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      04-20-2009, 08:35 AM   #21
My master volume goes to 11
dogears's Avatar

Drives: 2009 Space Gray M3 Sedan M-DCT
Join Date: Dec 2008
Location: Cherry Hill, NJ

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Been snapping up the trust preferreds issued by some of the financials. Also, some of the midstream pipeline stocks (ship has sailed on most). On the low side you get 9%, on the high side 16%. Problem is that many have appreciated dramitically in the last month. I was buying them all along though. For instance Merrill ( MER-PM) moved from the 8s to the 11s. It is still paying almost 14%. Citi (C-PZ) is still paying around 16%. It moved from the 8s as well. Both were even lower in Feb.

Point is if you are going to gamble, this for me is a far more sure thing bet than the plan.

Before anyone argues with the safety of these, I have to add that I have been doing this for a living for 17 years and have successfully beein income investing all along.

The beauty is that you not only get the interest payments, but at these depressed prices you are virtually certain to get significant appreciation as well.

A couple months ago I recommended the Bank America trust preferred on another thread at 11 a share with a 14-15% yield. It is now 15..... (edit: back in high 13s)

Originally Posted by aus View Post
Where can I invest at 14%?
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Last edited by dogears; 04-20-2009 at 11:54 AM.