The Only 2 External BDCs I Own - And Plan To Hold For Decades

The article argues externally managed BDCs face a structural headwind because their fees and incentives may not support durable long-term compounding. It frames the market setup as a high bar for selection, noting the author holds two externally managed BDCs that have “passed the test.” Overall, the message is cautious rather than a specific catalyst-driven move.

Analysis

The article argues externally managed BDCs face a structural headwind because their fees and incentives may not support durable long-term compounding. It frames the market setup as a high bar for selection, noting the author holds two externally managed BDCs that have “passed the test.” Overall, the message is cautious rather than a specific catalyst-driven move.