RE:RE:RE:RE:RE:RE:RE:RE:Sold most of my shares.... Easier to sell and then buybackYes, you are correct. I wanted to sell most of my holdings before Jan 1.... To do this, I sold down. This cost was Huge..... But at that time, my understanding was that I might be facing a bunch of BS with Converting (Transmittal) which I didn't understand. I have no clear understanding how the "process" will proceed.... So, I took the Huge "deduction/cost selling down" and on top of that will pay Huge Capital Gains tax.
Given that I felt that my Rights ($25/share) were taken away from me, and that I felt basically Forced into Converting to Cenovus..... You can imagine that my TRUST in the "system" and the process is very low at this moment.
Yields on these Preferreds are still high. If before I knew for 100% that on Jan 1 the convertion would be automatic and instantaneous, seamless, without interuption.....I would be probably still holding (still New Strain of Covid to play out). People telling me it will be automatic and seamless...it's probably TRUE, but I can wait to be 100% certain. Jan 1 not too far away.
rad10 wrote: Raging - trading costs go beyond the 4.99 brokerage fee. Look at the significant spread on the preferred issues. The wide spreads on Canadian preferred issues can make for great bargains, but also make flipping inadvisable.
cheers. Rad10