Doug Le Du Shutting Down His Services

Long time publisher Doug Le Du is shutting down his various preferred stock and baby bond services. No particular reason was given for shutting them down.

This, of course, will reduce options for folks to research and discover income issues.

At this time Doug is offering his book “Preferred Stock Investing” 5th edition for free in ebook format. It is a basic book–for me not too helpful, but for some newer investors maybe it would be helpful–plus the price is right.

You can go here for a download if desired.

31 thoughts on “Doug Le Du Shutting Down His Services”

  1. I am sad to see Doug’s cdx3 service go. I hope that someone steps in and keeps it going. Does anyone else know of a service which collates in one place all these data points about the current universe of pfds and etds:

    – IPO Date
    – Symbol
    – Preferred Stock Name
    – Dividend Rate
    – CUSIP
    – Last Price (with link to MarketWatch chart)
    – Volume
    – Yield (Current, YTC, EAR)
    – Ex-Div Date
    – Call Date / Maturity Date
    – Liquid Price
    – Credit Rating (Moody’s / S&P)
    – Exchange
    – Prospectus (link)
    – Status (blank, QDI, Deferred, Called)

    I ask this *not* to challenge, but sincerely: I am relatively new to Preferreds (2012), and I honestly don’t know where I can find such a resource.

      1. Tim, perhaps you missed my earlier question…. on the YTW calculation in your Google sheets, does it not assume reinvestment of dividends? I ask because the values in your sheets are consistently lower than Doug’s YTC and I believe his calculation does assume reinvestment of dividends/interest.

        1. rk160–sorry I missed it. Yes they are always lower by 1% (+/-). Eventually I will change that–but the calculation to get it exact is too intense for google sheets–it just sits and spins. My plan is to totally do a new database when my ‘real job’ slows/ends, but it is a costly and time consuming change—given that I earn 0 off the site I have to cut corners where I can.

          I think I will put a note on the page indicating this item.

          1. Thank you Tim, and I will add my voice that I would be willing to pay (or make a contribution) for access to your data base. I know you have costs involved.

            1. Thanks rk–I have plans that will include a little donation–but until I can give it my full attention I can’t do anything.

  2. Has anyone offered to take over his database?
    Obviously, with the churn of issues is this low interest rate environment, the data will predictably become stale as new issues come on the market and old issues are redeemed

  3. Too bad about Doug as he seemed like a great person and a real asset to the hobby. Any time someone leaves, we always feel it, directly or indirectly as the pool of the good people shrinks. Here’s the best to Doug.

    1. I agree, he got me started down a good track. The early notice service was very useful to me as I was building my initial portfolio but since US yields dropped so far I’ve not spent much time over on his board. His database was very useful.

  4. I made comments about Doug LeDu on the Reader Alert section of this site recently.
    I want to add that I believe he basically was a statistician. That was his forte. And he was one of the best I’ve seen apply his abilities to formatting an excellent source of data re preferreds.
    On the other hand, I never felt that he had the experience in actually investing in preferreds that some have who write about them – mainly Tim.
    In one of Doug’s earlier editions he mentioned his father’s interest in preferred stock investing as a traditional preferred stock investor, I liked that because that’s what I am – a traditional preferred stock investor not a pinball wizard or Ken Winans technical signal preferred investor.
    However everyone sees things differently, has different goals needs, etc. with their investing so I have no problem with different perspectives and enjoy reading about them even if they don’t work for me.
    I tried googleing Doug several times to learn more about him but was unable to find out much. I think he may have worked as a non accountant for a Big 6, Big 4, Big 2 or whatever firm and perhaps lost his job or retired from it and then decided to get in the preferred stock information business. My cousin was in a similar situation the last time the Texas economy blew up, My cousin lives in Dallas.
    But I want to stress again that he had real abilities at presenting data in a useful fashion thru his data base and I thank him and salute him for the work that he did.

  5. On this thread, I’m starting to see some of the invective that has permeated Seeking Alpha.

    I can’t see any connection between Ken Lewis, Angelo Mozilo, Countrywide, B o A, and Doug Le Du’s now defunct column.

    Let’s keep the postings informative and constructive, folks. Take your knives, sticks and torches someplace else.

    Thanks.

  6. Man, I didn’t even know about that preferred search engine. I would have gladly paid for it. I hope someone carries the torch on that. Would be sad to see all that IP go into the waste bin.

    1. Landlord–if I could get rid of this ‘real job’ my plan is to eventially move to a similar system–of course I have said that for a couple years now.

      1. Tim, here is the plan:

        1) Tim takes a poll to see how many current Innovate Income Investor readers would pay $X annually for an upgraded search engine.

        2) Tim calculates how many paying subscribers it would take to replace his other income and do this full time

        3) Tim takes the leap, retires from his other job, does III full time.

        4) Only hangup might be Mrs Tim, who might not approve of the plan. I am hearing many stories of unhappy spouses due to both being at home full time.

        1. I would advise anybody thinking of running an investment site like this full time to correspond with Blue, who has run Investor Village for years and who can tell you a lot about what it’s like, warts and all.

          JMO

          1. camroc–yes I suspect it isn’t what it may appear to be. Part of the reason I don’t do subscription is that I don’t have to be ‘perfect’. Unless I could devote 10 hours a day to it I wouldn’t consider it.

        2. Tex–haha–you are right about Mrs Tim. She went from a mid level management job at General Mills to now being a helper at our local Catholic elementary school–talk about a pay cut and she isn’t drawing her Social Security because I pay her too much to help me.

          On the other hand it isn’t too much about the money–for 14 years I have come out of pocket. Of course my old site had advertising and when I sold it I recaptured my investment many times over.

          1. Tim, you run the unchallenged best preferred investment site on the web, and your loyal users will contribute when you are ready to dial back your appraisal business.

  7. I bought Doug’s book a number of years ago and it has really good material for anyone that is newer to preferreds and baby bonds. I’m sure readers on this site would find it helpful reading material.

      1. I am still a current subscriber to Le Du’s service mainly for his “ENGINE” able to monitor some 260+ preferreds and baby bond positions (most of time with dividend info, Ex Div date plus prior dividend history [actually the lady who works for him using Yahoo feed missed a whole bunch of divvies, e.g. SLMNP (Gridbird’s) or even old RLJ-A. Sometimes, Fidelity.com was kind to give DIVIDEND info. I always made a print file on WORD and try to insert some useful info. Like many in your WEBSITE said, many including me will be happy to donate money for your WEB site, which is substantially superior to Doug’s. He made the claim that his picks never lost any money, mainly because the crook Bank of America CEO bought the entire crook Countrywide Financial. Apparently that prevents SEC tracing how the BAC CEO got away by stealing hundreds of millions of dollars. Obama and his not so honest Treasury chief (who forgot to report his income tax) decided NOT to pursue the thief. Yes. His book was overly simplistic. I liked Cash Is King by Simon Wadsworth much better.

        1. Bank of America CEO Ken Lewis was one of the biggest banksters on Wall St….along with Angelo Mozilo, the sub-prime snake oil salesman from Countrywide. Both those frauds deserved criminal prosecutions, not tax-payer funded golden parachutes. Not much has changed since then either…just this week reports show over 500 JPMorgan employees applied for and received PPP funds designed to keep small businesses from going under during the pandemic. The US banking system is rotten to the core.

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