This low-cost municipal bond fund seeks to provide a high level of federally tax- exempt income <\/strong>and typically appeals to investors in higher tax brackets. The fund\u2019s lower credit quality may provide a higher yield, but it makes the fund more susceptible to price volatility due to uncertain prospects for the bond issuers. Investors who are looking for a fund that may provide sustainable federal tax-exempt interest income and can tolerate moderate risk to principal may wish to consider this fund as a complement to an already diversified fixed income portfolio.<\/p>\n The fund\u00a0 has 768 bonds with an average duration of 8.5 years. I don’t believe there’s any significant risk in this fund. It has so many bonds that one or two going broke would not affect performance.\u00a0 You can only buy the fund if you have an account at Vanguard.<\/span><\/span><\/p>\n Here’s a short-term muni box fund, also a good idea. <\/strong>It’s called the<\/span><\/span><\/span><\/span> <\/span>Vanguard Limited-Term Tax-Exempt Fund Admiral Shares (VMLUX).\u00a0 It has 1579 bonds with an average maturity of 2.8 years.<\/p>\n Vanguard describes it:<\/p>\n This low-cost municipal bond fund seeks to provide income exempt from federal taxes and typically appeals to investors in higher tax brackets. The fund holds high-quality short-term municipal bonds with an average duration of approximately 2 years, a bit longer than the Short-Term Tax-Exempt Fund. Risks of the fund include the fact that changes in interest rates, both up and down, can affect the fund by resulting in lower bond prices or an eventual decrease in income for the fund. Investors who are looking for a modest level of federal tax-exempt interest income and can tolerate some income and share price risk may wish to consider this fund.<\/p>\n There also a New York State fund which is exempt from Federal and States taxes. Click here.<\/strong><\/a><\/p>\n The Treasury Department yesterday revised<\/a> its loss estimate for the Government Motors bailout from $14.33 billion to $23.6 billion, thanks to the company\u2019s sinking stock price. GM\u2019s Sept. 30 closing price, on which the new estimate is based, was $20.18, about $13 less than its December IPO price and $35 less than what is needed for taxpayers to break even. (It closed on Friday at $21.68.)<\/p>\n The $23.6 billion represents a 25 percent loss on the feds $60 billion direct \u201cinvestment\u201d in GM. But that\u2019s not all that taxpayers are on the hook for. Uncle Sam\u2019s special GM bankruptcy package allowed the company to write off $45 billion in previous losses going forward. This could work out to as much as $15 billion in tax savings that GM wouldn\u2019t have had had it gone through a normal bankruptcy. Why? Because after bankruptcy, the tax liabilities of companies increase since they have no more losses to write off.<\/p>\n This means that the total hit to taxpayers, who still own about a quarter of the company, could add up to $38.6 billion.<\/p>\n Why the Treasury didn’t sell the bulk of its shares at the IPO beats me.<\/p>\n Favorite recent newspaper headline.<\/strong><\/span> From the New York Times of October 10, 2011:<\/p>\n The deal is near. Ha. Ha.<\/p>\n The camera that will change photography — forever.<\/strong><\/span> Maybe. It’s called the Lytro Light Field camera. It has an 11 megaray sensor (all other cameras have only one),\u00a0 that captures photos that can be refocused after shooting. I have not played with it. Read about the novel camera\u00a0 here.<\/strong><\/a><\/p>\n The Fujifilm X10 is getting a lot of attention, also. The X10 combines a bright 4x stabilized zoom lens with extensive direct control and the attractive rangefinder-esque styling of its big brother, the X100. It fits into the same category as my beloved Canon G10 — what they’re calling the enthusiast’s camera with oodles of manual controls. I have not played with it, either. I can’t keep up. New digital cameras are coming out too quickly. Click here.<\/strong><\/a><\/p>\n \ufeff\ufeffLessons from my experience with charities.<\/strong><\/span> When I sold the business, I gave big money to a charity devoted to helping ex-convicts achieve a normal life. I’d fund a networking lab — computers, routers, WiFi, desks, chairs, etc. The ex-cons would learn how to troubleshoot and fix. New York’s financial firms were desperate for these skills. A good job would keep them out of jail the second time (a huge problem). The first equipment bill I got was three times the price anyone would buy the same equipment online at Dell. Why so expensive? Their consultant had chosen the vendor.<\/p>\n The people who run non-profits have their own agenda (and their own pricey, friendly consultants). Sometimes their agenda focuses on whom they’re meant to be helping. Often it’s their own careers.<\/p>\n Charities need as much due diligence as investing in companies. The best charity is one you started yourself and control. You know where the money is going and can see, first hand, if your money is doing any good.<\/p>\n Years later I’ve found a few charities that do good work cheaply — meaning most of my money goes to help people. But it’s been hard work finding them. I have to be ultra-wary of the superb direct mail marketing skills charities have developed and the tendency to use all my money on their “administrative” expenses.<\/p>\n<\/div>\n<\/div>\n The most expensive bicycle in the world. <\/strong>Only $500,000. <\/span><\/span>This is a Trek Madone made for the return of Lance Armstrong, designed by Damien Hirst<\/a>, an English Artist, who ringed the entire bike with (of all things) butterflies.<\/p>\n Buy me me one, please. Click here.<\/strong><\/span><\/p>\n The awesome benefits of Apple iPhone 4S Siri.<\/strong><\/span><\/p>\n To watch this wonderful video, click<\/span> here.<\/a>![\"\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2011\/11\/VWAHXChart2.jpg\" "\\"VWAHXChart2\\"")
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\nYou have to pick them, carefully. You have to know them, well. The world is full of needy causes. You can’t solve all of them. Even Bill Gates found he can’t cure all the diseases he’d like to.<\/p>\n<\/a><\/p>\n<\/a><\/strong><\/span><\/p>\n
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