With the selloff yesterday in most equity markets and todays weakness it is a good time to add a few shares here and there when they fall. Don’t get carried away, but a little here and a little there.
This morning I added a few more shares of the AllianzGI Convertible Income Fund 5.625% perpetual preferred (NCV-A) which is now down $1.30 on the day trading around $23.50.
I am going to stay away from mREITs and Lodging REITs for now. This is obviously where the big gain potentials lie–but if they go broke there won’t be any gains at all. I bought some shares in mREIT New Residential 7.125% perpetual (NRZ-B) a day or two ago–but I could have bought it cheaper today–itchy trigger finger I guess.
I await ‘good news’ on the Covid 19 crisis before getting carried away and while I am slowing buying there is no use buying up dry powder until we can guess some good news ahead–and honestly there hasn’t been much good news, but we can reliably predict deep pain ahead.