Yes and no! First of all, they are junk bonds for a reason. The issuer is close to a default so there is a high risk that you will lose your money if a default happens. On the other hand, if you are enjoy taking risks, the premium for a junk bond is high. There is no good and bad investment to be honest. To be more accurate, the bad investments are the investments that have high risk and no return which is not true in the case of the junk bonds. The main question is if you are willing to take the risk. Bear in mind that the risk of losing your money increases if you buy junk bonds as a long term investment and decreases if you buy bonds for a week or so.