Financials are getting priced for another Armageddon. Some predict complete breakdown of Euro zone, some even think that end of EU is nigh. Ain't gonna happen.EU and Euro zone will be here tomorrow, a month later and a year later. With all problems, with all trade unions pressure and riots and other problems, majority of population in EU countries understand that without EU their countries are in much worse shape. They will keep it whole.
I'm holding PGF as a way of cash management. With 8% yield, paid monthly, it's a great tool to hold your cash. Price of PGF shares in normal times is close to $25, which is a usual buyout price of preferred shares of banks. So when I have some extra cash and have no idea what to do with it, I buy PGF or something similar.
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