Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Phil, I did forget to say this...Ask your broker why he would dump a 5.5% issue on you when you can get another Wells issue that is right at 6%. If you want a fixed preferred from Wells and want best yield, you have to buy WFC-L. Its about 6%.... And on same priority as the others..It is a $1000 institutional one and misunderstood... Yes, it $250 over par, past call etc. But that means nothing!!! Wells common stock has to be around $200 before a forced conversion can occur. And you would come out ok on that also as its a conversion to common call, not a regular call. Dont hold your breath for that to happen anytime as it trades about $60 or so doesnt it?
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