No. of Recommendations: 0
The big deal is, preferred stocks are way more liquid than corporate bonds -- traded on the usual stock markets, low commissions and bid/ask splits, the works. Individual bonds are costly to buy, and costly to sell.

Some preferreds are very illiquid. Some corporate bonds are very liquid. It all depends. What true is that the average spread for a stock or pfd is tighter than that for corps.

So, why mess with corps? Because they offer some opportunities/advantages other asset classes don't.
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