Firsova - If anyone knew the answer it would either be in administration or the price a lot higher. I have watched this one and personally I think that hybrids really kill the business. Anyone interested from the outside has to think that its a full capital repayment or full value at sometime. Only Berkshire H can just say we will never pay an ordinary dividend again and get away with it.
Really I think that hybrids are really the cause of unintended consequences on the companies that issued them - excluding banks that can control their capital base all the time.
Dont know many that have actually done okay,
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