One the Move — A Look Back in Railroad Investments

by David Jenyns on March 11, 2009

Risky railroads? During 1960, some railroad bonds sank to the lowest price levels since 1939, with most of them now still quoted at wide discounts from par.

In price behavior these medium-grade railroad bonds were seen by Financial World as having occupied a “midway position” between high grade bonds at one end and the more speculative bonds and common stocks at the other.


Municipal bonds are another broad group, many of which are attractively priced, with some of them at substantial discounts. “For example, the purchase of a discount bond means the investment of an amount less than $1,000 or par, the realization over the life of the bond of full stated interest which is a percentage of $1,000, and the redemption at $1,000 of the bond at maturity.

In September, 1960, Goodbody analysts singled out the New Housing Authority bonds as offering outstanding advantage for accumulating an. estate with a minimum outlay. Railroad, airlines, automobiles…the transportation industry never fails to come up with new investment risks and opportunities.

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