“An investment operation is one, which, upon thorough analysis,
promises safety of principal and a satisfactory return. Operations
not meeting these requirements are speculative.” - Benjamin Graham
Wednesday, September 26, 2007
Railroads: Following Buffett's Latest Move
The Texas Hedge Report has come out with a new letter discussing the railroad industry, and what has changed, in some detail. Thanks to Lincoln Minor for bringing it to my attention.
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