Investment guru Warren Buffett warned investors that the time to buy into corporate junk bonds had passed, reports the Los Angeles Times.
At the Berkshire Hathaway annual meeting, Buffett said he has not increased his holding in junk-rated securities this year, after purchasing around $7 billion in the category last year. Optimism about a recovery has led to investors comig back to junk securities, driving yields down.
The staff of Mutual Fund Market News ("MFMN") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MFMN, and have not prepared, sponsored, endorsed, or approved these summaries.