1. OXLC's NAV has declined sharply, with continued share issuance contradicting prior buyback plans; 2. The fund's 23% headline yield is unsustainable, facing risks of distribution cuts and potential reverse splits due to NAV erosion and payout coverage gaps; 3. Long-term investors have suffered poor real returns as price depreciation and payout reductions undermine income, making OXLC less attractive compared to safer income alternatives.