Cynical Contrarian

PIMCO High Income Fund: Look to Swap Out

The single most revealing comment is that Bill Gross pushed PHK by reporting the 23% December annual distribution as a true yield. Does he really expect to earn that much in the future? If not, he'll be simply giving new investors other investor's money (possibly with taxes due). That's called a Ponzi scheme.

Of course he knows better. One can only conclude he is, first and foremost, a salesmen pumping his own funds, even when they are poor investments.

The Wisdom of Convertible Securities

Anyone know where to get info on unlisted convertible bonds (traded like conventional bonds)? Quantumonline is great, but it only has info for listed securities.