No. of Recommendations: 1
"this company's fiscal year balance sheet showed"

Excellent posting, greenmartian. Thank you.

That is a good example of the kind of research a bond investor should do before he invests, especially in junk bonds.

Bond ratings are fairly reliable for investment grade investments (not withstanding the recent mortgage derivative debackle), but I would use ratings for junk bonds more as a screening tool. Knowing the company, reading its financial reports, and understanding its business prospects are excellent topics for follow-up research.
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