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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A)
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Author: knighttof3   😊 😞
Number: of 15062 
Subject: Re: OT- Howard Marks new memo
Date: 10/12/2023 1:19 PM
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No. of Recommendations: 11
So many good choices now compared to 2020, before the start of the tightening cycle.

TFLO - US government floating rate notes ETF. Zero duration, 5.65% YTM (yield to maturity) as of now. Good alternative to ST (short term) TIPS.

GOVT - US government bonds of all maturities. YTM 4.8%, duration 5.8 years.

Any number of low ER (expense ratio) ETFs. XHLF, XONE, SPTS for short term, SPTI for intermediate, TLT, SPTL, etc for long term.

Unless the geniuses in Congress manage to shoot all of us in the foot, US treasuries are vastly preferable to corporate bonds.

Corporate bond funds are for idiots. 1% extra yield for 20% declines in bad times when you need bonds to hold up. Buy good corporate stocks instead, as Graham said. Even specific corporate bonds only go on sale only once in a while like after the GFC.

Preferred stocks are basically common stocks with limited upside. Buy only at the right price which I have no clue how to judge.
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