Top positive review
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Best Book on Preferred Stock
on February 24, 2014
I ordered Simon Wadsworth book in mid August along with 3 other Preferreds book, AFTER I saw some significant paper loss in my portfolio consisting of well over 50% in Preferreds. In mid June 2013, nearly all Preferreds lost value with the 10 Year Treasury Note "taper fear" following the announcement of Chairman Ben Bernanke of tapering on his Quantitative Easing (QE II). At this time, there has been very nice recovery in the Preferreds market. This book could easily save me thousands of dollars and hundreds of hours of self study. While I still subscribe to a paid service AND have studied 2 other comprehensive books on Preferreds. Cash is King, written on REITS Preferreds, conveys many extremely relevant important points to remember if you invest any Preferred stock, including Preferreds outside of the REITS sub sector.
He has also addressed the dilemma of the probable increase in the 10 Year Treasury note and good guideline on whether you should CAUTIOUSLY add more position, when appropriate as well as to slow down in investing in the REITS preferreds when the spread between the 10 Year T note to the Preferreds yield should narrow. This book is easy to read and not a thick book like the other 2 books I started back in January 2012. It is the MOST OBJECTIVE, concise and practical book ever published on this niche market. In this yield hungry investment world, Preferreds are still good source of income BUT there are risks which can be minimized by STUDYING (read and re Read) his book. I wish Simon would write a new edition so that we can learn how to cope with this challenging market, which is not exactly kind to income investing. After all, Wall Street and brokers LOVE to let you believe that the stock market is always the best place to be for long term performance. After all, it is YOUR MONEY and their commission. They always win.
PS: Despite of some paper loss which I had from the STEEP drastic drawdown in May - June 2013, my portfolio value actually increased because of the earlier purchases AND all the purchases continue to pay decent dividends, which I can never get from the highest dividend paying common stock.