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Income Investing
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Re: Wells Fargo 6% notes You certainly can disagree with me. I still won't buy them. But you can and I wish you well with them
b&w --------------------------------------------------------------------------------------------------------- In the beginning, when I started with Preferreds and ETD's, I had (back in the 2008-9 era) maybe 75% of our portfolios in these issues. Memory tells me that it was rather easy to buy a really good company and receive 5% to 6% and often the price increased. I can remember selling many issues when suddenly I found that I had a profit equal to a full years income. Seems to me now that really good companies can borrow money and pay just a few percent and so good quality issues appear to me fewer and far between. There are some exceptions. CHS issues for example were bought by me and by many before they made it to the NYSE and they have gone easily over Par. Some other issues have done the same and from time to time silly things happen to Preferred prices and generate opportunities. But these days rather than check the quality of issues from companies not known to me I buy most of my Preferreds thru Closed End Funds and thru Exchange Traded Funds. But like Utilities and other interest sensitive investments, with rates having on ly one direction to go and that is Up one must be careful. So my disagreement is not total....only partial. But then investing is like life itself, different people see things differently when looking thru the looking glass. That is after all quite normal. Regards from Orchid |
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