Quote me accurately: "As a near universal rule, anything paying over about 8% is dangerous."
Take a look at PSEC's dreadful chart between 2007 ($17) and 2016 when it fell to $6. Virtually all of these ultra high yield stocks have periods of freefall like that. That drop shows the danger, especially amid a raging bull market. Many go out of business and are forgotten. A few survive.
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I'm a lawyer, decades-long investor, and student of arcane investments (like BDCs). I study them... almost never buy them.
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