Photometric and polarimetric observations of Long-Period Variables (LPVs), carried out at Byurakan Observatory over the last few years, have yielded some interesting results. In particular, one of the important results obtained for Mira type variables is that there is a certain correlation between brightness and polarization: the maximum degree of polarization is midway on the increasing branch of the light curve and in all probability its change has a periodic character. More recently an important result has been obtained for a post AGB star SAO 124414. The polarimetric and photometric observations of this star were carried out over a period of 3 years. At an almost constant brightness, strong, irregular changes of light polarization were observed in three bands (BVR) of the spectrum. The analysis of the observations does not show periodicity in changes of polarization. In this report the observational results for SAO 124414 are presented. In the study of the evolution of red giants and supergiants, future observations of this star taken simultaneously in optical and radio wavelengths, could be very significant.