Why did corporate bonds develop?
The advantage of stocks over bonds: if the customer whose junk mail kept that $10 million press running 24/7 decides he’s going to stop selling his product through junk mail and have Vince the ShamWOW guy sell it on late-night TV instead, you’ve still got to make your bond payments. With stocks, you stick ’em out there, get your money, you’re done.
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- Why did corporate bonds develop?
