As some of my readers are no doubt aware, I have been concerned about an impending recession for quite some time. In response to this conviction, I have been seeking conservative and defensive investments to add to my portfolio in order to ride out what may be coming. One possible option here is preferred stock, which is something of a hybrid between debt and equity (although it behaves more like debt). There are a few ways to add preferred stock to your portfolio, including closed-end funds, exchange-traded funds, or even just buying the individual stocks