Dan Foresworth - High Yield Bonds
An independent insurance broker is considering investing in high yield bonds to improve his portfolio's performance. He does not think that the returns he has received on his current equity and fixed income investments will continue into the future. He considers using historical data to construct efficient frontiers which suggest that high yield bonds improve the risk/return trade-off. A key issue is to what extent this historical improvement can be extrapolated into the future.
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