*Investors Blog*
- Thread starter Warstud
- Start date
and giggles.
I know it's not much in the big picture, but considering I'm doing this all on my own (and I'm limited to funds only) I'm fairly pleased with myself. 
Bought 3000 more BACPRB pre yesterday exdivi
I assume you're doing this for dividend income?
Too big to fail!
Seriously yes. I may eventually work up to a million/ 40K shares if it backs off. I don't mind waiting a quarter if I buy slightly under par - kinda dead money in an odd way of looking at the last buy until dividend pay out. But it's working out get paid 8/16
I've posted this before, but I bought big into preferreds Mar 2020. BACPRB was near the top of the heap, my ave share cost is still about $23
So right now my yield is about 6.5%. Pretty safe in the scheme of things.
For the record, Fidelity is screwed up on the dividend details for:
Bank of America Corp., 6.00% Dep Shares Non-Cumulative Preferred Stock Series GG
Ticker Symbol: BAC-B CUSIP: 060505229 Exchange: NYSE
https://www.quantumonline.com/search.cfm?tickersymbol=BAC-B&sopt=symbol
___________________________________________________________________________________________________________________
The only other preferreds I hold are:
WRBPRE
WFCPRL
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I have a few shares I bought in the depths of April at a bit below par. I would rather hold big bank prefereds at 6% over a 10 UST at 4.2%. If everything goes into the toilet were all going with it - including the treasury.
I will likely sell it sooner than later though. My opinion on long term rates is there going up.
Cut in Sept, maybe!
Yes, could happen. Cut to 1% in 9 months either way - Powell's term is up. Treasury wants low rates so they can issue only bills.
So what do you think that does to the long end?
Less inversion!
Yes. Much steeper is less inverted for sure.
I don’t think we’re inverted now except the very short end?
We haven’t been for a little while now
I always feel like a another credit crises is right around the corner
Maybe. But they just spent $2.1B to upgrade the printing press in the Eccles building, so they will quickly go from too few dollars to too many.
My 6.3% Agency bonds are being called
If I may ask, how much term was left on them - approximately?
CUSIP: 3133EREJ6
Description: FEDERAL FARM CR BKS BOND 6.30000% 05/14/2049
Rate: 6.300%
Maturity Date: 2049-05-14
Thanks.
So clearly the GSE's which must have Treasury / Fed on speed-dial feels that 6.3% on the 20 year is too high long term.
Little youngins need to learn how to trade and NOT waste time on trash social media / TV / TikTok.
