Municipal Bond Forum
‘Thanks for the warning’
Q
I would like to thank Meredith Whitney for what she did to the bond market. First, she let us have an opportunity to buy high quality muni bond at very good price. Second, she gave a very good warning to politician. If she keeps talking, states and cities will not default. If I were you, I would write a letter to The New York Times titled, “Thank you Ms Whitney, you’re doing us a big favor. Because of you, my bonds will not default.”
A
James A. Klotz responds:
Your point is well taken. Actually, we have expressed similar sentiments on our Bond Forum item, “Dire muni market predictions not supported,” following Ms. Whitney’s “60 Minutes” appearance.
Unfortunately some of the consequences of her comments are not as positive.
As you can see by reviewing other correspondence on our Bond Forum, her non-specific fear mongering has caused unnecessary stress among many elderly investors who depend on their tax-free bond interest to support themselves in retirement.
We would be pleased to share our expertise by assisting you in the process of uncovering some of the outstanding opportunities you mentioned in your e-mail.
Start here.
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