Disclaimers

All rights reserved. Published in the United States. No part of these books may be used or reproduced in any manner whatsoever without written permission except in the brief quotations embodied in critical articles and reviews.

The characters and events in these books are fictitious. Any similarity to characters, either living or dead, is completely coincidental and not intended by the author.

These works of fiction are not intended as an offer, or a solicitation of an offer, to buy or sell any investment or other specific product. The analysis contained herein does not constitute a personal recommendation or take into account the particular investment objectives, investment strategies, financial situation and needs of any specific recipient. It is based on numerous assumptions. Different assumptions could result in materially different results. I recommend that you obtain financial and/or tax advice as to the implications (including tax) of investing in the manner described or in any of the products mentioned herein. All information and opinions expressed in this document were obtained from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to its accuracy or completeness. Opinions expressed herein may differ from or be contrary to those of other analysts in the municipal bond industry as a result of using different assumptions and/or criteria. At any time, my employer or one of its groups may have a long or short position, or deal as principal or agent, in relevant securities, or provide advisory or other services to the issuer of relevant securities or to a company connected with an issuer. Some investments may not be readily realizable, because the market in the securities is illiquid, and therefore valuing the investment and identifying the risk to which you are exposed may be difficult to quantify. Past performance of an investment is no guarantee for its future performance. Some investments may be subject to sudden and large falls in value.