Word: junk
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...international ally. Moreover, the United States certainly does not contemplate war with France—as it did with Germany early in the twentieth century, when sauerkraut briefly became “liberty cabbage.” But changing the name of America’s favorite potato junk food is hardly an effective enough finger-wagging to reprimand France...
Buffett will touch on what has long made his letter popular: how he is deploying Berkshire's $75 billion investment portfolio. He's less interested than he used to be in common stocks; he apparently finds their prices too high. Instead he's dabbling in junk bonds and acquiring private assets that range from apparel makers to gas pipelines. Buffett's book is no longer the model it once was: the investments he favors these days--specially constructed bonds and convertible preferred stock and private companies--aren't available to most investors. But they offer a clue...
Buffett plainly warns against do-it-yourselfers' venturing, as he has, into concentrated positions in the junk bonds of individual companies. "These are not, we should emphasize, suitable investments for the general public," he wrote in last year's annual letter, in which he copped to having bought 13% of the debt of bankruptcy-bound financial-services firm Finova. But investors can approximate this kind of investment by buying a diversified junk-bond mutual fund...
...what's Buffett doing right now? He still picks up small stakes in the occasional common stock, like Best Buy and PNC last year. "I'd be surprised if he hasn't got more exposure to junk bonds," says Russo. "And what this tells us is, now is a good time to buy distressed assets." That message also seems clear in Buffett's recent investments in fiber-optic company Level 3 and energy firm Williams Cos., both strapped financially. These are public companies, but Buffett did not buy their common stocks. He holds non--publicly traded securities in each--convertible...
...effects of consuming foods containing high levels of acrylamide, we found no increased risk for three major cancers,” said Lorelei Mucci, the lead author of the study and a researcher at the SPH. “The findings don’t condone eating junk food, however...