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In Search of After-Tax returns

Are Build America Bonds the next black swan?

12/8/2010

1 Comment

 
As a former municipal bond analyst, I agree that expiration of the BAB's program would be quite unusual.


This blogger thinks it is the next black swan. Too bad you can't short muni's.


Full disclosure: I am long MUB.
1 Comment
Papa Bear
12/20/2010 09:15:55 am

Mr. Redd,

Still long MUB? You could try your hand at CDS trading! I think it works like this: pick the muni issues you don't like, buy cds, pray like hell that the municipalities have a scare but it doesn't get to serious and you can unload the CDS or that the muni issues you bought insurance on become worthless and the insurer that you bought the insurance from gets bailed out. Seems to me the hardest part would be getting paid on it, no? It shouldn't be too hard to find the bad munis right?

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