Possibly opportunity lies two to three quarters out. High yield investing is hard work when looking at and investing in singular issues. A real possibility is to go with a fund approach for pure diversification purposes. As you know, roughly equivalent to the combined market caps of GE and Microsoft. Liquidity is not significant.
Risk is high, plain and simple.
As contrarians, our sworn solemn duty is to examine the factual information surrounding any investment opportunity, regardless of how either distasteful the asset or how well loved. High yield investing is an exercise in focusing on total rate of return. Especially in today's world. You can do the math. We'll tell you one thing right now.