Wednesday, October 8, 2008

Missed It By That Much

My recent perusing of posts from earlier this year showed that even a knowledgeable, yet negative, pundit such as myself misjudged just how serious the bank situation was. I never thought that we would get to the point where preferred dividends suspensions and FDIC seizures would be commonplace. Alas, we have fell into the depths of despair. It will be difficult for me to ever suggest preferreds again. Stay far away, especially non-cumulative preferreds.

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