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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (33789)3/12/2009 3:36:00 PM
From: E_K_S  Read Replies (1) of 78748
 
Cheap Preferred Shares Lure Speculators After Losses (Update2)
bloomberg.com

From the article:"...Record declines in preferred shares are enticing speculators, who say the securities are so cheap they will turn a profit even if company default rates exceed those of the Great Depression.

Perpetual preferred stocks, whose fixed dividends mean they trade like bonds, have lost 43 percent this year, compared with the 20 percent drop in the Standard & Poor’s 500 Index since Dec. 31, data compiled by Merrill Lynch & Co. and Bloomberg show. Since March 9, an exchange-traded fund that mimics a basket of preferred shares issued by banks rallied 28 percent, poised for the biggest weekly advance since its creation in December 2006...."
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