"..be aware that preferred stock dividends are paid at the discretion of the company. Thus, preferred stock dividends could be deferred in times of financial distress -- just when you need the dividends the most"
"The bottom line is that preferred shares' high yields aren't sufficient to justify investing in preferred stocks. If you want or need more risk than safe fixed income investments offer, take your risks on the common stock side where you can control them more effectively, diversify them more effectively and earn the risk premium in a more tax-efficient manner. And your costs for bonds will also be lower."
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