"The rewards, especially long term, outweigh the risk at this point".
That's an opinion, and while there's nothing wrong with having an opinion I would caution anyone that risk assessment is a personal thing.
Could AAA trade down significantly from here? In my opinion, yes its absolutely possible. The market has not been kind to AAA to say the least, and many who thought the rewards outweighed the risks are down significantly....like from the $2.00 area to the current 40-45 range we're in.
Do I think AAA will trade higher from its current levels? Absolutely!!! Do I think its possible that it could drop substantially. Yes, in my opinion that too is a distinct possiblity and it is why the $$$ I have invested here are monies that I can afford to lose.