Want to Find a CA Muni Bond Specialist

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Want to Find a CA Muni Bond Specialist

Postby tigerman3 » Thu May 02, 2013 5:44 pm

I live and work near San Francisco. I'm looking for someone who can help me build a Muni Bond ladder. Anyone have any input on how I might find a reputable bond specialist to assist me in this task?

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Re: Want to Find a CA Muni Bond Specialist

Postby RadAudit » Fri May 03, 2013 10:09 am


Don't have a clue. May be some one VCAIX or VCITX can help.
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Re: Want to Find a CA Muni Bond Specialist

Postby hoops777 » Fri May 03, 2013 3:37 pm

Google the Richelsons.They are mnui bond experts who will build a ladder for you.They charge 1% of the initial amount and that is it.They have written many books and are excellent.They are located back east but do it online for you.The Scarsdale Group is the name of their firm I believe....husband-wife team.I will use them if I decide to build a ladder.
K.I.S.S........so easy to say so difficult to do.

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Re: Want to Find a CA Muni Bond Specialist

Postby dratkinson » Fri May 03, 2013 3:57 pm

Displaying my ignorance and suspicion here.

    How are bond specialists compensated? Are they paid by the bond issuer for their recommendation and sales?

    Does a bond specialist give you your money back if a recommended bond defaults? If compensated by the bond issuer, do they still come out ahead?

Individual bonds: Orange County, Stockton, San Bernardino, Mammoth Lakes, .....

The beauty of a bond fund is that it has already been populated with bonds selected by bond specialists, it has more diversity than you could typically afford by yourself, and the fund handles the research/purchases/redemptions for you. So there is no need to construct a bond ladder. And above bond defaults should be only a small percentage of a well-diversified bond fund.

From the literature (BH-recommended books), there may be good reasons to purchase individual bonds, but honestly, I forget what they are. Maybe one was "you can choose for yourself only bonds that will not default." (J/K)

My $0.02.
d.r.a, not dr.a. | I'm a novice investor, you are forewarned.

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Re: Want to Find a CA Muni Bond Specialist

Postby tigerman3 » Fri May 03, 2013 4:16 pm

Hoops, thank you. i will look them up.

DrAtkinson, thanks for your input as well. I'm fairly well aware of the ongoing debate on whether it is better to be in bond funds vs. individual bonds. And frankly, I'm on the fence. I know there are upsides and downsides to both. I currently invest in bond funds as well as individual bonds. My problem is that I didn't like the guy who was buying my bonds for me, and he was adamantly opposed to putting together a bond ladder. Instead, he wanted to cherry pick what he thought were good deals.

Generally speaking, if we weren't anticipating a rising interest rate environment at some point in the not too distant future, I would lean toward using bond funds exclusively. However, given the upside and downsides of each approach, I would like to continue splitting the bond portion of my portfolio between short and intermediate funds and a ladder of about 5 years. My plan is to limit bond purchases to GO muni bonds of the highest quality and to find an advisor who access to institutional pricing.

Of course, I am open to any and all advice, and any further input is most certainly welcome

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