{"id":1721,"date":"2008-01-22T01:15:55","date_gmt":"2008-01-22T05:15:55","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1721"},"modified":"2008-01-22T01:15:55","modified_gmt":"2008-01-22T05:15:55","slug":"research-when-will-preferreds-recover","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1721","title":{"rendered":"Research: When Will Preferreds Recover?"},"content":{"rendered":"<p>2007 was a rotten year for preferreds. In the January, 2008, edition of <a href=\"http:\/\/www.canadianmoneysaver.ca\">Canadian Moneysaver<\/a>, I attempted to explain why.<\/p>\n<p>Look for the research link!<\/p>\n<div align=\"center\"><a href=\"http:\/\/www.himivest.com\/media\/moneysaver_0801.pdf\"><img decoding=\"async\" src=\"http:\/\/www.prefblog.com\/images\/ad_Review2007.jpg\" \/><\/a><\/div>\n<p><!--908073f9a71f457221c72e44f6674b50--><\/p>\n<p><strong>Update, 2008-2-19<\/strong>: In the article I indicated my amusement at the mention of preferred shares in the BMO annual report:<\/p>\n<blockquote><p>It is noteworthy that BMO revealed a charge of \u201c$160 million in respect of trading and structured-credit related positions and preferred shares\u201d \u2013 surely one of the few times that preferred share trading has been mentioned as a significant element of a Canadian bank\u2019s profitability!<\/p><\/blockquote>\n<p>BMO has <a href=\"http:\/\/www2.bmo.com\/news\/article\/0,1083,contentCode-7397_divId-3_langId-1_navCode-212,00.html\">just announced another writedown<\/a> including:<\/p>\n<blockquote><p>Trading and structured credit-related positions, preferred shares, third party Canadian conduits and other mark to market losses, approximately $175 million pre-tax.<\/p><\/blockquote>\n<p>Those durn preferred shares, eh?<!--aa3104f2aeb1614e7cb090bd9a18d047--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2007 was a rotten year for preferreds. In the January, 2008, edition of Canadian Moneysaver, I attempted to explain why. Look for the research link! Update, 2008-2-19: In the article I indicated my amusement at &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-1721","post","type-post","status-publish","format-standard","hentry","category-publications"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1721"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1721\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}