May @ $12.50. It's currently @ $13.14. That's +5.1%. Current yld is 11.7%. ER is 2.8%. If no price change: 5.1% + 11.7% - 2.8% = +14% annualized ..... I am no CEF student but I don't understand the negative PDO talk. What am I doing wrong? I get this big check every month which seems like a good thing. You're doing nothing wrong, axe. For those investing a year ago, PIMIX was probably the better buy BACK THEN. But you were shrewd enough to make your PDO purchase a couple of months ago after PDO had completed its bear trajectory and had shown good support. (Buy low, sell etc, remember?) What does the future hold ? We have no idea how PDO will do in comparison. But you DO know you bought a good fund, run by intelligent management and at a discounted price with reliable monthly income. We also see PDO is now on a mild bullish trajectory recently. All good. We also might surmise that even if the worst occurs and PDO cuts its distribution, you will still be getting a probable 9 or 10% yield on your original cost. The world is full of old-time investors who dreamed of such an income stream.... and today chortling about the 5% they're getting in T-Bills. No matter what you buy, there will always be something which, in two years hindsight, will always look better. But, between two good funds, how will one compare for a new money buy today? Probably unknown.
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