Warren Buffett, 2005 meeting - "We bought about $7 billion o...

Warren Buffett, 2005 meeting - "We bought about $7 billion of junk bonds [in the fall of 2002]... bonds yielding anywhere from 25% to 60% - 70% on a yield basis; within 12-14 months, those same bonds sold at a 6% yield. You don’t need to do that very many times in your life."