Tuesday, December 09, 2008


I bought a few shares of JNK today. This fund of "junk bonds" offers a current yield of 16.2%. Many of the bonds held should appreciate dramatically as the US economy gradually turns. Real estate is the great big battleship that has gotten halfway turned. When it finally gets a head of steam going the "other way", the credit markets will improve and the stock market will anticipate great earnings by the end of 2009.