n stock, price appreciation of preferred stock lags that of common stock. Note: Some companies do not offer preferred stock.
             Common stock is the type that is purchased most often. Dividends paid to common stock holders can vary depending on company profits. The main benefit of common stock is through price appreciation.
             Cyclical stocks - These are stocks of companies whose earnings tend to move in tandem with the economy's business cycles. Their earnings often suffer when the economy is in a slump, but rise steadily when the economy begins to recover. Steelmakers, automakers, homebuilders, paper mills and airlines are in cyclical industries. (Example - (GM): One year return on investment - 9%; five year return on investment - 130%; annual dividend yield 3%).
             Defensive stocks - Defensive stocks are from companies whose earnings tend to remain fairly stable or perhaps even rise when the economy is slow. Food companies, beverage makers and
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