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Preferreds are in rather thin air.

How so? AFSI-A, inexplicably depressed after a recent Seeking Alpha short's attack against AFSI, trades at 18.27 (with a par of 25, so you don't need to worry about being called;-) with a yield on cost of of 9.24% _as a qualified dividend_ (nicer for tax purposes than dividends paid by REIT preferred, which are treated as ordinary income;-).

I don't call this "rather thin air" (and indeed I accumulated a nice chunk, doubling down on the due diligence which convinced me to keep my AFSI common and indeed extend my exposure a bit as it crashed from the short's attack).

And, it's just one of several `distressed` preferred stocks you can currently get bargains on (although, IMHO, perhaps the single best one of those bargains)...
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