Not All Junk Stocks Are Garbage
As nasty as 2000 proved for most stock investors, bond investors made money--unless they held high-yield, or "junk," bonds. Talk about nasty. While the average U.S. stock mutual fund returned 0.8% and the average taxable bond fund 5.4%, junk-bond funds last year lost more than 9%, Morningstar reports. Other than technology and foreign stocks, junk proved to be last year's best place to lose money.
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