The Cost of Capital of the Business Is a Structural Change

The preferred is trading like a shit am in strating right around par, which is telling you that they have changed the cost of capital. Like i was able to sell a hundred million of my cash flow for 11 times earnings. Now i own the rest of it for i own the and whatever,. 900 million or a billion that's left at three times for me. That's right, you now. In my mind, it's a very real change. And i'd like to say that i'm pliable, that i'm open to change. I think that's a key to the investmeve process.