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Non-Tech : Income Investing
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To: Privately who wrote (51951)8/21/2025 6:06:28 PM
From: Privately3 Recommendations

Recommended By
brehm233
Jerrymac
JSB

   of 52048
 
Re: the MBIN pfds

FWIW - They are bit riskier than other banks, but I play with modest amounts of them in my higher risk bucket. I am actually happy that they took the loan reserves. stupid that they got defrauded (hopefully they are tightening up their processes) but better than trying to hide them or make excuses.

Lots of price volatility in their shares means that they are good for flipping for a buck or two per share, sometimes several times a year. I did a back of the envelope calculation last year and I had made more flipping various MBIN preferred shares over the previous couple of years than the redemption value of the shares, plus I have picked up some nice divi's. Nice little money makers but I don't view them as a "buy and hold".

I flipped their MBINO and P shares for years and managed to get out before they were redeemed (they were often trading well above redemption value) because I stumbled upon a post (either on this board on Tim's site) where someone had found in a new offering prospectus that the proceeds from that offering would be used to redeem the shares - way before the redemption notices went out. Proof once again that it is better to be lucky than good.
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