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preferred shares and bonds

I am an investment advisor, so I won't recommend a specific issue, but the yields on the Canadian Bank preferred shares and Tier one and two debt are spectacular.

Read my blog posting on www.beyondfunds.ca. It will give you a bit more detail.
 

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Some of my holdings:
BNA.PR.C
BAM.PR.J
BAM.PR.K
ELF.PR.F
MFC.PR.D
PWF.PR.K
YPG.PR.B

I believe we experienced a once-in-a-generation opportunity to pick up prefs at incredibly attractive yields...a window of opportunity that may be disappearing - with the apparent unwinding of the credit crisis and the fact that the financial institutions may be back to profitability, high quality preferred shares are retreating back to their normal credit spreads. There are still bargains out there, but not as obvious as during Nov / March :(.
 

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I get confused about all the termenology and features for prefered shares. A friend suggested an EFT from Claymore with the ticker CPD. Anybody have an opinion on that fund?
 

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I get confused about all the termenology and features for prefered shares. A friend suggested an EFT from Claymore with the ticker CPD. Anybody have an opinion on that fund?
Just quickly going over the summary (http://www.claymoreinvestments.ca/etf/fund/cpd) it seems that is has a 0.45% MER and covers the TSX preferred share index (mostly financials). For an ETF, it's a bit on the expensive side, but a great way to get broad exposure to preferred shares if you're not inclined to purchase them individually.
 
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