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Pimco High Income Fund Pimco Hi Message Board

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  • Kansaskeith Kansaskeith Nov 17, 2008 9:44 AM Flag

    High Yield Bond List

    A careful reading of this board will show that I've already answered a similar question, from Patty a couple weeks ago.

    "Reader's Digest summary" in reply to your question would be: (1) I've already sold (in full, the first trading morning after the Oct. 24 press release) so without a change in environment it would be dishonest to check any other box than "sell" -- except perhaps "do not disclose," when posting; (2) I follow this message board because I am interested in PHK, and will continue to be until I get the one-month dividend still due me; (3) When I read a post that I believe to be incorrect or of questionable logic I am going to question it, and did so with the post on this thread which said PHK wasn't at rock-bottom but ten other funds were -- I posted a chart that I believe shows that post was incorrect; (4) I never intentionally told anyone to short a bond fund; (5) One might read your post as trying to discourage at least some folks from checking "sell" sentiment, thus raising the question as to whether only positive sentiments are to be checked, which doesn't seem right to me.

    Any other questions?

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    • Apparently, I don't carefully read this
      board, so you got me there. But I really
      wasn't singling you out, you just happened
      to be someone who checked "sell".
      Personally, I never check any sentiment.
      To me that implies a "recommendation",
      and even though I am long some PHK, I
      would never say "buy, hold or sell".
      My curiosity right now is based on one impression...
      It doesn't seem like anyone really knows what
      value to place on these bonds.
      Some say bonds are currently priced at a default rate
      nearly twice that of the the great depression.
      I am not saying this won't happen...but how can
      anybody know this for a fact.
      Perhaps we have already swung way to far on the side
      of fear... but how can anybody know this to be fact.
      I just can't see having any sentiment, other than "huh?"

      • 1 Reply to letmynadsgo
      • Of course no one really knows -- as is evident in the volatile pricing, but my guess is that the pendulum has swung too far in the pricing of many bonds, even high-yield ones. My "sell" sentiment on this board is for PHK, not all high-yield funds, three others of which I still own. (Two of the three I am in are not leveraged, and the third is leveraged to a lesser extent than PHK.) I was in PHK for monthly income, not appreciation (though I didn't want a lot of DEpreciation). When they announced Oct. 24 that income might have to be postponed, it defeated the purpose of my investment, so I sold. I sold at $5.40 a share, which meant a loss that made me angry, but compare that with the price this morning. . . .

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