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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: XoFruitCake who wrote (171744)12/16/2008 4:24:08 PM
From: patron_anejo_por_favorRead Replies (4) of 306849
 
I've bought a LOT of muni CEF's lately. There will be some defaults next year, but taxes will be going higher (on the state level if not federal). And the yields on these things has gotten mad stupid. I bought a same state muni CEF (MZA) at a 15% discount to NAV yielding 12.5% tax-equivalent. 70% A or better rated. I also bought AFB (which I know you know of); they're at a 21% discount and yield 9.8%, 13.5% tax-equivalent. They are levered, but this stuff is being kicked to the curve for tax-loss season. I'm willing to put up with some short term pain, they're not staying down here forever.....
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