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To: Mark Adams who wrote (165260)	5/12/2002 10:51:50 AM
From: Knighty Tin	Respond to of 436258

Mark, We have no durned Income Tax down here. I don't live in Florida. The reason for choosing the Florida fund was that it was selling for less over its nominal maturity value than the other finite funds. The tax free income is equal to 7.3% taxable to me. Which you cannot find AAA in any other 6 1/2 year vehicle. All high yield closed end funds sell at high premiums to NAV. It shows that a sucker really is born every minute. People who buy this crap look only at the yield. Totally nutso. It makes me glad that I have chosen to do missionary work in this field. <g> It is often better to accept a low yield. And a set maturity date is pretty much necessary unless you get a huge yield advantage with a tax kicker, as with cef preferreds. BDH worked for a bed and breakfast trade. Now, the fact that I had a Naswacky up 120 some odd points two days after I bought it kinda helped what was really a bad decision. <g>