The markets have closed and the September edition of PrefLetter is now being prepared.
PrefLetter is the monthly newsletter recommending individual issues of preferred shares to subscribers. There is at least one recommendation from every major type of preferred share; the recommendations are taylored for “buy-and-hold” investors.
PrefLetter is being expanded commencing this month! Two additional classes of recommendation will be included::
- Fixed-Reset: My disdain for Fixed-Reset issues as currently priced is well known, but some people like them! Clearly, some of these issues will be better investment choices than others. Now that the asset class has been added to HIMIPref™, a recommendation from this class of preferred share will be included with the other recommendations.
- Short-Term: I do not usually recommend short-term issues for preferred share portfolios, due in part to the fact that the relatively low level of price volatility gives little opportunity for trading; also due to the idea that the recommendations are for long-term buy-and-hold investors. However, there is public demand for short-term issues. While I will not create a specific asset class for these issues, I will henceforth recommend at least one issue from the combined OpRet / SplitShare indices that would otherwise be ineligible for recommendation due to shortness of term. Note that by “short-term”, I generally mean (as is usual in the bond world) “less than five years”.
There is still time to enter the contest to win a PrefLetter!
The September issue will be eMailed to clients and available for single-issue purchase with immediate delivery prior to the opening bell on Monday. I will write another post on the weekend advising when the new issue has been uploaded to the server … so watch this space carefully if you intend to order “Next Issue” or “Previous Issue”!