Ep. 149: Yield vs. Return After the Fed's First Hike

First Fed hike since July 2023 (3.75%-4.00%, 12-0, no cuts projected through 2027) as the backdrop for income investing: our own PFFA preferred-ETF teardown (10% yield, 2.11% ER, 25% leverage, ROC estimate doubled in February), JNJ vs Realty Income on monthly cash vs compounding, four ultra-high-yield IRA names (ARCC/MPLX/STWD/UVV), a REIT portfolio roast with an expert, SPYI/QQQI tax efficiency, SCHD vs SPY for retirement cash flow, and five dividend stocks at 52-week lows.