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Monday, December 19, 2011

Not Only Was Meredith Whitney Wrong...


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Monday, December 19, 2011
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Not Only Was Meredith Whitney Wrong...

As noted by David Kotok, today marks the one-year anniversary of Meredith Whitney going on 60 Minutes and pronouncing munis bonds to be DOOMED.

Well not only was she wrong, she was spectacularly wrong.

As you can see just by looking at the iShares S&P National Municipal Bond Fund (the most well-known muni ETF), munis had a monster year, far outpacing most investments that mom and pop would have gone into this year.

MUB 1-Year via Bloomberg

 




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