You wrote, "Clowns here trying to deceive readers. BAC offer is shameful. "
Do you have any facts to support these opinions? Or do you just enjoy spewing vitriol everywhere you go?
Also, "Low market price of BAC preferreds reflects what crap BAC preferreds actually are."
Now we've already been through this exercise. Must we repeat it?
If the market is so smart, why is it so often wrong?
No, a low price indicates that the market at the moment *** thinks *** the stock is crap. The market price is based on limited information and emotional and irrational responses. If the market really knew everything there was to know about a stock, there would be very little volatility in its price - it would only occasionally change price as major fundamental events occurred that changed the issue's future prospects - it wouldn't change based solely on rumors.
Claiming that the stock is crap because the price is low is circular logic ... which is always illogical. Your statement is asking us to believe a statement such as this - "The price is low because the preferred is nearly worthless (crap); but the preferred is nearly worthless (crap) because the stock price is low." If you can't see the problem with that statement, I'm clearly not going to be able to convince you of anything using a logical, rational argument.
Finally let's revisit your statement, "Clowns here trying to deceive readers."
Facts? You should know that IPO preferreds sell in increments of $25, $50 and $100. The market place rules, and the market dropped the price of BAC preferreds because of high risk that BAC will suspend payments for up to 5 years. Preferreds, as we know, are not CD's. Enjoy your windfall, while the IPO purchasers get screwed. By the way, it is not necessary to compulsively tell every thread author what they have posted.
this made it all the way down to six buck so i guess the market is almost 300% more pleased. i like the div. and won't sell until i get a 25 call whenever that may be. until then i'l take my 17% yeild all day long.