A potential investor in MAPF writes in and says: I wonder if you could answer a few questions for me. I should start by saying that I am far from being an accountant. I would …
Search Results for: performance
February 5, 2010
BofA / Merrill Lynch Plot Thickens! When Bank of America Corp.’s board met to approve the acquisition of an investment bank on Sept. 15, 2008, members thought they were going to buy Lehman Brothers Holdings …
February 4, 2010
Deutsche Bank is using the compensation hysteria to put golden handcuffs on the peons: A significant proportion of compensation will, where applicable, be deferred. Deferred compensation will be a combination of restricted equity awards (75%) …
February 3, 2010
In yet another example of PrefBlog’s trendsetting nature, Citigroup has started a blog. The market responded to my deprecating remarks about FixedResets by selling off PerpetualDiscounts, which lost 28bp on the day and buying FixedResets, …
James Hymas Interviewed by Globe & Mail
A very nice piece by John Heinzl in today’s Globe: An Investor with a Preference for Preferreds. Update: Finally got a heckler in the Globe’s comments section! An individual who was too ashamed to sign …
February 2, 2010
Paul Krugman writes an op-ed in the New York Times, Good and Boring, lauding the resilience of Canadian banks: Canada has an independent Financial Consumer Agency, and it has sharply restricted subprime-type lending. Above all, …
MAPF Portfolio Composition: January 2010
Turnover stayed constant in January at about 40%. This is yet another indication that things are slowly returning to normal – although I still think that spreads to bonds are elevated! Trades were, as ever, …
February 1, 2010
Comrade Peace-Prize wants to make the Build America programme permanent: Obama will propose expanding the eligibility of the bonds to include original financing for capital projects when he submits his 2011 budget to Congress tomorrow, …
Best & Worst Performers: January 2010
These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices. January 2010 Issue Index DBRS Rating …
January 29, 2010
That’s a wrap! The Canadian preferred share market closed the month on a sour note, with PerpetualDiscounts down 13bp and FixedResets losing 6bp on a well-behaved day with only one entry in the performance highlights …