Merry Christmas, my fellow contrarian! Did Santa bring you a tax-advantaged dividend this morning? The municipal bonds funding the Las Vegas Valley Nevada Water District would have made a great stocking stuffer. They yield 5% and get a tax hall pass from Uncle Sam. Which means on a tax equivalent basis they actually pay 6% or 7% or more , depending on your income tax bracket. Vegas is booming. And the town is in the middle of a hot desert that is increasingly arid, so this muni is rock solid. Five percent, tax free. Why’d you forget this, Santa ? Well fear not, my fellow “naughty lister.”… Read more