When the storm hit a decade ago, I figured that if everything was going to a really hot place in a handbasket, it didn't matter where my money was.  And there were loads of preferred shares with dividend yields of 12% to 15%.

So while my co-workers were happily unloading their mutual funds and swearing they would never by anything riskier than a GIC ever again, I was happily loading up on preferred shares.

I've been a student of market history, and market history told me that markets go up and markets go down.  And because the markets had just gone down, odds were pretty good they were going to go back up.

If I could go back and make any changes, I would have picked up a few more common shares than I did.  Let's face it.  I didn't do badly with Royal Bank preferred shares.  But I would have done a lot better in Royal Bank common.  :)