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Strategies & Market Trends : Value Investing
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To: Wallace Rivers who wrote (16558)3/8/2003 3:12:12 PM
From: Joan Osland Graffius  Read Replies (1) of 78659
 
Wallace,

I personally would not invest in junk bonds and am not an expert on convertibles. We have been living thought a credit bubble and it would not surprise me to see a credit crunch where junk bonds go up in smoke.

My idea for income investing at this time is government bonds in commodity based nations. Australia, New Zealand, Norway and Canada fit this definition. We could be a little early with Norwegian bonds as the currency generally fluctuates with the price of oil if one believes the price of oil is going to go down.

IMO the bonds of these countries are quite attractive right now with interest rates north of 4% for 3 year maturity. They are trading at a premium and the cash flow on some of these are north of 6%. If one believes as I do the currencies of these nations will go up in value relative to the US dollar this cash flow will be worth more in US dollars as time goes on.
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