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 Tax-exempt municipal bonds, long sought by individual investors given their low historic default rate, tax advantaged status and staid investment experience, have sequentially undergone a dramatic change in perception over the last three years. Starting with the financial collapse of the monoline insurance industry in 2007, the ensuing recession and impact on state and local financial resources and more recently a public scrutiny questioning the ability of municipal issuers to ultimately fulfill their obligations, have tarnished the entire asset class with a broad brush. Individual investors have dramatically altered their investment behavior, and may have interpreted recent events as systemic weakness as opposed to several isolated events.
We take issue with those conclusions and believe that when a rational, balanced examination of the facts takes place, there is strong investment opportunity available in this asset class. |
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 Shows how asset-class leadership changes dramatically from year to year and emphasizes the importance of maintaining a diversified portfolio to lessen the impact of market fluctuations in any one asset class. |
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 Emphasizes that future retirees should boost their savings rate now in order to prop up the three-legged stool of retirement income. |
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 A summary of GEAM resources that can help our clients grow their business. |
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 Learn what sets us apart from other investment managers. |
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