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There is a reason I like running an income portfolio built around value and alternative cash flows. It does not require heroics. It does not require me to guess the next headline, the next CPI print, or the next Federal Reserve soundbite. It requires discipline, underwriting, and patience.
For most of the post 2009 era, investors were forced into bad choices. You either accepted microscopic yields and pretended it was “safe,” or you took equity-like risk inside the credit markets because you needed income. That regime is gone. Income is back. Real coupons are back. You can build a serious income portfolio without turning it into a leveraged bet on the lowest quality borrowers.
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That is the opportunity. It is also the trap.
When income becomes available again, investors stop underwriting. They treat yield as the strategy. They forget that credit is cyclical. They forget that liquidity disappears right when you want it most. They forget that structures matter more than stories. That is how you end up owning the wrong bonds, the wrong funds, and the wrong part of the capital stack right before markets remind everyone what risk actually is.
We are not doing that in the Flagship Report Income Portfolio.
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