Quote:
Originally Posted by Nords
Business Week looked at junk in this weekend's issue, and I wonder if their cheerleading publicity will make this the best year for junk since 2002-03. Seem to be a lot of cap-gains opportunities floating to the top of the cesspool.
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Junk is very attractively priced, but security selection is very important, more so than in equities. Either pck individual bonds yourself or make sure the manager of the fund you buy has a good track record. Performance vs. indexes in 2000 through 2003 would be a good benchmark.