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What the Third Avenue Fund Failure Can Teach Investors

Investors should be aware of the general risks of buying bond funds that own non-rated, smaller issues, and the specific risks that the energy sector brings to high-yield funds today.

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Christine Benz: I'm Christine Benz for Morningstar.com. Third Avenue rattled some investors in early December when it announced that it would be liquidating its Focused Credit Fund. Joining me to discuss some of the takeaways for all investors is Russ Kinnel, director of fund research for Morningstar.

Russ, thank you so much for being here.

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Russel Kinnel does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.