Fallen angels
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Fallen angels
Bonds that at the time of issue were considered investment grade but that have dropped below that rating over time.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Fallen Angel
1. A junk bond that was once investment-grade.
2. A stock that has fallen steeply in price from its previous high.
In both cases, fallen angels may be undervalued, value investments or bad investments nearing bankruptcy. This makes investing in a fallen angel very risky but it has the possibility of a high return.
2. A stock that has fallen steeply in price from its previous high.
In both cases, fallen angels may be undervalued, value investments or bad investments nearing bankruptcy. This makes investing in a fallen angel very risky but it has the possibility of a high return.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved