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Preferreds [Hardcover]

Ken Winans (Author), Gary Hanauer (Editor), Renee Robinson (Illustrator)
3.5 out of 5 stars  See all reviews (11 customer reviews)


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Book Description

February 11, 2007
Amazingly, this is the first book , since the 1930's, devoted to traditional preferred stocks, Wall Street's best-kept secret in income investing. Although it's a mystery why this time-tested investment medium largely has been overlooked, the tips in this book will help readers navigate the world of preferred stocks and other income investments now and in the future. There is a single objective in mind ~ to make sure you're armed with useful information on how, why and when to take advantage of preferred stocks.


Editorial Reviews

Review

Preferreds - Wall Street s Best-Kept Income Secret Reviewed by Mike Carr, CMT Technical analysis is generally applied to common stocks, market averages, debt instruments and futures markets. An overlooked investment, preferred stocks, is rediscovered in this book, and the author demonstrates that technical analysis works in these issues. This book, which may be the fi rst book dedicated to preferred stocks published since the 1930s, is a worthwhile read for investment managers and advisors looking for new ideas to generate returns in their income investing accounts. Winans noticed that the number of listed bonds was declining at a time when conservative investors were facing a bear market and increasing downside stock market volatility. From 1988 through 2005, the number of NYSE-listed bonds declined by 88%, the number of retirees was increasing, and concerns about stock market returns worried many investors after the declines of 2000-2002. Offsetting these forces, Winans observed, was an increase in the size of the preferred stock market, which more than quadrupled as bond offerings contracted. The question needing to be answered is whether or not preferreds are liquid enough to be used in income accounts. Winans found that the market for these stocks is liquid, and actually can be analyzed with standard technical tools, including trendlines, chart patterns and indicators. This book includes many examples of that analysis. It also includes detailed reports on more advanced analysis techniques. In one illustration, regression lines with standard error channels were used to identify overbought and oversold extremes. The method was shown to be profitable, and serves as a great starting point for skilled analysts to continue research, building upon the basic idea . --Technically Speaking Newsletter 9/2007

Mr. Market by William Gibson An exchange traded fund (ETF) for preferred stocks, U.S. Preferred Stock iShares (PFF), is now trading. Speaking of preferred stocks, a new book (Preferreds, Wall Street s Best Kept Income Secret was recently written and published by Novato, California-based money manager, Ken Winans. It s a good primer, probably the best book ever written on the subject, including technical considerations. Ken s research shows a 40-week moving average works best. --Mr. Market 4/2007

About the Author

Kenneth G. Winans, CFA, CMT is the president and founder of Winans International Investment Management and Research. For more than 24 years, he has conducted extensive investment analysis and designed innovative investment models and strategies. The Wall Street Journal, Barron s, Forbes, and USA Today have published much of his investment research. Ken can be heard every Wednesday 1-1:30 p.m. on Los Angeles most popular news radio station, CBS affiliate KNX (1070 AM), in a segment called Wednesdays with Winans.

Product Details

  • Hardcover: 208 pages
  • Publisher: KGW Publishing; 1st edition (February 11, 2007)
  • Language: English
  • ISBN-10: 0979301483
  • ISBN-13: 978-0979301483
  • Product Dimensions: 9.1 x 6.2 x 0.7 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (11 customer reviews)
  • Amazon Best Sellers Rank: #1,404,979 in Books (See Top 100 in Books)

More About the Author

Kenneth G. Winans is a successful investment management entrepreneur, an award-winning author, and an active philanthropist.

For over 27 years, he has conducted landmark investment research and designed creative investment strategies while serving as a portfolio manager, investment analyst, broker and investor.

He is a regular guest on TV and radio shows nationwide and has had much of his investment research published as headline articles by leading websites, magazines and newspapers.

Ken is President and Founder of Winans International Investment Management it manages equity and fixed income investments for clients throughout the country and has won national acclaim for its success. In 2009, Winans International won the Small Business Commerce Association's national "Best of Business" Award. In 2008, Goldline Research ranked Winans International in Forbes Magazine as one of the "10 Most Dependable Investment Advisors."

He pioneered the development of several important investment indexes and technical indicators. In fact, The Winans International Preferred Stock Index (WIPSI)™ and the Winans International Real Estate Index (WIREI)™ (patent pending) are considered leading market indices in Wall Street publications and are used by major financial and academic institutions. The data is available through Global Financial Data.

In 2007, Ken wrote and published the first book on preferred stocks since the 1930s, "Preferreds: Wall Street's Best-Kept Income Secret," a winner in the 2007 National Best Book Awards. 19-months later, he wrote and published his 2nd book "Investment Atlas: Financial Maps to Investment Success." This investment history book reviews 200 years of events and how stocks, bonds and real estate reacted. It was the winner of the 2009 Next Generation Indie Book Award's highly competitive Finance category.

He is a Chartered Market Technician (CMT), and is President of the San Francisco Chapter of The Market Technician Association. He is also a member of the Chartered Financial Analyst (CFA) Institute.

Ken has a Bachelors degree in Business Economics from the University of San Diego and a Masters in Finance from the University of San Francisco. In 2004, USF named him one of its most celebrated graduates.

He serves as a trustee for several non-profit organizations such as: The Museum of Finance (New York City), The W Foundation (Novato), Chabot Space and Science Center (Oakland), and the Society of California Pioneers (San Francisco).

Ken and his wife, Debbie, are long-time residents of Marin County and are active in industry and community groups. He is a renowned collector of artifacts from space exploration as well as antique financial documents. Many pieces of his collection are on display at leading museums coast-to-coast.

 

Customer Reviews

11 Reviews
5 star:
 (7)
4 star:    (0)
3 star:    (0)
2 star:    (0)
1 star:
 (4)
 
 
 
 
 
Average Customer Review
3.5 out of 5 stars (11 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

14 of 16 people found the following review helpful:
1.0 out of 5 stars A short book that is low in content, December 22, 2007
This review is from: Preferreds (Hardcover)
I was very disappointed in this book. It is a short book to begin with, but unfortunately this is one of those investment books that fill many of its pages with technical charts. (97 charts and 26 tables in 202 pages) Very, very few practical tips. A lot of subjects simply go unmentioned, or are only mentioned in passing.

No coverage of yield versus risk. Just a brief mention of quantumonline, the best online resource for researching preferreds. No mention of strategies surrounding ex-div dates, and whether to buy or sell just before going ex-dividend. And incredibly, no book index.

A very large part of the book is devoted to Winans own index of preferred stocks, the WIPSI. I get the impression that he is trying to provide credence and academic standing to this index, perhaps in the hope that some ETF will pick it up and commercialize it.

But for the average investor, there's simply very little here to recommend.

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5 of 5 people found the following review helpful:
5.0 out of 5 stars Informative, and practical, book, September 17, 2007
This review is from: Preferreds (Hardcover)
This book is outstanding for the professional and part-time investor. The techniques are clearly explained and illustrated and can be implemented by anyone in less than an hour on a weekend. Will it work in the next bear market? The only thing we know for sure is that a bear market will occur, and with preferred stock, any losses will be cushioned by dividend income.
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4 of 4 people found the following review helpful:
5.0 out of 5 stars Review From 30-Year Wall Street Professional, June 28, 2008
This review is from: Preferreds (Hardcover)
"Good book; clear and concise, which for whatever reason, seems to be a problem for many people who write financial books."
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
moving average analysis, trendline analysis, cumulative change, week moving average, signal date, red small dots, red large dots, preferred stock index, equity income investments, overbought signals, oversold signals, red solid line, logarithmic lines, income investing, price chart, bad signals, ratio charts, average advance, income portfolio
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Research Summary, Equis Intern-al, Signal Rules, Date Weeks, Dow Jones Corporate Bond, Incorrect Crossings, Regression Analysis, Winans International Preferred Stock Index, Inverted Yield Chart, Wall Street Orphan, Signal Overbought, Portfolio Management, Duration Signal, Bringing It All Together, Date Change, Change Yield Return, Equis International, Annual Yield, Equis W--al, Individual Preferred Stocks, Yield Chart
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
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