Blackrock Apex Municipal Fund, Inc. (AMEX:APX)
A non-diversified, closed-end management investment company.
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Municipal bonds are not a good place to be right now. The fact that this fund has been around quite awhile indicates that is has had competent management, and they're experienced in "less than pristine" types of bonds. But when the fabled "black swan" lands on your pond, your best laid plans and assumptions go out the window. I live in the same county with Vallejo, and I can tell you that at least two other cities in this county are teetering on the brink (One has already consulted a bankruptcy attorney.). Also in Calif. (down south), Coalinga went under last week, joining Harrisburg, PA, and Hamtramck, MI, on the list of municipal bankruptcies in the last six months. A year from now, local governments will be failing at a rate of one or two a week--and not just small towns either. Losses will run into the hundreds of billions annually.
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IF GOLD GOES UP, SO GOES SILVER AND THIS IS A QUALITY COMPANY. RANKS BEHIND PAN AMERICAN SILVER (PAAS) BUT IS EVEN WITH HELCLA MINING (HL).
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This is a one-star company within 10% of its 52-week high. It's gotta go down some time!
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APEX is going down the drain. They just don't meet the technology requirements of today anymore. They are being outperformed daily by companies like Sony and Toshiba, and they're losing money.
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A power exchange CO. with current and furure groth.
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