How to Read a Stock Listing / Quote
| 52 Weeks | |||||||||||
| Hi | Lo | Stock | Sym | Div | Yld% | PE | Vol 100s | Hi | Lo | Close | Net Chg |
| 123.125 | 93.375 | IBM | IBM | 4.84 | 4.2 | 16 | 14591 | 115 | 113 | 114.75 | +1.375 |
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Junk Bonds
Junk bonds, also known as high-yield bonds, are nothing more than speculative-grade (low-rated or unrated) bonds. Before 1977, almost all junk bonds were "fallen angels, " that is, bonds issued by firms that originally had investment-grade ratings but that had since been downgraded. In 1977, however, firms began to issue "original-issue junk."
How Funds Are Sold
Most mutual funds have an underwriter that has exclusive rights to distribute shares to investors. Mutual funds are generally marketed to the public either directly by the fund underwriter or indirectly through brokers acting on behalf of the underwriter. Direct marketed funds are sold through the mail, various offices of the fund, over the phone, and, increasingly, over the Internet. Investors contact the fund directly to purchase shares. For example, if you look at the financial pages of your local newspaper, you will see several advertisements for funds, along with toll-free phone numbers that you can call to receive a fund’s prospectus and an application to open an account with the fund.
