In trying to explain the concept of preferred stock to a novice investor. Patsy Donovan referred to

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In trying to explain the concept of preferred stock to a novice investor. Patsy Donovan referred to it as a "hybrid" security. What did Patsy mean by this term?

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Fundamentals of Investments

ISBN: 978-0132926171

3rd edition

Authors: Gordon J. Alexander, William F. Sharpe, Jeffery V. Bailey

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Question Posted: Mar 16, 2016 02:58 AM

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In trying to explain the concept of preferred stock to a novice investor. Patsy Donovan referred to

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Preferred stock has characteristics of both bonds and common stocks hence the term hybrid secur...View the full answer

Fundamentals of Investments

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