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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bonnie Bear who wrote (48245)	2/22/1999 2:23:00 AM
From: Tim McCormick	Read Replies (1) \| Respond to of 132070

BB, most of the municipal CEFs are full of junk or use leverage to quote a high div. yld. If you have at least 10m, get a muni only broker to fax you the bid lists which circulate intrabroker and pick what you want to bid on. Sometimes you can assemble a portfolio of odd lots for cheap, as brokerages like to get them off the books by the end of a month. If you buy a bunch of odd lots, just don't plan on selling them before maturity as the bids will suck. :) Tim

To: Bonnie Bear who wrote (48245)	2/22/1999 9:41:00 AM
From: Eggolas Moria	Respond to of 132070

<<Gosh, I've never seen these for retail sale...>> General obligation bonds are widely available, even from discount brokers such as Schwab. The best way to buy them is to wait for a new offering and try to buy at that time from a broker. It's the easiest method and guarantees that you get approximately the same price as an institutional client. Buying in the secondary market is a bit more difficult for the unitiated. The brokers can and often do play games to take out some fairly high commissions (all bonds are sold at negotiated prices). If you want to try this for real, let's start with your state of residence, amount for purchase, broker and desired maturity range.