Format of PrefLetter: Page 3

Useful Articles

Are Floating Prefs Money Market Vehicles?

How Long is Forever?

A Call, too, Harms

Cosed-End Preferred Funds: Effects of Calls

The third page of PrefLetter is commentary on the issues highlighted in the table on page 2. Each paragraph consists of (at least!) three parts:

There are some terms occasionally used on this page to describe SplitShare Corporations that might be unfamiliar to some readers:

One page is not a lot of space for all this explanation, so the detailed look at the monthly recommendations continues on page 4.