BIT - High-Yield Investment Strategy Fails
A few years ago I became intrigued by a spate of articles and comments by authors and readers about high-yield investment strategy as an alternative to dividend growth (DGI) investing or other approaches to portfolio design - particularly for retirees and those approaching retirement. The thesis of the high-yield proponents was that although the value and dividends of high-yielding securities - largely mREITs, BDCs, MLPs and CEFs - were unlikely to increase over time, the additional cash paid out now could be reinvested to grow the portfolio over time while providing more income on a