AKP - California Land Of Natural Disasters?

Last week we conducted a review of our California municipal bond holdings along the San Andreas Fault, looking for holdings that may be more susceptible to credit deterioration in the event of a disaster. At the time, little did we know that wildfires would engulf large swaths of California.

First, our hearts and prayers go out to all those affected by the wildfires and their loved ones and friends, including firefighters, volunteers, and those housing the displaced.

We monitor our portfolios on a regular basis. The majority of our holdings are