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Chuck,

Why do you claim to be a "vanilla bond investor" --your words-- in one post and then brag in another about owning spec-grade, double-BB debt? Do you define "vanilla bond investing" in some special, secret, motley fool sense that the rest of us might benefit from?

Certainly, you cannot be unaware that if you walked into a brokerage office and asked to talk with their in-house, fixed-income specialist and he or she asked you to describe yourself, your goals, and your risk profile that upon hearing you use the words "vanilla bond investor" he or she wouldn't steer you toward spec-grade debt for that being a violation of their fiduciary responsibilities.

How do you explain your choice of self-descriptors? How do you reconcile them with your actions?

Arindam (who buys across the yield-curve and up and down the credit-spectrum along the lines laid out in Ben Graham's classic intro to value investing, The Intelligent Investor. )
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