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Who issues a bond, how and why?

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Who issues a bond, how and why? What are the benefits and disadvantages?
When would you buy a bond instead of the equity of a company?

How do you know if a bond is high yield?

What are the main risks of purchasing a bond?

I do not personally advocate the purchase of individual bonds. I think it is much safer to buy a fixed income mutual fund that is managed buy a fixed income expert. Do you agree or disagree?

 
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