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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: heavenly who wrote (12398)	3/10/2000 9:59:00 PM
From: Justa Werkenstiff	Respond to of 15132

Steve: You are in California and I am in a different state. I would buy Barrons tomorrow and check the "Closed End Section" for municpal bond funds. I see Nuveen has some. Get all the Calfiornia fund names and go to nuveen.com and download the quarterly reports for all the funds and study them. They are under "exchange traded" funds. Check to see if they use leverage. Check the credit quality for each fund. Check the performance history. Check the history of the discount to net asset value. Check the average maturity. Looks like some of those funds trade at a premium to NAV. Double check it at morningstar.com. Check the expense ratio at morningstar.com or elsewhere. Figure your tax equivalent yield on each fund using the information at Barrons. Compare it against Vanguard California Long Term Municipal and see if it is worth the risk to take some on. Call the manager family to check on yield payout history to make sure for this year and last year at least. You can do this at Nuveen.com. Use the same process for each single state fund with other managers. Wait for a boatload to arrive at the ask and try to take it out for one trade at the market to reduce costs. Another alternative is to buy single state individual bonds through a broker.