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I absolutely need to start using google docs. Major shortcoming in the Apple Numbers spreadsheet program is inability to pull a feed from internet (at least not without some programming that is a little above my head). That being said, I have found that inputting data, no matter how time consuming, is a great way to gain an appreciation for how stocks and companies measure up against each other. I will look at adding some of your data points to my spreadsheet.

One item I have on my sheet currently is the number of distribution payments the current price is over/under which leads to a question that's been hanging out there in my mind. I understand the (wise) advice to not buy above par (but the advice on buying low and selling hi...that one still escapes me...) However, if I purchase a pfd above par but recoup that overage in distributions, what is the concern? As an example...yesterday, PSA-G was at $25.20 (0.80% above par) with a current yield of 6.94%. That is 0.46 payments above par. If I bought 100 shares at $25.20= $2520 invested. In the first distribution, I would receive $43.75 ($1.75 ann distribution/4*100 shares). If PSA called (@ $25.00/share) that security following the first and only distribution I received, I would lose $0.20/share ($20.00) on the call but will have netted $23.75 by adding back the distribution. To me, the apparent danger is the issue of being called before receiving a distribution. Is there another danger I am not seeing?

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