Dealbreaker has an interesting post today regarding bond insurance and how average retail investors, who own most of the municipal bonds out there, may be prone to thinking that this insurance means more than it actually does.
Some of the most esteemed investors have already joined the municipal bond business - Buffet and Ross. Now enters California & Co. The California Public Employees Retirement System has included said creation on the May agenda. Given the large amount of cash in pension funds and the high need of bond insurance for California projects, it seems like a logical fit.
Here’s an enlightening blog post about how auction rate securities have made it into banal lunch time conversations. No one ever thought municipal bonds would be so exciting.
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