High-Yield Investing

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21 Comments
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Smokey
Guest
Smokey
February 25, 2009 12:41 pm

A two-person show. They ferret out high yields that are pretty uncommon–but they underestimate the risk, or at least don’t explain the risk. Like everything, high risk is high reward–and in this market you’re likely to go bust. But I compliment them on finding some pretty unusual situations. Buyer beware.

Bob
Guest
Bob
February 26, 2009 10:11 am

I have read this letter for years. I am retired and need
this data. Carla had a BA, MBA, Phd and teaches and used to
write annual reports. He husband also writes a newsletter
of a go-go sort.

She is very thorough and analytical. She keeps tracks of her
recommendation and has added stop points in last 6 months.

This is the best High Yield letter I get and the total is about 6. There is a first of the month letter and a mid month
update.

For only $99 a year this is a steal.

(Carla is in Calgary and knows the Canadian market very well.)

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R Fraser
Guest
R Fraser
March 8, 2009 3:49 pm

I agree with Smokey as to the risk of her picks. I subscribed to her newsletter for a year, but did not renew it, nor would I subscribe again. I bought several of her suggested picks and in general they had poor overall performance, as prices on average went down. She seems to pay little attention to price, and does not have a problem with recommending things that have already had a dramatic run-up in price. Especially in the fixed-income arena, this seems to increase the risk, as prices tend to mean-revert. Overall, a disappointing newsletter.

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Bud
Member
Bud
March 20, 2009 7:00 pm

I have subscribed and bought a couple of her picks and they promptly lost====big time. They were not good choices and if anyone has followed her, they will notice that most of her picks from last year lost @ 40 to 50%. I just quit. Watch them though, they debit your credit card every quarter and the rest of the Street Authority gets your e mail and you get inundated with their terrible picks.

Paul
Guest
Paul
March 22, 2009 7:52 am

To summarize, I had approximately five problems:

(1) She picked shipping and Business dev corporations on the eve of a major recession, which I think was insane.

(2) She mentions underlying volatility in her wripte-ups, but there have been additional factors such as people dumping because of yield freezes and cuts, or recession-sensitive sector picks

(3) Compounding (1) & (2), she claims to be writing this for really cautious investors looking for the safest picks, including actually her mother and is supposed to have twenty something years of experience in market analysis, but if I were a little old lady right now, I’d probably be having a coronary based on these picks.

(4) The happy talk continues blithely on in March, as though in denial that anything really happened to the market during February. Or, she is not writing this for people who actually follow the market, or she is hoping you didn’t notice if she sounds up-beat enough. She sent out a kind of urgent update in March suggesting dumping just ONE pick because of a div rate cut, while I was actually sitting in the middle of a graveyard of her picks.

(5) The write-ups are not very analytical. They read a bit like a review of a private school sporting event or amateur dramatic performance.

In more detail now:

I am a very new investor. I subscribed to HYI in December 2008 because I thought the yields might render the underlying instruments resistant to loss. However, several of Carla Paster-Knacker’s picks dropped like stones during February.

Her picks that I think were unforgivable were business development corporations (during a recession ! eg. AINV, ARCC, HTGC). “Invest like a ventur