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Author: jackcrow Big gold star, 5000 posts Feste Award Nominee! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35387  
Subject: Re: bond of company in CH. 11 Date: 5/6/2013 7:46 PM
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Charlie,

But there are no secrets, and there's nothing I could put into a book that can't already be found in them.

True

As I've said before, bond investing is best done, Ben Graham-style, as a value gig. That's where beginners need to begin.

True and true

But there are few practical books built for and by the small investor in the bond world. Most of them start out with 50k ports and rattle on about diversifying, how the markets are effected by macro issues and the complexities of the markets. Often the little gal or guy feels like individual bond investing is out of their reach. How many times have we had the argument on this board about the differences between holding a fist full of bonds and holding bond fund.

You write well. You are diligent. You believe the little guy can. You know many of the pitfalls. You know the hurdles the little guy faces that aren't addressed any where else I know. I don't know of a book that talks about buying singles and threes. I don't know of a book that talks about studying spreads of said singles and small odd lots. I don't know of a book that talks about waiting for your price or how to study the market, from the little investors point of view, how to set a price range. I don't know of a book for the small investor that talks about how to deal with good junk, bad junk, good junk gone bad or bad junk gone to worse.

TMF was an innovator when it came to arguing that the average schmoe can invest in stocks. They built a site and published books and host a radio show founded on the idea that the little guy can invest in stocks and win. I've learned a ton from them and even more from the boards and added my successes and failures to the small stash of investing wisdom that I have.

You are right, many people have written well about various topics related to investing. I don't know of someone who has started out with B. Graham investing thesis and takes that show to the little guy bond world. Ben did it, his most famous student W.E.B. does it but no one talks about the nuts and bolts of doing it. You have one system built on that concept and it is worthy of sharing beyond the tiny number of viewers that this board gets. Its not about running Charlie's system like a McFranchie, its about the idea that it can be done and here is one place to start monkeying with it until you figure it out for yourself.

Just saying

jack
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