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Subject:  Re: Sears Date:  5/29/2013  3:05 PM
Author:  TMFHockeypop Number:  14689 of 25497

I prefer to buy and hold to maturity bonds but this is the second time I have seen more value in selling then holding. Its always a case by case issue. The burning question when it comes to bonds is always "Will they survive long enough and healthy enough to pay me back my principal plus coupons?"

The 2017 Sears was about the maturity I wanted and I thought they'd at least survive past then. When par was near 100% I had a decision on my hands.

The 2019 Radio Shack is IMO much more problematic. But everyone is so euphoric about business right now I'll wait.

I have too much "dry powder" right now and failed to follow my own LT advice and perhaps got more heavily into short-term bonds too soon (about a year ago). I would have been really happy now with an 8% return YTD (especially with relatively low inflation) from the perspective of last December, but when everyone else is at 18% YTD .....

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