A.I.M. For Exchange Traded Funds

[MSGI]

Tom, I noticed that your CHY and JGG your biggest holdings both seemed to have rolled over in about May of last year. I have found the same thing with several that I have looked at. I think that the market will be terrible for stocks for quite some time and I am at 100% cash since June of last year except for a few quick trades. I am tempted to go for the high yields, but does it really make sense to have a fund that pays 10% and the NAV drops 20%? I'm thinking that there must be some funds that invest in foreign fixed income where most are paying way more than in the US where maybe the NAV has stayed stable. Have you spotted anything like that?