Robert Amodeo and Robert DiMella Provide Insight Into the Muni Bond Market

By on February 21, 2014

Amodeo and DimellaFor those interested in the investment opportunities available in the municipal bond market, a recent interview by Consuelo Mack at Wealthtrack is recommended viewing. Mack is quite adept at asking intelligent questions in her interviews.

The muni market experienced outflows for most of 2013 and opportunities arose for the thoughtful value investor; especially in lower rated high yield bonds. Prices are still well off their 52 week highs so opportunities may still exist.

Amodeo and Dimella, managers of successful muni bond funds (MacKay Municipal Managers and Western Asset Management), explain the important differences between revenue and general obligation bonds, along with the infancy of the municipal bond market funding much-needed infrastructure projects. They also touch on the challenges facing Puerto Rico and Detroit making good on their obligations.

Mack claims investors are better off with active management in this space, but that would be open to debate.

2 Comments

  1. Burt Livingston

    February 24, 2014 at 8:58 pm

    In ’83, at the premeire of Staying Alive, the sequel to 1977’s Saturday Night Fever, I introduced Consuelo, then known as Connie, to her first “popcorn surprise”. Those were heady days (and nights). We must have gone through the entire concession stand before reposing to AREA (a fashionable club at the time) at intermission.

    I lost her to D. Trump, a rising tycoon. Time heals all wounds. Or so they say.

    I can look at her in full measure now. But still, when I hear the bass line from the Bee Gee’s seminal work, I see and feel nothing but thighs glistening with artificial butter and lusty Milk Dud kisses.

  2. Leigh Hung, Major

    February 26, 2014 at 8:37 pm

    The bond yields are so low and yet the risk seems more like the stock market. I don’t like it but I’ll stick to cash and safer stocks for the time being.

    As clarification. Connie’s introduction to the “popcorn surprise” did not occur in in 1983. It occurred in 1976. A full seven years earlier! I know, because it was my genitals secreted in the popped corn kernels.

    I had just been released by the Vietnamese after being held for 5 years as a POW. The movie was “A Star is Born” (the last movie Streisand made before bombarding us with her stereotypical Jewish girlfriend/mother/grandmother schtick). The setting was intimate and memorable.

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