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Strategies & Market Trends : Value Investing

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To: Dale Baker who wrote (17032)	5/12/2003 9:52:57 AM
From: Grommit	Read Replies (1) of 78748

preferred -- I just did another review of preferred stocks last week. To reposition my holdings. I noticed that a lot of preferred stocks have had a run upwards. No doubt it's because interest rates are now viewed as not going up for awhile. I'm having trouble finding preferred stocks selling at a discount to redemption value. Your FMT is at a discount, and the redemption date is past years ago, so that one looks like it won't be redeemed. But if it does, you'd collect a small premium. (FYI - I don't care for their sub prime lending business, but haven't looked closely at the company). One that is still a good discount is PKS preferred. finance.yahoo.com I think it was around $17-$18 when this was posted. Message 18685678 It's now at $20.7 But even at $20.7, the dividend yield is 8.7%, and it is mandatory redeemable in 2009 at $25. If redeemed, that brings the yield up to over 12%. I bought some more last week. And I also bought HIW-d at a discount. Dividend yield 8.3%, but it may not be redeemed. If it is, it will be a gain and not a loss, because of the discount. Other stocks discussed here and at that link: finance.yahoo.com regards, grommit

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