Continued from part one… In this article, I’m coving an article written by Benjamin Graham called “Bargain Hunting Through The Bond List,” which gives us a great insight into his analytical mind. [timeless] Q2 hedge fund letters, conference, scoops etc Up next are the Chile Copper Convertible 6s, due 1932. Following the end of the First World War, the value of these bonds had slumped to 84 ½, giving “a straight yield of over 7%, which the amortization of the large discount brings up to about 8%.” This low price is a result not of the company’s poor financial situation,…
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