Bond Audit—Free of Charge

TODAY’S STRUGGLING FINANCIAL markets require more investor diligence than ever.

At CCG Investments we believe the prudent investor must review his or her bond positions quarterly and audit them annually.

This is an integral feature of the Bond Portfolio Management Program we maintain for our existing clients.
CCG Investments offers our Bond Portfolio Audit free of charge to anyone who is concerned with the position and security of their bond portfolio.

Background: Problems Abound

Financial markets have been under serious pressure since the housing/mortgage crisis erupted in the summer of 2007. Only the most perceptive anticipated the negative financial consequences that the troubling events in the housing sector would have on the municipal bond market:

1. The loss of the sacrosanct AAA rating for most bond insurers.
2. The loss of liquidity in the Muni Auction Rate and Bond Fund Preferred securities markets.
3. The quick decay of many municipalities' finances.
4. The loss of focus by large Investment Houses on the municipal bond market.

The municipal bond market is over $2.5 trillion in size. It is the fourth largest capital market in the U.S., with more than 60,000 issuers. The investing public does not have the time or tools to decipher this complicated over-the-counter market. Many investors have followed a faulty approach in building their portfolios, making two common mistakes:

1. Buying “generic insured AAA” bonds with little or no regard for the credit worthiness of the municipality supporting the debt.
2. Failure to use a Muni-Bond Professional when buying and selling bonds.

Our comprehensive Bond Portfolio Audit will highlight the credit quality of every bond in your portfolio.

In our face-to-face review, we will discuss recent rating changes and their direction, positive or negative. Current trading activity for each bond will be provided, after which we will make buy, sell and hold recommendations.

Wherever possible, investors should provide us with each bond’s original purchase price. Armed with this information, we will propose tax-loss swaps designed to lower this year’s IRS bill.

It is clear that the current problems in Municipals will take time to resolve. Many bondholders are long term investors, making 20 and 30 year commitments. Some of these commitments were made a decade ago and have not been carefully analyzed since. We think it makes tremendous sense to have a bond portfolio reviewed from top to bottom by our team of independent and unbiased bond professionals.

In order to have CCG conduct your free Bond Portfolio Audit, please contact:

John Romano
Director
CCG INVESTMENTS
Telephone: 800-717-2224