Can you precisely define what this consumer ‘stock’ is? You seem to think of it as a legally binding claim to a long stream of future payments which make it look like a bond. An airline mile is basically a disguised discount and it’s a one-time thing, you use it and it’s gone. Preferred shares have no legally binding obligation to pay out anything.
Can you precisely define what this consumer ‘stock’ is? You seem to think of it as a legally binding claim to a long stream of future payments which make it look like a bond. An airline mile is basically a disguised discount and it’s a one-time thing, you use it and it’s gone. Preferred shares have no legally binding obligation to pay out anything.