I have returned to home and finally to a semblance of health to find my Prefs and PIBS still marching relentlessly up.
Having already unloaded my Skipton 12 and a bit I have now sold SAN. I think CVBP is next.
I have reinvested in ordinary shares that were at much more reasonable levels (ie) BP BLND LLOY and even GFRD. So far I have actually increased the pay out as there was so much surplus capital tied up in the prefs/PiBS.
Time will tell if this turns out to be a blunder. I still have Newcastle and Notts PIBS - the latter is not that over priced. Pref wise I still have LLPC AV 8 3/4 & also 8 3/8 NWBD NTEA SANB and BBYB.
If I can find more shares which will pay the same or better total return I shall keep moving out of FINT at least until I've halved my holdings. I am watching CSN and after reading a HL news snippet I am looking at LGEN.
I think if all these preference shares et al had been ordinary shares I'd have had less qualms selling them. The truth is that by a happy mixture of luck and judgement (say 80/20) I've done very well since 2007. I half feel that I am leaping off a gravy train which is showing little sign of slowing.
I am also considering trying to buy more Notts BS as they are relatively cheap. The only other prefs that seem attractive to me are Northern Electric NTEA but 160 is not so cheap - although as someone elsewhere noted they are not Financials and so offer welcome diversity.
I can't see how Coventry PIBS justify a price of 218. At that rate similar or better levels of income can be found cheaper.
I am also looking for something to add to my sons LISA when subscription time rolls around. Last year I bought a chunk of the Co-op 11% final repayment notes.
Finally I also have a large chunk of Enterprise Inns maturing next year and am struggling to find a replacement corporate bond.
Any suggestions/comments welcome. If there are some other Fixed Interest instruments at a reasonable price that I have missed
I'd be interested. But it does seem to my uneducated eye that things are looking very toppy.
SH
![Mr. Green :mrgreen:](./images/smilies/icon_mrgreen.gif)
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