Justin Formas was quoted in a 4/9/14 article on Bloomberg regarding Muni Credits.
“Overall relative credit quality has improved and that shows in the price” of the swaps index, said Justin Formas, director of credit research in Chicago at Bernardi Securities Inc., which oversees about $1 billion in munis. “There’s more specific-name credit events versus speculation on the overall credit quality of the market.”
Ronald P. Bernardi was quoted in the 12/3/13 issue of InvestmentNews regarding the long-term implications of the Detroit bankruptcy:
“We look at this kind of market and know that higher yields translate to better income down the road,” said Ronald Bernardi, a muni bond trader and president of Bernardi Securities Inc. “From our perspective, 27 weeks of outflows isn’t necessarily all bad.”
He elaborated that some of the municipal bond fund outflows represent “hot money” from investors not truly in the market for traditional municipal bond benefits:
“I have felt for many months that a lot of the money that had moved into muni funds was hot money,” he said. “It was investment capital that would have been in money market funds or CDs, but in the early part of the year, it went to muni funds and was never consistent with the risk profile of many of those investors.”
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Ronald Bernardi was quoted in the 5/6/12 issue of InvestmentNews regarding the rally in municipal bonds.
“It’s a function of the fact that smart municipalities are cutting back,” said Ronald Bernardi, president of Bernardi Securities Inc., a municipal bond broker-dealer.”
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Ronald Bernardi was quoted in the 5/6/12 issue of InvestmentNews regarding retirement income.
“Though municipal bonds historically have been thought of as mattress money, panelist Ronald Bernardi, president of Bernardi Securities Inc., noted that the danger in investing in munis is very real.”
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Bernardi Securities, Inc. was mentioned in the following news story – City gets a good deal on bond issue.