This 6-pillar curriculum teaches the basic literacy we need to be personally and financially successful and to do so in a manner in which together we evolve a culture that supports the emergence of an advanced human civilization.
This paper is directed to traditional municipal bondholders, those who hold bonds primarily to receive tax-exempt, steady income. That investor generally holds municipal bonds expecting little change in the price of these securities. That investor welcomes capital gains, but that is a secondary objective.
Such investors do not own municipal bonds as speculative securities. They do not get paid enough to do so. They buy municipal bonds for the income, not for appreciation. Today, no matter what one’s reason for owning municipal bonds, these are speculative investments.
