By Porter Stansberry in the S&A Digest:

Given the chance to make 30% in stocks or 25% in bonds (from the March lows), you ought to pick the bonds. Why? Two reasons. First, as a bondholder, you have a legal claim to the par ($100) value of the bond. You have no such claim when you buy a stock. Second, you should remember performing bonds will continue to pay their full coupon, regardless of the price you paid. So if you buy a bond for $50 that yields 7% at par, you're going to earn an annual yield of 14%. When you start adding up both the yields you can earn simply holding a bond and the capital gain you can make when it's redeemed, you can see right away that buying bonds at a steep discount is usually a much better investment than buying stocks.

If there's one thing I would teach every single subscriber, it's to always evaluate a company's bonds before you buy its stock. If you can earn 15%-25% in the bonds - and you frequently can on yield alone - why bother owning the stock? You're going to make just as much money in the bonds as you will in the stock - with much, much less risk.

Crux note: To learn more about buying corporate bonds at a discount from par, check into Stansberry Research's high-yield bond letter, True Income. It's a great way to add double-digit yields to your portfolio. Click here to learn more.

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