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No. of Recommendations: 1
When prices moved against you in '09 and DDT was trading sub-$5 bucks, did you average down or just sit tight?

'09 was a delight for exchange traded bonds (or similar)!

My favorites were ISM and OSM (CPI-linked student loan company debt). I traded those two extensively from '06 through '17 until just before they matured at par. Sure, in '06 I paid a lot (22.something), and in '07 I still paid a lot (21.something), but '08 and '09 were a bonanza ... on 10/10/08 I picked up a bunch of ISM at 7.50. Throughout that period (more than a decade!), I routinely discussed those bonds here on the boards, and I sometimes traded them when beneficial to avoid too large a position. Finally, I started selling, sold 1/3 of the total position in mid '16 at 24.82-24.85, and then sold the remainder in March '17 at 25.15-25.17.

Oh, and they never failed to make an interest payment in all those years. Every single month I received an interest payment, except that the 11/16/09 interest payment was ZERO due to deflation eating up the entire fixed portion. Remember when we were all worried about deflation? 😂
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