Adding to My PowerShares Financial Preferred Portfolio ETF Position

| About: PowerShares Financial (PGF)

Yesterday, I added to my position in PowerShares Financial Preferred Portfolio ETF (NYSEARCA:PGF).

Financials are getting priced for another Armageddon. Some predict complete breakdown of eurozone, some even think that end of EU is nigh. Ain't gonna happen. EU and eurozone will be here tomorrow, a month later and a year later. With all its problems, with all the trade unions pressure and riots and other problems, the majority of the population in EU countries understand that without the EU their countries are in much worse shape. They will keep it whole.

I'm holding PGF as a way of cash management. With an 8% yield, paid monthly, it's a great tool to hold your cash. The price of PGF shares in normal times is close to $25, which is a usual buyout price of preferred shares of banks. So when I have some extra cash and have no idea what to do with it, I buy PGF or something similar.