July 13, 2014
********Go to “Core Portfolio” for current holdings.**********
I have never been interested in municipal bonds. And with the disaster in Detroit going bankrupt I was even less interested.
Except for owning an individual municipal bond from the city I live in (the bond has done well) I do not own this sector.
One of the advisors I follow recently suggested buying municipals. I do not buy mutual funds in general-due to the high costs- so that was not an option. I looked at individual issues but they are paying virtually nothing, maybe 2-3%.
I also started reading articles on some leveraged municipal closed end funds and they started to look appealing. NPT is paying over 6%.
I am not suggesting you buy NPT right now but we are looking at it. The momentum is Down but we may get a buying opportunity.
Floating rate bond funds that are listed in the Core Portfolio look appealing.
Recommended Book: Blood Feud The Clintons vs The Obamas Edward Klein. The New York Times today called this a mudfest. Well I guess if slinging S _T at Obama and Clinton is a mudfest, this book IS IT. Once you start reading this gossipy tome you will not be able to stop. What Fun. I just love this book. You will read stuff that the lamestream press like NBC would never print in a million years. Blood Feud just hit Number ONE on the New York Times Book List.
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 10 Jul 2014 at 01:33:56 PM GMT is:
The estimated population of the United States is 318,585,889
so each citizen’s share of this debt is $55,245.17.