One of the famous sayings of Warren Buffett — chairman and founder of Berkshire Hathaway, the greatest investor of all time, and the richest man in the nation except maybe for Bill Gates — is that investors should know their limitations.
What does the dealer earn in the sale of municipal bonds? Why is the transaction cost never listed when prices for bonds are quoted? Are individual dealers able to set their own prices for the bonds they offer? How much of a cut do they usually take?