Flyer, I lived in Mexico for 6 months doing study abroad when the peso was at almost exactly 10. Made doing conversions quite easy. Last time I was there it was a difficult 17.7. I just did 15 or 20 and rounded, but it wasn’t very precise.
Shoveler, it is nice to be called right!
I am feeling cocky now as I gradually sold off all my stocks over 2017-2018 and in October purchased a whole lot of taxable munis near their 52-week low, which have now gone up about 8% while stocks have dropped 15%.
Nobody talks much about taxable munis, probably because the market for them is small and they aren’t great for rich people in the highest brackets. But if you are interested, check morningstar.com for GBAB and BBN.
Tax-free muni funds often held Puerto Rico debt and lost serious money on them. The taxable funds didn’t, probably because PR didn’t issue taxable munis, and meanwhile have been paying out about 7% a year since they were created with no default losses.
Main difference between the two is BBN is a tad more leveraged and thus rate sensitive so will go up and down with rates more than GBAB.
