Random Roger summarizes an article in BusinessWeek in which Bill Gross of PIMCO fame notes his investment in a number of different closed-end municipal bond funds. Gross is quoted:
“I own 35 of these funds personally,” says Gross. “You can get a 6% yield on some of these tax-free, compared to just 4% on Treasury bonds. That’s a great deal.”
Please note just because Bill Gross is doing it, does not necessarily make it a great idea for your portfolio. Nevertheless it is an interesting peek into a pro’s personal investment portfolio.