Totally Awesome

http://www.quantumonline.com/Index.cfm

For investors who want to do their own research and look at the stuff that is most likely to be mis-priced this is the website for you. My theme has been defense, defense, defense and that appears like it is not going to change anytime soon. So if your not a bear fund and short ideas are becoming few and far in between the next artistic paint brush swipe may be into preferreds, exchange traded debt securities, royalty trusts, convertible securities, and all the other stuff everyone ignores. Honestly I am ignorant on most of this stuff and will be spending some time learning. Obviously this website is only for those who have the time and the desire but it could be the safe haven. A preferred share places you ahead of shareholders so if your seeking yield as you wait out what looks like will become a bear market this can be a good way to do it. As Buffett has said, it is not how much money you make in the good times it is how much money you lose in the bad.

Anyway yesterday in the WSJ page C2 it talked about Citigroups (C) new $2 billion IPO of its convertible preferred securities it will bring to the market. This will allow investors like you and me to get the same deal that the Singapore, Korea and all the other big investors got. Essentially you get 7% dividend (you are ahead of shareholders of common stock so if they pay the dividend of any kind you will get your full 7%) that is structured in a way that you only pay the 15% tax rate on it and you have the option to convert to common stock at any point that the common stock moves 20% higher than the current price of the issuance of the preferred. I am not recommending this when it comes out but it does sound very intriguing.

Anyway this site has all those type of listings.