Berko: Junk bonds are high-risk investments that should be avoided (but here are 5 to consider)

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Dear Mr. Berko: I'm told that junk bonds yield 12 to 18 percent or even higher. I'd like to invest about $60,000 in junk bonds if I could get at least a 12 percent yield to maturity. I can afford the risk. My stockbroker recommended a bond yielding 15.3 percent and wants to show me other junk bonds he says pay safe, high income. What do you think? Could you recommend a portfolio of junk bonds for me? And could you explain "yield to maturity" in simple English? — BN, Rochester, Minn. Dear BN: Your…
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