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Don't remind me again today

Just loaded up on ARCC (Ares Capital) for the passive income grind 💰



Why? 9.8% dividend yield is legit. Here's the math that made me pull the trigger:

• BDC model = loans to mid-market companies → interest income → 90% gets paid out as dividends
• Q3 earnings: $0.50/share, covering the $0.48 dividend comfortably
• Portfolio: $28.7B spread across 587 companies (0% average realized loss since inception, vs 0.6% for banks)
• 16 years of stable/rising dividends, up 26% over the past decade
• Balance sheet is tight: 1.0x leverage ratio vs 1.25x target (room to grow)

The play: Conservative debt focus (71% senior secured loans) means lower default risk. Even if rates drop, they've banked $1.26/share as a cushion.

Not financial advice, but for income-focused portfolios, this hits different 📊
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