Despite High Yields, Investors Overlook Preferred Stock

As Wall Street has expanded its offering to new exotic instruments over the past few decades, one share class has been left behind by the market. Preferred shares used to be one of the most popular ways to invest in a company, thanks to their higher than average and usually guaranteed income stream. Indeed, Warren Buffett has used preferred stock classes to achieve the best returns for himself and shareholders of Berkshire Hathaway numerous times, but the rest of Wall Street seems to have forgotten about this non-traditional share class. [buffett] Despite High Yields, Investors Overlook preferred shares   In…