TSX:BPO.PR.A - Post by User
Post by
Carenaon Apr 09, 2024 3:10pm
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Post# 35979674
BPO Prefs
BPO PrefsHi there,
I think for all us BPO pref holders, we can certainly pat ourselves on the back for hanging in there and showing the conviction. No bragging, just a soft pat on the back and this builds confidence for the next storm.
I can admit I was literally closing my eyes and plugging my nose buying the N series in the $6's back in October. And here we are in the mid-$11's plus a $0.50 in dividends in the bank.
With the benefit of hindsight, the short thesis was that the junk rating was coming and the ETFs were going to have to bail. The short thesis was never about bankruptcy or dividend cuts but rather a test of conviction of its long term holders.
As always seems the case, Brookfield came to our rescue with the NCIB . And rightly so, given they let the junk rating happen, which was terrible.
For me, its time to lighten up a little again. Just in case another storm blows in.
As Pierre says, "Life is Good!"
Carena