Subject: Nice primer on credit
Most people think they know the basics of bonds, but this is an outstanding primer on the various corners and concepts of the credit market.
https://www.ft.com/content/286...

Quite amusing in spots, too.

And some potential "news you can use" bits. They note:
"Moreover, 74 of the 501 defaults recorded over the period took the form of repeat defaults — AMC Entertainment alone features five times."

Given the number of issuers out there, that's a pretty disproportionate percentage. So, even within a given bond rating level, if you simply pick a random diversified portfolio of bonds, but eliminate from consideration companies that have defaulted before, it would seem to give you quite an edge?

Jim