Jan Siegmund

Companies whose debt is completely and totally without risk now number just three rare and beautiful specimens. But, like the roseate tern and loggerhead sea turtle, they are in danger of disappearing forever, because, in spite of all of the hand-wringing and hair-splitting that goes into dividing the triple-As from the double-As at a ratings agency, the only distinction investors seem to care about is that between investment grade and junk. Read more »