A Small and Hardy Utility
For investors concerned with achieving a growing stream of income - utilities have always been quite popular, particularly in low interest rate environments where conventional fixed income investing is often unrewarding and potentially fraught with risk. Utilities offer investors an attractive proxy for achieving stable and growing returns over time due to their essential nature.
As many investors have invested in common shares in utilities as a proxy for a "super safe" investment, the increased demand for those shares both drives up the price and drives down yields. This makes conventional wisdom increasingly suspect and thus increases the risk of unjustifiably high prices and unacceptable volatility - two things which are the bane of risk-averse...
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