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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.
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on March 3, 2011
At first glance, this book may appear to be an updated second edition of Ken's 2007 book, Preferreds: Wall Street's Best Kept Income Secret. Although written only three years ago, that was actually a long time in the current investment environment. The first book is an overview on what was then an almost forgotten investment instrument. This book is a review of the basics, and a retelling of the dramatic events that have occurred in the past few years. In Preferred Stocks, Ken also provides practical advice on how to invest in an understudied asset class.
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on December 8, 2010
I have followed Ken Winans' research for years, and believe it to be some of the most creative work in the investment business. This is his best book yet! It offers a lot of valuable insight into the process of investing not found in other books.
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on April 10, 2013
Mr. Winans has written the definitive work on preferred stock investing. Having constructed a century long index for tracking price and yield levels, he has provided the essential data needed to include this underappreciated investment vehicle into modern portfolio theory. Prior to his research, investors did not have the proper history to calculate where exactly preferreds rank for returns and deviations.
Seriously, one can gather data on stock indices and bond yields back to 1900. But until Mr. Winans construction of the WIPSI preferred stock index there was no continuous reference data for preferred stocks .Filling this void, in itself, is a significant contribution to the investment community.
With lots of data and visuals, This book is an absolutely necessity for anyone interested in the risks and rewards.
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on December 10, 2010
As a serious preferred stock investor, this book sheds light on this unique investment. I've read both of this author's books on preferred stocks, and this one provided more practical information about how to invest in income investments by a 30 year investment pro.
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on June 23, 2012
The purpose of the book seems to be to try to convince the investor that its too difficult to learn to invest in Perfered Stock,but for a big fee his company will do it for you. While there is some good information in the book but there is very good information on the FFC website for free.
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on September 13, 2013
Clearly identifies the risks and rewards of this assert class . The characteristics and history of preferreds are summarized. The most surprising assertion and presentation was how technical analysis is applicable to evaluating a "momentum" based approach for a fixed income investment. For fixed income investors certainty of return takes precedence over price regression returns. I found the historical yield spread tables to be the most useful since the preferred yield spreads are compared to yields of corporates ,minus ,10yr and 90 day going back to 1900. Although not required for comprehension , some technical analysis - such as trend crossovers - would be helpful.
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on July 29, 2013
This is a very thorough book.

As someone who is very familiar with regular stocks, I found this book to be a great introduction to Preferred Stocks. It gave me a thorough understanding of investment for Income.

I can see Preferreds as a great vehicle during economic downturns, or simply for people that are looking for a stable good return on their investments.

A great book.
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on April 14, 2012
This book like most of these types pushes you about a neat website that they could make money off of not sure if this is the case but sure felt that way. if you buy preferreds then you know about the free sites already and does not give you any in sight. most of the graphs and book are not side by side so a lot of flipping back and forth .. not really a class a book!
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on July 13, 2012
Excellent practical advice from a 30-year successful investment professional on how to invest in an often overlooked asset class.Ken Winans shows that preferreds produce good risk-adjusted returns. Since preferreds are largely unnoticed by investment pros, they warrant a close look and possibly a spot in your portfolio.
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