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loj04 (81.41)

Get a Piece of the TARP? PGF?

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January 06, 2009 – Comments (0) | RELATED TICKERS: PGF

I'm a pretty new investor, but I found something I REALLY like, and I would like to shoot it past the CAPS community. Financial Preferred Shares (PGF). Yielding >12% at these prices, it seems like a steal right now since it seems that the world governments won't allow any more large banking institutions to fail. Expecting this, take a look at the list here:

http://www.invescopowershares.com/products/holdings.aspx?ticker=PGF

I expect equities to trade sideways for a long time. Hence, I'm not looking for apreciation of these preferred shares, but rather strictly the yield. Even if banks are forced to suspend dividends, preferred shares build a backlong of dividends they must pay. 

What do you think?

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