- Paperback: 334 pages
- Publisher: Booklocker.com, Inc.; 5th edition (July 19, 2013)
- Language: English
- ISBN-10: 1601451636
- ISBN-13: 978-1601451637
- Product Dimensions: 6 x 0.8 x 9 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 99 customer reviews
- Amazon Best Sellers Rank: #378,771 in Books (See Top 100 in Books)
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Preferred Stock Investing, 5th Ed. 5th Edition
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"I am very happy with the CDx3 method. I used to put my longer term money into CD's and government agency debt. Now I buy preferred stocks from the CDx3 Bargain Table. It's a perfect fit!" –Carl Jensen, Futures Trader
"I'm doing super with the CDx3 system." –Don Cummings, Private Investor
About the Author
Doug K. Le Du is a preferred stock researcher. His initial research regarding the market price behavior of preferred stocks was published in a 2003 research paper with the first edition of Preferred Stock Investing following in 2006. Doug also publishes two monthly preferred stock research newsletters - the CDx3 Newsletter and CDx3 Research Notes.
Top customer reviews
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As for his website, I made an attempt to manage my preferred security research with the other online sources, but they are cumbersome and do not alert you to new shares as they arrive on the OTC (a very important source for good prices). So I now use his website and am extremely pleased.
This is the best book out there on the topic, and Dr. Doug runs an excellent online system that helps me select and manage my preferred shares.
2. Direct quote: "One thing you can say about a period of increasing interest rates is that it is ALWAYS followed by a period of decreasing rates." He proves this point by showing a graph of rates from the 80's - 2009, which trended downwards the whole time. If interest rates start trending up over the next 30 years, everyone buying his preferreds will get stuck with lower than market yields and no capital appreciation as there would be no reason to call them.
3. He neglects to inform you about quantumonline, which he throws in the "pay service sites" category. Quantum is by far the biggest resource of free information on preferreds and provides much of the information he claims is hard to find anywhere outside his service.
Summary: It's an ok primer, but oversimplifies the risks and spends most of the book pushing his subscription service. You'd be better off going with Paul Joseph's book, which gives you the same basic information and a better awareness of risks.
The author also answers your questions when you subscribe to his cdx3 notification service. So, such advice can be extremely VALUABLE!
This book and a free subscription to his monthly WEB are still useful tools, without subscription to the fee based newsletter. I have investing with good profits from subscribing to his service, having my questions answered AND reading his book.
The reader should benefit significantly from this book, regardless whether the reader is a "buy and hold" or perhaps more appropriately "buy and watch" investor (until maturity or call) OR a trader of Preferred Stock as advocated by the author. Most of the ideas are sound. There are very few recent books written on Preferred Stock Investing. It is worthwhile for the nominal cost of the book and the time to read and study this somewhat specialized alternative mode of investing in the Preferred stocks or Preferreds. Investing in the Preferreds does have inherent risks, when the interest goes up or drastic market downturn as in September 2008 and again in March 2009. These drastic downturns created opportunities for substantial gains after the crises. Preferred investing appears to be appropriate at this time of yield starvation income investment environment.
Nothing works all the time as pointed out in another Preferreds book, authored by Ken Winans.