The Easy Income portfolio is doing exactly what we built it to do.
It is collecting a substantial amount of cash from a diversified group of investments that do not all depend on the same economic outcome, the same interest-rate forecast or the same direction for the stock market.
Based on the current portfolio spreadsheet, the average indicated yield across our 14 positions is 10.10%.
That is an extraordinary level of portfolio income in an environment where broad credit conditions remain healthy, financial conditions remain loose and many of the securities we own are still priced as though considerably more trouble is coming.
