Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Good comment re: PFF. It describes what I want and am willing/able to do. They are in the process of changing their index (see? I do a little homework!)
I think of it as an easy and fun way to pretend to be in the preferred market without huge risk. I’ll watch/read what the varsity does.
Just me, Steelyman, the problem isnt so much the fund, its the damn index’s the various preferreds follow by their design. The companies that set these indexes drop and add without rhyme or reason. And not for portfolio improvement, mostly for liquidity purposes. So then the funds always have to dump and buy..When they dump...They dump and they sell at below normal prices because of the sell imbalance. And when they buy they drive the price up paying more than they should to get all the shares.
Its all a very inefficient process.
In fact there is a little cottage industry of individuals profiting by buying dumps and also selling the ones that spike on buys.
I even did this with NGHCN. It was getting dumped and I bought. I dont even like the company but its up almost 50 cents since I recently bought. I dont trust these people but the common stock is doing good, so I will be patient and hold a while.