December 1, 2014 Current Positions Go To Core Portfolio

(Update MYI was sold)

Saturday Update:  Here is a good article which explains the current oil situation: 


(Update on oil:  I am hearing today that Saudi Arabia is maintaining production in attempts to drive the USA oil producers out of business, or at least hurting them.  What a mess for us that are holding oil positions.  I am holding on, not selling,  It appears we will be hurting for a long time but as long as they maintain dividends, which could be cut at some point, we are ok.)

(Update:  Hold on to the oil and MLP holdings for the dividends…..but I do not expect a recovery for another 6-8 months—yeah this can be a tough game.  It;s way to late to sell now.  In 20 20 hindsight I should have sold oils months ago, but my crystal ball failed me….again.)

I have never talked about municipals in this blog.  But I have been looking for a munii fund or CEF that provides a good yield..

Today we are looking at the BlackRock National Closed End Municipal Bond Fund MYI.

The fund uses leverage which makes it more risky.  MYI is interest rate sensitive.  IF and WHEN interest rates rise, you will need to sell MYI to avoid losses.

Here is a brief description:

Seeks to provide a high level of current income exempt from federal income taxes. It invests primarily (over 90%) in a portfolio of long-term, high-grade U.S. municipal obligations. It may also invest in swap agreements.

Do your own due diligence or talk to your financial advisor or broker to see if MYI is right for you,


Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.


Another 92,447,000 people did not participate in the labor force. These Americans did not have a job and were not actively trying to find one. When President Obama took office in January 2009, there were 80,529,000 Americans who were not participating in the office, which means that since then, 11,918,000 Americans have left the workforce.


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Core Portfolio



  1. […] Muni bonds have been looking good for a long time.  But I had no experience in this area and kept dithering around and missed the opportunity to buy in cheap.  After some research, we are late getting in.  On December 1 I suggested a muni holding which is doing ok. […]

  2. […] purchased the BlackRock National Closed End Municipal Bond Fund MYI.on December 1.  It is doing rather well, so […]

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