PrefLetter October 2008 Update Now in Preparation!

The markets have closed and the Update to the October edition of PrefLetter is now being prepared. I noted in the notice that the October edition had been released that there would be an update … and it’s almost on its way.

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 (two of them recently added); the recommendations are taylored for “buy-and-hold” investors.

The Update to the October issue will be eMailed to clients and available for single-issue purchase with immediate delivery prior to the opening on Monday 20th. After sending the update to clients, I will:

  • write a post advising that it has been sent
  • attach it to the October issue so that future “previous issue” buyers will receive it as well

Assiduous Readers will recall that October 10, the scheduled date of preparation for the October edition, was a catastrophic day for PerpetualDiscounts – and other types, notably SplitShares – with bid/offer spreads and relationships between issues at, shall we say, highly unusual levels. The market has become somewhat more rational in the four trading days since, gaining 4.27% on the week. This does not completely erase October 10’ths 5.05% loss, but the main thing is that the market is more internally consistent.

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