Pretty amazing to now read 10,000+ posts in this topic.
You read them all?
Almost. CoBF is my most valuable "paper" every day.
What are your thoughts? Personally, I think the preferred should be trading in the mid teens. Even a 66% upside to par ($15 for a $25 par) seems absurd given the current constraints involved. Seems a combination of ignored, hated, misunderstood, and frankly most of the buyers have already bought multiple dips over the years leaving more sellers (due to timing, liquidations) than buyers. This is exactly the type of investment I look for as a contrarian investor looking for systemic edges.