CD's are maturing. Looking for steady managed accounts...

so you basically want something with no annual losses (in other words, you want ultra low risk), but you want a taxable-equivalent yield in the teens.

ooookay.

let me know when you wake up from your fantasy

 

he said he wanted something with long-term track record.

 

where can i find a list of these securities and how does someone buy them?

 

Fantasy? It might be.

But Bestfriend did in fact state "4%-15% tax free return" in his original post of auction rate municipals.

I don't know anything about the risk other than reading about several auction rate security blow ups, but the returns seem to be attractive.

 

how to buy them

 

Try Fidelity, but any full service broker has 'em. Commish is paid by the issuer.
My point is these things used to yield slightly more than MMF's but now they are (on a taxable equivalent basis ) paying a lot more than a long-term CD--with weekly liquidity

 

Stereo,
You are misinterpreting my comments and are simply incorrect. I will bet you have never read a prospectus on an ARS.

I did not say auctions are not failing. I said you can stay away from those that WILL fail because those are auctions that have low reset rates.
I do not have a security that has had an auction failure in more than a month. I wish ALL of my securites had auction failures because I would get rates between 6 and 15%. I'd happily wait that out.

Once again, you just need to read the prospectus and understand what you are buying. Apparently, many CFO's didn't.

Muni prospectuses (prospectii?) may be found at www. emma.msrb.org.

PLEASE FAIL ME AGAIN, ARS !!

btw, rates on these things have dropped significantly since my last post. The highest rate I have is 7.33%. The lowest is in the high 2's but that bond fully matures 6/1

 

http://moneycentral.msn.com/investor/partsub/funds/topfundresults.asp?Category=All&Symbol=$HF

 

You would lose that bet. I have my own Bloomberg terminal at work and could list contacts at every major firm. I don't question that there were a few opportunities...but those disappeared quickly. No harm meant to you, just wanted to be a bit of a voice of reason. Liquidity is STILL a problem unless auction debt was refinanced to fixed rate like most of CA muni debt. This market will never exist like it once did -- maybe VRDN's -- but not 7-28 day auction rate ARP/ARS/ARM.