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<p>[QUOTE=&quot;medoraman, post: 1309059, member: 26302&quot;]Those are weird animals. They are a cross between bonds and stocks. They are (strictly speaking), USUALLY less safe than the company&#039;s bonds but slightly more safe than the stock. However, there are myriad ways to structure them, so that answer is not always true. This lack of uniformity is a major reason they are not issued as much as they used to be. Unless you know the specifics of them, I would be nervous about investing in them since you aren&#039;t positive what you got. Personally, I do not own any preferred shares, preferring to own straight common equity or bonds.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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