Another bull on high-yield bond funds is Jack Bowers of Fidelity Monitor, who is recommending Fidelity Strategic Income (nasdaq: FSICX - news - people ), which has 40% in high-yield debt, tempered by 60% in foreign and U.S. investment grade and government issues.
Jack and Witt underwrote countless municipal bond issues and backed politicians as diverse as Orval Faubus (Arkansas governor from 1955--67) and Bill Clinton.