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Old 08-30-2008, 09:56 AM   #21
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Thanks to everyone that added to the discussion. I'm doing my best to read and learn about buying bonds.
The link to removing the fog was very good.

From some of the books I've read on bonds, it seems that trying to find & buy new issue muni's is the best way to keep from being ripped off by the brokers. Do any of you have first hand knowledge as to this being true.
Thanks again to all,
Steve
First hand evidence of what? Being ripped off by brokers when buying munis in the secondary market? Or paying less in fees by buying at issue?
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Old 08-30-2008, 05:51 PM   #22
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I was actually asking if it is truly safer and better to buy new issue. But I'm always interested in any experience either way.
Thanks,
Steve
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Old 08-31-2008, 01:39 PM   #23
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I was actually asking if it is truly safer and better to buy new issue. But I'm always interested in any experience either way.
Thanks,
Steve
Hi Steve, I recently sold some munis that were held my several large brokers. I ended up moving them over to Schwab and selling through their bond desk. The reason was that their mark down is more transparent (and less) than the full service dealers. I stick with the inexpensive muni funds. I can see buying individuals if you live in a high tax state, there isn't a decent state fund, and there are some good offerings available.
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Old 08-31-2008, 01:45 PM   #24
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Another thing...

There's good information available, including recent transactions, at InvestingInBonds.com .
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Old 08-31-2008, 02:33 PM   #25
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Like most anything else, it depends on whom you trust. It also depends on the size of bonds you're doing. If you're buying a large lot, buying in secondary will probably be cheaper than buying a new issue.
On the other hand, if you're buying a very small amount, many times you can find them very cheap as no brokerage wants to have a small lot hanging around.
Here's the bottom line, either you have a broker who you trust and is doing a good job for you, or you don't. However, if you're not a client, but instead a customer, it's silly to think anyone is doing anything to benefit you.
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