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You are on a flight from Madrid, Spain, to Tokyo, Japan. The traveler next to you begins a conversation as you sit in your window

You are on a flight from Madrid, Spain, to Tokyo, Japan. The traveler next to you begins a conversation as you sit in your window seat.He finds out in your conversation that you are studying Global Financial Markets at Northwestern University.He indicates that his financial advisor has recommended that he include preference shares as part of his investment portfolio. He wants to understand why he should be attracted to preference shares compared to common shares and bonds. What would be your response? HINT: you are comparing preference shares to common shares, and preference shares to bonds.

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