James Dearborn is the managing director responsible for the municipal bond team at Columbia Management Investment Advisers, LLC (CMIA). The group manages more than 30 mutual and common trust funds, as well as numerous institutional and high net worth accounts. Mr. Dearborn joined the firm in 1996 and has been a member of the investment community since 1986.
Prior to joining the firm, Mr. Dearborn worked at Moody’s Investors Service as a senior analyst in the state and high profile rating group. He was also a member of the firm’s rating committee. Mr. Dearborn earned his B.A. from Wesleyan University in Connecticut and received his M.A. in public administration from the Maxwell School of Citizenship and Public Affairs at Syracuse University.
Volatile ratings leave retail investors at risk Retail investors could pay higher prices Deck is stacked against retail investors With an increasing focus on the benefits of owning municipal bonds — attractive after-tax yields, low historical default rates and relatively low volatility — investors are again considering purchasing individual muni bonds. But the deck may be stacked against
In recent months there has been a lot of concern and anxiety in the municipal bond market, and investors remain skittish. Although the general trend in municipal credit is positive, investors should be mindful of the risks associated with Puerto Rico municipal bonds. We believe the combination of high tax equivalent yields, increasing tax rates,
December 3, 2013 — a seminal day in muni pension discussion. Ghost of Christmas Past – good times were had by all. Ghost of Christmas Present – sobering reality as negotiations continue to go nowhere. Ghost of Christmas Yet to Come – rising above the Detroit debacle. In the annals of public finance history, December
As muni bond prices fell and yields soared in recent months, fear and uncertainty kept investors away. Amidst the unprecedented fear-based sell-off, the fundamentals of the muni bond market continue to strengthen. Bypassing muni bonds may mean missing out on today’s attractive long-term buying opportunities. Tax-free income is a big reason why so many investors have
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