Why don’t we have preferred stock in our portfolios?
Question: How does Mills Wealth Investment team think about preferred stock compared to common stock? This is a pretty detailed in-the-weeds question, but I think the answer can help explain a little about how we think about building “efficient” portfolios that barbell risk assets on one side of the portfolio and high-quality defensive asserts on the other side, typically high-quality bonds that tend to perform well when risk assets sell