Top positive review
10 people found this helpful
With verve, Winans reminds us an oft-forgotten investment
on February 16, 2011
The preferred share is the platypus of the investing world. It's not quite a stock and not quite a bond. It is just a little bit complicated, what with its credit rating and yield-to-call and so on. It is likely to underperform when the market goes on an upwards tear or into a major plunge. Preferreds are not easy to research at places like Yahoo! Finance. Big institutions usually avoid them because they're too thinly traded. No wonder most of us forget to even consider investing in preferred shares.
Given all that, Ken Winans has achieved something remarkable. He shows us that preferreds produce good risk-adjusted returns when markets are meandering--as they do much of the time. And he makes persuasive case that since most people forget preferred stocks, they should be a mainstay of any smart investor's life.