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Discount Tax-Exempt Municipal Bonds

December 9, 2005
Kenton J. Skarin

From time to time we send out a Disciplined Investor® that we hope will become a timeless “classic.” This is one of those articles. The concepts addressed below should be as relevant and valuable ten years from now as they are today. Sometimes these classic articles deal with theory (e.g. “Does Total Return Matter if I Never Sell?,” dated August 26, 1996), while others deal with a more specific ongoing investment opportunity. This Disciplined Investor is the latter. As such, it is our hope that you profit from it for years to come. It is also our hope that you recall the source of this relatively straightforward, yet very profound concept.

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