Disappointing (and maybe hastily written to meet a deadline?) article furthering a false mantra promoted by the investment industry as a whole. Rob's concern dealt only w volatility but ignored the rates of return for yields, beneficial tax implications of the dividend tax credit from preferreds, and the fact that if you hold them to maturity the companies will renew or buy them back for the initial purchase price of $25. Hopefully others will point these things out to him and he can do a better job on this topic in a future article.