Subject: Re: muni time

w/out going into the allocation justification...

being overweight MM past ~3 yrs is now spitting out too much taxable cash at marginal fed (not 15% div !) rates.
state rates are piddly add-on for me, and also looking for family member w/no state inc tax.

funds that mandate sticking to muni index\agg PROFILES (duration,quality,etc..) are not 'active', regardless of what they choose as benchmark (usually the same as profile).