In the Satya yuga a white avatara appeared to Kardama muni to establish meditation as the process for self-realization.
Fortunately, there are muni funds that hold few or no AMT bonds.
If all of this sounds like too much work for a 4% or 5% yield, you can buy a muni mutual fund.
A closed-end muni fund invests in a portfolio of municipal bonds - long-term IOUs issued by states, cities and other government entities, such as airports.
In this regard, it does not take a deranged imagination to see a potential train wreck developing in muni finance; faltering finances, mushrooming underfunded pension liabilities, and huge borrowing needs for as far as the eye can see.
For now, he cautions investors about putting money into municipal bonds or muni funds.
But as dramatic as the ebb in equity and corporate bond market flows, we are witnessing an even more spectacular flow into the ‘safe-haven’ of Treasuries, agencies, munis and mortgage-backs.
He advises small investors to invest in munis through mutual funds, rather than buying individual bonds.
In May, Svetambara and Digambara Jain munis performed pratistha ceremonies installing a murti Mahavira.
For those who want to take some risk, consider munis from the New York City area.