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Dont want to say I told You so but...

 me nov 25

Dumb Money Flows Out of Munis, Time to Buy In
?
wsj today


When many individual investors saw these declines, they began pulling money out of mutual funds, fund manager say. That forced funds to sell high-quality assets to meet redemptions. In the week ended Nov. 17, investors had withdrawn an unprecedented $3 billion from muni-bond mutual funds.

"This was the most frenzied period I have ever experienced," says Mr. Miller, an 18-year investment veteran, who estimated his daily trades that week were four times their usual level....
But since late January, the market appears to be stabilizing. Yields on a benchmark 30-year general obligation bond have fallen 7%—only part of the way toward erasing the 22% rise between Veterans Day and Jan. 14.....
But since late January, the market appears to be stabilizing. Yields on a benchmark 30-year general obligation bond have fallen 7%—only part of the way toward erasing the 22% rise between Veterans Day and Jan. 14.


  from vamagiard's advisor website

 

 

Joel Dickson: I think where we see some problems, though, at times is people react to some of the short-term volatility. So rates may rise. You may see your return be low or even possibly negative for a short period of time, but it's over the course of the next number of periods—whether it be months, years, or whatever—where you're getting that higher income that makes up for that initial decline. But if you as an investor decided, hey, I don't want this —

Joel Dickson: — decline and I got out, you don't get to benefit from that higher yield that will make up for that in a NAV decline or price decline