Clearly, a sound argument can be made for holding as well as selling. folgore,Yeah, I think it’s a marginal call.If one needs cash, or has a better investment in mind, or holds bonds exclusively for income, or is uncomfortable with risk, then selling at 55+ for a defaulted bond makes good investment sense.But for me, recent calls and maturity redemptions have meant cash is piling up... and I consider cash as “the enemy”. So I sleep better when my cash is invested in just about any “real” asset (even a non income producing BK’d entity). I guess the current in-phrase for this is “risk is on” (thanks to Ben Bernanke).Howard
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