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Tim Travis
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Tim Travis is a veteran deep value investor and money manager. Travis has extensive experience in traditional investments such as stocks and bonds, in addition to having a unique methodology of combining options and distressed investing with value investing to generate income, reduce risk, and... More
My company:
T&T Capital Management
My blog:
T&T Capital Management Blog
My book:
Learn to Treat Your Portfolio as a Business
  • Muni Buyers Gain Peace Of Mind, But Will Likely Lose Some Yield-WSJ 0 comments
    May 2, 2012 10:37 AM | about stocks: AGO

    In very encouraging news for the municipal bond sector, the amount of insured municipal bonds jumped 60% in the first quarter of 2012 from a year ago, to $3.7 billion. One of T&T Capital Management's core positions is in Assured Guaranty (NYSE:AGO) which is really the only bond insurer writing new business.
    http://seekingalpha.com/article/476071-assured-guaranty-an-undervalued-diamond-in-the-rough

    The only thing slowing down the growth in this market is the irresponsible changing of the credit rating guidelines that have plagued the industry with uncertainty. Municipal defaults such as those that occurred in Harrisburg and Jefferson County have proven the importance of municipal bond insurance for investors. One of Moody's arguments for a potential downgrade is the lack of demand in the industry which clearly seems inaccurate when you read this article.

    http://online.wsj.com/article/SB10001424052702304723304577370321169424552.html?mod=personal_fin_newsreel

    Disclosure: I am long AGO.

    Stocks: AGO
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