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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend -- Ignore unavailable to you. Want to Upgrade?

To: shoe who wrote (2156)	8/16/2001 4:15:55 PM
From: zebraspot	Respond to of 2561

FWIW, I think most preferreds now have more downside risk than upside potential. I have been long these for a couple years or more(buying lots back when the Hicks, Muse/Walden Residential raw deal knocked the stuffing out of them), and have recently been taking sizable profits. At 8-9% current yields, there are just better places to be (such as, small cap value stocks, like CNXS, where one still has a 2 or 3x intermediate term upside versus little downside(left). I am still very much concerned, too, about another Hicks, Muse/Walden deal coming along, and knocking preferreds back down into the teens again -- there's at least a 10-20% likelihood of such an event over the next year or so, IMO.