As everyone by now knows, there is chaos in the municipal bond market. This week's Outside the Box is from good friend and Maine fishing buddy David Kotok of Cumberland Advisors (www.cumber.com).
Briefly, he outlines the problems we are seeing in munis, but then he goes on to warn of the possible next shoe to drop in closed end municipal bond funds. David is one of the smarter advisors I know, and when he points out a problem, I would suggest taking action.
Also, as things are getting more dicey in the markets, I may send out more than one issue of Outside the Box in a week when I see something that is worthy of your attention. And remember, we have been through tough markets before, and we always get through them. The key is to make sure you get through them with your capital as intact as possible.