RE:RE:RE:Perferred looks goodLook around sport - it is literally the worst time to brag about grabbing an illiquid high dividend (unless you are happy about that 100 shares traded on the series C so far today haha)
You've boxed yourself into an unwinnable position.
Your proposition is that they will wind up and you will get redemption value of $25 a share and double your investment. (I will ignore the fact that you lied about the prospect of tripling your investment- which is impossible at these prices). Sounds alright except for the fact that you presented that prospect versus the commons. But the thing is if they wind up they arent doing it in any universe unless they get a net to common share windup value for more than three times the current value of the commons, and maybe more (at these prices their NAV theory is more than 4X, but I digress) however your slice it. So in this, your, scenario, you lose at least a 100% gain in redemption to what you could have gotten if you had invested in the commons.
The other scenario is the one they've stated repeatedly is their objective. That is to deploy the assets to accretive acquisitions and use tax losses to the company's benefit. Redemption of the preferreds is not in the cards under any circumstances in this scenario. The best the prefs get is an SIB like the last one where preferreds massively over-subscribed for a redemption of far less than 25 bucks. Why did they do that Mr. Wise, if they were going to get an easy 25 bucks? So in this scenario you sit around collecting your dividend from a nearly untadeable equity while it just so happens to be a time frame where you could have been in the marketplace buying highly liquid blue chip stocks paying similar dividends and with the potential to triple in price as we come out of this crisis. So you lose again. Loser.