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Most of PSEC’s individual investments would have to be considered risky given the early stages of the companies involved, but the portfolio is diversified across a wide variety of industries, and management recently announced it was lowering its risk profile by increasing its allocation to first-lien loans.

Investors hate dividend cuts, and PSEC’s share price has taken an absolute beating following the announcement.

If PSEC’s accounting book value proves to be slightly overstated, that’s OK.

In 2015, I’m following the insiders and going with PSEC.

Looking at this chart, PSEC’s low point in its 52 week range is $9.17 per share, with $11.62 as the 52 week high point — that compares with a last trade of $10.36.