California- Extreme profit opportunity in California munis

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Extreme profit opportunity in California munis

Friday, July 10, 2009
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By Daily Crux Editor Brandon Herrin:

California is facing a terrible budget crisis... and it's considered the worst credit risk of all 50 states. Which is why contrarians should consider buying bonds issued by the state and its municipalities.

When the munis' tax-exemptions are taken into account, funds are yielding around 9% to those in the highest income tax brackets. And many close-end funds that focus on California bonds are trading for huge discounts to net asset value. The insightful Randall W. Forsyth thinks there's opportunity here.

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Topics:		California \| Muni_bonds \| Income_Investing

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