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Archive of entries posted on 15th February 2018

“They’re just like cash.” Until they no longer were.

Remember Auction Rate Preferreds? A few years ago, the brokers and the banks peddled them as alternatives to savings accounts. Here’s what they were: Auction rate securities (ARS) are debt or preferred equity securities that have interest rates that are periodically re-set through auctions, typically every 7, 14, 28, or 35 days. ARS are generally […]