One option I like if you're in to chasing yields are MLPs (master limited Partnerships). They're different from preferred stock in that they distribute capital profits, where as preferred stock generates interest, so they're taxed differently. I like MLPs for the income and capital appreciation. If you believe in fracking, there the way to go.
You can buy into MLP's via ETF's and get traditional 1099 tax treatment. AMLP, for example. Good yield right now, over 6%.
But yeah, dividend stocks became overvalued when traditional bond yields went into the shitter.
Lord Abbott just put two fascinating studies that show which bond classes react best historically during times of increasing interest rates: Short term corporates, high yield (!), floating rate and convertibles. And, obviously, shorting treasuries with TBT.
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Didn't know that. Ill look in to AMLP. Does it move?
Had a quick look. Pretty good yield, doesn't move, certainly liquid enough. Thanks for the tip. I tend to stay away from ETFs though.