These companies don't always show up in the headlines, but are responsible for creating a significant amount of economic value. They are owned by families, employees, mutual policyholders, member retailers, and private equity. None of them answer to public-market quarterly cycles. They are, instead, the operating system of the American economy.
Money-market yields are compressing, and the dollar is in a multi-year weak phase. For income investors, the question isn’t whether to take more risk—it’s which risk actually pays.