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NOTES TO MYSELF Filled in the 8- and 9-year maturities, the missing rungs of T’s 10-year “ladder”… Reallocated assets for W into munis in view of pending retirement and reduced tolerance even for dividend paying stocks...E came in with her mother for reassurance nothing wrong with premiums and they’re doing the right thing sticking with pre-refunded AAAs…P unhappy with fluctuation in 529 investments for grandchildren, discussed munis with maturities coinciding with heavy tuition years in 2018-2024…Called G. He’s “thinking about it”...Rolled over P’s maturing NYC 4s into 5s due in 20 years...Call R on 15th of month with full coupon bonds. Has CD maturing…Swapped the Ks out of $250,000 3s of ’15 at 89 into $250,000 5s of ’36 at 86, handing them back $7,500 and saving them $3,937 in taxes this year…Put O’s celebrity son in touch with Greg Serbe as candidate for municipal portfolio management…Re-educated B on the essential creditworthiness of the munis in his portfolio with or without municipal bond insurance…Resolved dilemma of long vs.short for M with barbell portfolio of $125M at the short end ("in case something comes up") and $125 long for current living expenses...G, former Lebenthal client, called to say, "Coming back. No fun being small fish in big pond." Sent him Jim L's "Confessions of a Municipal Bond Salesman," signed and flagged at chapter, "What Happened When Money Dropped in the Preacher's Lap"...J called and asked me to send him statement of projected monthly and semimonthly income for the year from all his munis. "I will!" and she did, said the Little Red Hen.
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