pauleckler,You wrote, Not recommended unless you have a very good reason.I don't know. I mean, I no longer actively research preferreds either. Most of my new cash goes to stock (mostly index fund) investments now. But I still think preferrreds are a decent alternate fixed income investment. I still hold a few that haven't been called. And aj485 still uses them for her mortgage payoff fund. They may no longer offer any real capital appreciation; but there are still some decent issues that offer a respectable yield.- Joel
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