RE:RE:RE:RE:Stronger $ US I bought TD stock during the covid recession Feb-Apr 2022. Dropped from $78 and I bought for $49.50.
Divy at that time was .79/qtr or 6.4% per year. Very happy.
Happier when I sold at $107.10 Still hanging on for a lower price.
bttmfischer wrote: I agree with you again. During the last recession about 20 years ago I bought bank preferreds at 50 percent of face value. Once things got going the Bank called them, and I made close to 85k. Since the preferred were called in, there was no commission. Nice.
Anyway I also had some TD preferreds,which I held for 5 years, collecting the nominal 4.7% dividends, and since I bought them on a stink bid the effective interest was more like 6.6%.
So if this recession is going to be for over 5 years, picking up bank preferreds is a way to go,
I think so anyway.
Mind you, nowdays many of thos are reset preferreds, so you have to look at them closely.