A history lesson with preferredsI've been trading and following preferreds for a couple of decades.
They are the biggest money makers when they drop in price.
One of my recent preferreds that I loaded up on was AAR (AMR's preferred)..I loaded up at $5.90/$6.40)collected about 10 dividends and sold it at $24...(30,000shares)...
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At the time the whole world was ending...AMR was going bankrupt....sell,sell,sell,......blah,blah,blah..
AAR did not skip a beat,it paid all it's dividends and went back to $25....
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YLO preferreds will do the same,especially since the company is actually "cash rich"..about $1 billion in cash.
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GOOD LUCK GUYS.