Word: munising
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"Munis don't offer the same sleep-at-night safety they used to," says Christopher Cordaro, a financial planner at Regent Atlantic in Morristown, NJ. Earlier this year, Cordaro, who has been a planner for 22 years, began advising clients for the first time in his career to trim their...
The debt of municipalities has long been a staple of many investors' portfolios. Financial professionals and their clients have been lured by munis' tax-free status, a history of few defaults and nearly three decades of low single-digit annual returns.
If you want a friend, buy a dog. Those words are most often attributed to the corporate raider Carl Icahn in the mid-1980s and were later immortalized by the character Gordon Gekko in the film Wall Street. But given today's hostile environment for even conservative investments like munis...
Investor Wilbur Ross called attention to the "relatively unparalleled" values in the muni-bond market in March, when he revealed a $1 billion position. Muni yields almost never beat Treasury yields because both are considered safe, but the income from munis is tax exempt. That anomaly occurred earlier this year...
One alternative is muni mutual funds. You pay an average 1.09% in management and other fees each year, but you receive a diversified portfolio in return. Many muni funds buy nationally, though a fair number specialize in munis from specific states, particularly high-tax states such as California and New...