HIMIPref™ Preferred Indices: November 2008

HIMI Index Values 2008-11-28
These values reflect the December 2008 Revision
Index Closing Value (Total Return) Issues Mean Credit Quality Median YTW Median DTW Median Daily Trading Mean Current Yield
Ratchet 1,030.3 1 2.00 6.92% 14.0 32M 6.37%
FixedFloater 1,483.5 7 2.00 6.98% 13.7 52M 6.62%
Floater 735.2 2 2.00 10.29% 9.2 47M 10.11%
OpRet 1,930.0 14 1.30 4.98% 4.1 126M 5.50%
SplitShare 1,485.7 15 2.00 14.84% 3.5 59M 7.44%
Interest-Bearing 1,800.2 3 2.00 20.87% 4.5 60M 9.15%
Perpetual-Premium 1,325.9 0 N/A N/A N/A N/A N/A
Perpetual-Discount 1,221.1 71 1.24 8.14% 11.3 186M 7.99%
FixedReset 1,722.5 15 1.07 5.64% 14.2 639M 6.11%

For Index Revisions during November 2008, see the post HIMIPref™ Index Rebalancing: November 2008.

Publication of index details is embargoed for six months following index date.

2 Responses to “HIMIPref™ Preferred Indices: November 2008”

  1. pugwash says:

    Happy New Year Mr Hymas.

    Earlier this year I became fed up with paying so much tax on my GICs and I grumbled when I bought yet another in April – my discount broker suggested a National Bank pref new issue (“a bit like a GIC but it pays the interest as it goes along and you might make a capital gain and there is less tax”) – so as a complete innocent I invested.

    Of course after I invested I did my diligence (at least I did some) and discovered first prefinfo, then prefblog and finaly became a prefletter subscriber.

    As a newly initiated Assiduous Reader – from May onwards, I each month dutifully invested in one reccomended issue.

    I soon discovered that these Pref things could go down – a long way down in the case of BAM op rets!

    Split shares, what spectacular yields – then the swoon – thank goodness for the retraction option – this was the turning point – I was amazed to get $9.60 back for each of my WFS.PR.As! This was very interesting. Way more than I paid. Thanks Mr Hymas for highlighting the emergency exit! ( I also got a great deal retracting the WFS.As that I sort of bought by mistake/experimentation).

    The last few days have made this newb AR pleased – the steady trickle of dividends, the improved prices (go SLF go) and the reduced need to explain to my significant other what I am doing on the computer each evening.
    Happy new year Mr H and all other ARs


  2. jiHymas says:

    Thanks very much, pugwash! It’s been a grim year … and even after the amazing post-tax-loss turnaround this month, we’re still down a lot on the quarter … but I’m happy to hear PrefLetter has been helpful.

    Hell, given that year we’ve had, I’m happy just to have a subscriber who doesn’t want to throw rocks at me!

    One day, I hope to come up with a rock-solid explanation of BAM’s performance … but maybe not this week!

    Happy New Year!

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