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No. of Recommendations: 2
'Circus,

If you don't like what I said, then ignore what I said instead of trying to pick a fight.

The point I was making --and that you misunderstood-- is there is no one right way to do any of this investing/trading stuff. But goals and beliefs do drive choices, and the list you created has embedded assumptions that cannot be justified *if* one's intentions are to make good use of the asset class.

Case in point. You obsess about agency-assigned ratings, but fail to realize how meaningless they mostly are. What matters --always-- is market-implied ratings. Secondly, you failed to address the risks of buying preferreds that never mature, or are so long-dated they might as well be considered 'perpetual' versus pdfs that have a stated and nearby maturity. Third, you failed to address 'call risk'. Fourth, you completely ignored the impact of price on achieved return.

Forums like this are no place to learn anything meaningful or useful about investing. But they can be good place to have one's ideas challenged.

Arindam
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