Comments for Portfolio LLC http://www.portfoliollc.com Started by Lee Eugene Munson, Portfolio LLC is an investment firm based in Albuquerque, NM Wed, 07 Jan 2009 02:11:37 +0000 http://wordpress.org/?v=2.6.1 Comment on ORNAX: The Crowd is Always Wrong by Sharon http://www.portfoliollc.com/ornax-the-crowd-is-always-wrong#comment-127 Sharon Tue, 23 Dec 2008 00:11:42 +0000 http://www.portfoliollc.com/?p=269#comment-127 Liked your article re: ORNAX. I have OPTAX, Oppenheimer AMT free municipals, which I inherited 10 years ago and until this credit mess starting in 2007 the fund has been just great. Does Mr. Fielding and his team use these same techniques on all the 18 muni funds they manage? Also, when forced to sell bonds to meet redemptions, do they sell the tobacco bonds? Thanks for your attention. Liked your article re: ORNAX. I have OPTAX, Oppenheimer AMT free municipals, which I inherited 10 years ago and until this credit mess starting in 2007 the fund has been just great. Does Mr. Fielding and his team use these same techniques on all the 18 muni funds they manage? Also, when forced to sell bonds to meet redemptions, do they sell the tobacco bonds? Thanks for your attention.

]]> Comment on ORNAX: The Crowd is Always Wrong by susan http://www.portfoliollc.com/ornax-the-crowd-is-always-wrong#comment-101 susan Thu, 11 Dec 2008 18:57:40 +0000 http://www.portfoliollc.com/?p=269#comment-101 I have a large Municipal Bond portfolio and have maintained one for over 20 years, with bonds coming and going. Of course now I am appalled that the value of my portfolio is dropping, but hate to sell them and take such a large hit, one of them has a letter of credit in lieu of insurance and it has taken the biggest hit 30%, the others average 5% loss. I live on the income, they are insured, What should I do in these horrendous times I have a large Municipal Bond portfolio and have maintained one for over 20 years, with bonds coming and going.

Of course now I am appalled that the value of my portfolio is dropping, but hate to sell them and take such a large hit, one of them has a letter of credit in lieu of insurance and it has taken the biggest hit 30%, the others average 5% loss.
I live on the income, they are insured, What should I do in these horrendous times

]]> Comment on ORNAX: The Crowd is Always Wrong by Dick Larkin http://www.portfoliollc.com/ornax-the-crowd-is-always-wrong#comment-46 Dick Larkin Mon, 01 Dec 2008 21:00:11 +0000 http://www.portfoliollc.com/?p=269#comment-46 You have completely misread the risks in tobacco bonds. First, spinning off PMI weakens ability to pay settlement payments, because that is the strongest part of Altria. Second, reduced smoking is the biggest risk to tobacco bonds, regardless of Altria's ability to pay. Eventually, reduced smoking will reduce MSA payments to the point where debt service on tobacco bonds will be missed. Fielding & his crew have miscalculated thyis completely, and now the market is finally realizing this--that's why long term tobacco bonds are trading in the 50s and 60s. You have completely misread the risks in tobacco bonds. First, spinning off PMI weakens ability to pay settlement payments, because that is the strongest part of Altria. Second, reduced smoking is the biggest risk to tobacco bonds, regardless of Altria’s ability to pay. Eventually, reduced smoking will reduce MSA payments to the point where debt service on tobacco bonds will be missed. Fielding & his crew have miscalculated thyis completely, and now the market is finally realizing this–that’s why long term tobacco bonds are trading in the 50s and 60s.

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