And by the way, perhaps we should mention again that now is an especially bad time to buy a preferred. Of the several hundred listed in the WSJ listing, all but a handfull are priced at a premium over their call prices. This is a normal effect of low interest rates. Of the remainder, most are companies with uncertain finances. You wouldn't want to touch those unless you were certain their finances were going to improve. They are speculative investments at best (unless you have reliable information).The final group are the few new issues that have not yet become popular and well known. They can be OK if you check them out carefully.Also be aware that rising interest rates will cause all interest baring investments to decline in value. That does include preferred stocks. So you will be stranded with a paper loss until either the issue is called out from under you (probably at a loss) or interest rates again return to historic low levels.Still they can be OK if you buy them right, hold them and then sell at the right time.Something to think about.Good luck.
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