22thoroughbred

Fixed Income: Little Value in Treasuries, Preferred Financials Yielding 8%

I have been building a portfolio of financial preferreds for about 3 months, the avg. cost in my portfolio is just under $17 and all were issued at $25, the yield on the portfolio at my cost is 9.97%, I allocate a specific dollar amount into each name, if I have 2 defaults my cost basis (assuming I sell 2 positions at zero) would be $19.02.