Municipal Bond Forum
Only person happy for churning is your broker
Q
Your “Just How Smart is the ‘Intelligent Investor’?” article should be required reading for anyone who buys individual municipal bonds. Family members for whom I help manage some their assets, including significant holdings in municipal bonds, think of bonds as trading mechanisms, not holding securities.
A
James A. Klotz responds:
We have never seen an individual investor who was successful at churning his/her own account. We are amazed however, by how many think they are. At least they are keeping their brokers happy.
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The responses provided in this forum are meant to address specific questions posed by investors about their municipal bonds and to provide market insight for our general audience. Please note, your investments, objectives, results and experience may differ significantly. Our answers and any potential strategies discussed should not be construed as a solicitation to buy nor sell any security or investment product. All investing entails risk.