Ben ChengYPG HoldingsYPG.PR.A.TOPAST TOP PICKNov 20, 2009

YPG Holdings pref. Series A. This is equivalent to an 8% bond yield. There is some upside potential. Good yield compared to GIC over next 3 years. Pretty safe.

YPG Holdings Series 2 Preferred: Likes these preferred shares because of distribution. It is retractable in 7 years, giving a 10-1/2 yield to retraction, equating to a dividend equivalent of almost 15%.

Has fallen from its $25 issue price to about $15.50 giving it an approximate 20% yield. Has a higher priority to cash flow than the trust units (YLO.UN-T).