Opinions
Randy LeClair
Bank of Montreal (Preferred M)
BMO.PR.M-T
COMMENT
Jan 23, 2015
$25.670
Stock price when the opinion was issued
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Preferred M’s? This is a reset, which went to reset in 2013. Started at a higher rate and then reset to a fixed rate at 3.39%. In this environment, it won’t reset again until 2018. The bad news on this is that he doesn’t think the bank would let it go to the next reset because of capital issues. This might be worth getting out of and then switching over to something else, perhaps insurance companies.