[tlbsofware]

Benjamin Graham and Warren Buffett would disagree, they don’t exactly recommend buying and holding bonds until maturity but instead to buy bonds on the market, when the bond yield is say at 6% any bond with a coupon value less than that will be worth less than its face value, when those rates drop the bond will be worth more than its face value, if you buy bonds when interest rates are high and then sell them when they are low you can make a very sizable chunk off of them that is greater than the coupon value

[anm89]

Sure. Let us know when Bonds are at 6% again. The point is the number of narratives where bonds can go lower is getting smaller and smaller.