Added Saratoga Investment Notes to Portfolios
By: Tim McPartland,
While we would prefer to have a bit higher coupon on our purchases these notes fit the requirments of some of our portfolios which demand we hold just short/medium duration securities and these notes have a maturity of 2023 so they fit our duration needs.
As we have done with our last 2 purchases we vacillated on the purchase and paid $25.88 for the shares–as we have mentioned before there is no excuse for this. We could have bought them down near $25, but instead did not make the purchase a priority in our lives and waited a couple of days after trading began before executing a trade. Long term this is not of consequence, but why pay more than you have to pay?