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Junk Bond ETF Investors Are Getting Optimistic
We purchased a high yield ETF back in 2008 across all client accounts. Our average purchase price was about $65 and we recently hit a stop loss at $80. Not a bad return on an alternative to equities given that at the purchase point, even a 22% default rate left anticipated returns higher than the best equity estimate at that time. We're out now, but continue to watch it as a potential to get back in.
May 29, 2010. 11:31 AM
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