Chapter 6 of The Intelligent Investor discusses:
Junk bonds
Foreign bonds
New stock issues - IPOs
Second grade bonds – Junk bonds
This is not really a contemporary subject but one to keep in mind for when bond opportunities arise. Graham discusses how sometimes second grade bonds, or what we would now call high yield or junk bonds trade at extreme discounts to their maturity value due to changes in interest rates and due to the change in the perception of risk. The junk bond yield has significantly increased over the past few months but is still far from opportunity territory as it was the case in 2016, 2011 and especially 2009.
Want to know more about what I do?
https://goo.gl/MQG2k5
Full-time independent stock market analyst and researcher!
STOCK MARKET RESEARCH PLATFORM (analysis, stocks to buy, model portfolio)
I am also a book author:
Modern Value Investing book:
amzn.to/2lvfH3t
More at the Sven Carlin blog:
https://svencarlin.com/
Check out Modern Value Investing YouTube:
www.youtube.com/c/InvestwithSvenCarlinPhD
Like Modern Value Investing Facebook page:
www.facebook.com/CarlinSven
Connect with me on LinkedIn:
https://www.linkedin.com/in/svencarlin/