Bonds: The Financial Kind

by David Jenyns on June 15, 2009

A bond represents a contract whereby the issuing agency borrows money and stands behind such a loan by a pledge of property, so that each bond commonly represents a portion of a mortgage.


If the market price of the common stock, as reflected in its appraisal by the investing public, remains well depressed, the conversion feature may never become of any value to the holder.

Bond investment has always been considered as part and parcel of any program; indeed, as has already been made abundantly clear, the purchase of bonds may be termed the cornerstone of investment. Good-grade bonds, carrying a relatively low rate of return, have had and will continue to possess a high degree of investment stability.

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