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No. of Recommendations: 22
Yoda, I believe your unwarranted fear of my buy recommendations to this board reflects more on your ultra conservative low yielding investment style than on reality. Some months ago I recommended PBB at something like 20 or 21, and you commented (with no foundation) that there was a 20% chance this bond would be worthless in 5 years, even though it carried a BBB- investment grade rating and a BDC bond has never not been paid off. PBB is now at $25.75 (with dividends, close to a 50% annualized return). I am sorry for anyone you scared off from buying PBB. You made the claim simply based on the price of the bond. You believe that if a bond has a high yield that it must be dangerous based only on the fact that it has a high yield. You miss all mispricing opportunities. That is your choice. I prefer to do the homework, understand the company and the bond, and make my own decision. You can believe it or not, but I achieve very high returns year in and year out with what I consider to be a very conservative approach. My first criterion in making an investment is that the downside risk be very small, but somehow you can turn an investment recommendation in a highly rated bond into a frightening nightmare. I am surprised you buy so many preferred stocks given their very high interest rate risk.

With regards to your post on MDLX, it was all incorrect. You based the post on the MDLX bond having been issued by a BDC. The issuer is not a BDC, but an asset manager, MDLY. MDLY has external management agreements with BDCs but they do not make high risk loans and they are not a BDC. I've done the homework on this issue and you clearly have not. I stand by my recommendation and the rating agency agrees with me. This is a very safe recommendation.

Did you buy my recommendation on SSW-C, or did you assume it was too good to be true because the market would have priced it higher if what I said was true? I know that you are trying to protect the people on this board, but I just feel your belief that the market always prices everything correctly is just plain wrong, and finding mispricings in high yield is the way to get rich in the market. I wouldn't keep using this investment strategy if it didn't work. It has worked for 15 years in the high yield space.
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