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Charlie, if ever you write a book on bonds, please let me know! There are few individual bond investors out there with your breadth of knowledge.


Thanks for the kind words. But now come some necessary disclaimers.

Chris has far more breadth of bond investing experience than I ever will. I came very late to the trade. And there are others who've posted in this forum who are have far more money under management in bonds, or who are both bolder and braver, or who understand far better than I ever will segments of the bond market, such as preferreds, or even just how to use bond funds effectively. In short, what I can do well --a multi-sector gig-- is just a tiny, tiny fraction of all that could be done in the world of fixed-income investing.

I take my bond investing seriously, and I make a good living from it. But there are no secrets, and there's nothing I could put into a book that can't already be found in them. As I've said before, bond investing is best done, Ben Graham-style, as a value gig. That's where beginners need to begin. The rest is just tiny details that are picked by actually doing bond investing, one purchase at a time, all the while trying to stay out of trouble (and learning how to manage it when it does come your way).

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