Lmao yikes. I’m glad I never told people to convert common to preferred. I think the worst I ever said was to hedge the value of your common position with preferred as insurance. I think I stopped saying that when preferred were trading above 8% of face value. I’m still quite happy with getting 20x return on preferred position overall even though I’m probably at 20x common position already and it’s likely to hit 80x in the near future.
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