I recycled some of my equity portfolio into Natwest preference shares. Out of the frying pan, into the microwave oven?
The Investor
Preference shares offer a fixed income like corporate bonds, but with fewer of their safety features.
Did you buy bank preference shares when the market was giving them away? Me neither. What an incredible opportunity it was.
Charlie Munger is a genius, and you should read everything he write. Time leftover? Read me! Even more free time? Read these other great posts.