| HIMI Index Values 2008-11-28 These values reflect the December 2008 Revision |
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| 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.
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
pugwash
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!