Preference stock, also known as preferred stock, is a type of security that grants investors certain privileges over common stockholders. There are a few synonyms that can be used to refer to preference stock, including "preferred shares," "preference shares" and "preferred stock." These terms are interchangeable and all refer to the same type of investment product. Preference stock, like other types of long-term investments, can provide greater stability and lower risk compared to other securities. In addition, it offers the potential for steady income through dividend payments. As with any investment, it is important to conduct thorough research and seek professional advice before investing in preference stock.