22 de Agosto de 2010
« Cita económica del 21-VIII-2010 | Principal | Estímulos destructivos »
Bitácora de Juan Ramón Rallo Julián
Cita económica del 22-VIII-2010
If any obligation of an enterprise deserves to qualify as a fixed-value investment, then all its obligations must do so. State conversely, if a company’s junior bonds are not safe, its first-mortgage bonds are not a desirable fixed-value investment
Security Analysis, Benjamin Graham & David Dodd, 1940, p. 84
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