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Subject:  SLM’s Indexed-Coupon Bonds Date:  9/26/2012  4:37 PM
Author:  trader2012 Number:  34413 of 35834

Since summer of 2009, I’ve been saying that “the low-hanging fruit has already been picked”, and it has. But them with a tall ladder shopped for bonds the rest of that year and then did the same in 2010 and 2011. Earlier this year (2012), I said there was nothing worth buying. But I’ve still managed to add as many new position as last year. After Bernanke’s Sept 13th announcement, I said again that bonds had now gotten too expensive to be worth shopping for. But I added four new positions this week. So, obviously, I’ve been right, and I’ve been wrong. Bonds have gotten increasingly expensive. But a determined bond-buyer can still find things in the trash heaps that could and, maybe, should be bought.

One of the trash heaps I’ve ignored so far are 'Indexed-Coupon' bonds. I have no idea whether that is their proper name, and I don’t care enough to look it up. If the term isn’t