the school yard

Alexandra & James, the Lebenthal’s family wealth advisory business, continues to recommend that its clients buy munis. There are some cities and states which the firm avoids, but Lebenthal continues to recommend double-A and triple-A bonds. Investors should not sell, she added, regardless of Whitney’s warnings.”I don’t dispute her knowledge of the investment banks, but she is not a municipal bond expert,” Lebenthal said. “I would put any muni analyst in a room with her — on TV, outside in the school yard — and see who comes out ahead.” [Reuters via BI]