Fugi Joe

Preferred Stocks Get Crushed

Merrill's Series 8 preferred should be bought up to 20. The first dividend is scheduled for the end of August. They should declare the preferred dividends within the next couple weeks. The preferred has declined more than the common recently. It is a temporary aberration that will be corrected soon. The yield is now close to 12% and it qualifies for the 15% tax rate. The fear mongers are inducing a panic. Earnings Thursday!