A Portfolio for the Income-Minded

Back in mid-October, I launched a new portfolio for income investors because I thought such investors could use some help in a very tough market environment.

At the time, yields weren't very tempting: In fact, if you looked at the 4.5% yield on the 10-year Treasury note, they were downright disappointing. And as if that weren't enough, the Federal Reserve was firmly locked into a series of interest rate hikes well into 2006 that would knock down the price of any bond an income investor bought.

Two months later, a lot has changed. But not for the better. ...