Confessions of a Municipal Bond Salesman by Jim Lebenthal

By Jim Lebenthal

A real Wall road icon tells his tale in Confessions of a Municipal Bond Salesman.Follow Jim Lebenthal's lifestyles trip from Hollywood reporter to well known bond salesman during this exciting publication. every one bankruptcy contains vibrant tales during which Lebenthal recounts his successes and setbacks, as he labored to construct his kinfolk company into one of many best-known municipal bond organisations in the United States. through the publication, Lebenthal distills his stories that can assist you practice what he is discovered for your personal careers and lifestyles. you will make the most of Lebenthal's detailed recommendation, as he touches on concerns corresponding to spotting chance, ethics and morality at paintings, the secrets and techniques to promoting, and keeping off procrastination. Written in an obtainable demeanour and brought with a dose of Lebenthal's trademark humor, Confessions of a Municipal Bond Salesman bargains an pleasing and fascinating examine this superb individual-and indicates you ways to take advantage of from your lifestyles.

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70 percent. Tax free. TOUGH HOMBRE: That’s a long time. LEBENTHAL: A long time for what? 70 percent. 70 percent now. 40 percent. Let your grandchildren cash in the bond when it matures and enjoy the appreciation. TOUGH HOMBRE: No, I think I’ll pass. LEBENTHAL: I’m mortified. 30 SELLING TOUGH HOMBRE: The maturity is just too long. LEBENTHAL: That’s because all you’re hearing is the 2008 part. You’re not hearing the 63 cents on the dollar. 5 percent coupon rate, which on 63 cents gives you more return on a current yield basis than anything you’re possibly going to find in your maturity range.

Or I can simply circle you for $25,000 of the bonds. ” But even when I was writing those knowledgeable Lebenthal newsletters, I was actually still learning the business. I had to get educated. And there was only so much I could learn from Mom. Looking back now, I realize I got most of my education in bonds by sitting down, knuckling under, and teaching myself my subject—in the act of getting it down on paper—in the weekly newsletter. Those newsletters told our clients and prospects what to do with their money.

Common stock! Stock exchange! Anathema! I might as well have asked Mohammed to eat a pork chop. As a grown man, having to ask my mother’s permission to go into a bond deal made me feel like a teenager asking Dad for the family car. First comes the lecture, “If you drive, don’t drink. ” Only then come the keys. ” Just as Mother could temper her “yes” with a “but,” she could also turn scolding one of her clients into an expression of endearment. ” She once scolded a village clerk who had gone fishing: “I don’t care if it was your day off.

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