Hi Bernie, Many times in the past when I've had some sort of redemption or buy-out I've taken the original investment value and put it into high yield bond funds and used the after-tax profits to start a new investment. In your case, you could just keep the after-tax profits running in the same investment if you desire.
Following this path has let me painlessly build up the income portion of my portfolio while continuing the growth side's building as well.
Good news today from the Biotech Sector. The IBB Exchange Traded Fund rose enough this AM to trip my very first AIM directed Sale since starting the account 16 weeks ago. The brief history is shown at: http://www.investorshub.com/boards/read_msg.asp?message_id=460197 We started that account with about 32% Cash Reserve which proved to be just enough to buy down as the price fell after the initial purchase. It's nice to see some of that money return to the Cash Register.
you wrote: As you know I have been converting most of my HR cash reserve to HR-A which is their preferred stock that pays a nice 8.78% dividend. Yesterday HR announced that they are going to redeem the preferred stock.
I was going to write you would have been better off having the money in HR instead of the prefered as HR at the CURRENT dividend rate is paying 7.6% and it has gone up a lot as apposed to the prefered which hasn't.
Then I read your post again and realized you were using the prefered instead of a Money Market fund for AIMing.That was a neat idea.
I guess you could use some other REITS prefered stock. Bond funds (like ACG)wouldn't be as stable in price.
Toofuzzy
Take the road less traveled. It will make all the difference.
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