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Knowledge-Based Approaches for Evaluating Municipal Bonds

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Municipal bond analysis requires a sophisticated mix of quantitative and qualitative techniques fortrading and management activities. Even though much of the quantitative component isautomated and enriched by a tremendous amount of data, much of the critical buying and sellingdecisions are based on individualized, qualitative judgments.The actual use of formal quantitative portfolio models vary from institution to institution. At oneextreme, typified by rigorous investment constraints, the model recommendations are followedprecisely. In most cases, however, the model recommendations are just — recommendations.The model outputs, based on information available to it, are “guidelines.” All decisions relies onthe judgment, experience and intuition of the...
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Knowledge-Based Approaches for Evaluating Municipal Bonds

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