Thursday, February 10, 2011

Conflict of Interest

Before we get to the conflict of interest I want to note we purchased additional shares of the Permanent Portfolio mutual fund (PRPFX).  I would like to see other investment vehicles using the PRPFX approach of fixed asset allocations including investments beyond stocks and bonds.  Maybe have other non US currencies in addition to the Swiss franc.  Maybe have the fixed income portion include bonds other than US Treasuries.

Here's today's main issue.  A few weeks ago I wrote an entry about news I had read regarding municipal bonds.  My favorite daughter-in-law, a faithful reader, has reportedly taken offense to this particular post as her job is apparently dependent on a robust muni bond market.  In fact, today I received word that she was waiting for a public apology from me.

Keeping peace in the family is high up on my to do list but what about my credibility?  It's not like Tinkerbell came flitting along and sprinkled fairy dust on all these muni bonds.  See the news from Michigan?  They're preparing for a "tsunami of muni financial crises".  A tsunami for heavens sake. Remember the horrifying images from Bangladesh after the 2004 tsunami? 

I could make a goodwill gesture and send favorite daughter-in-law a picture of a tsunami for her Wall Street office.   Perhaps the video below will let her know we love her and are concerned for her welfare.  And OK, in the interest of family harmony, I apologize for saying bad things about the municipal bonds my favorite daughter-in-law foists unloads dumps sells.  I'm sure they're Caa Ba Aaa investments.

                


     

   

2 comments:

Anonymous said...

enid. I really enjoyed your post today; I took it as a somewhat tongue-in-cheek or inside the family apology of sorts. The video was great and the links from the video took me to some fabulous Waylon Jennings songs I had not listened to in quite a while. Brought back great memories of my personal "cowboy era" (3 decades ago; time flies when you are having fun!). Thanks.
JCarroll

enid lillian said...

Much appreciated J. Now we can only hope favorite daughter-in-law reads the tone as correctly as you.