12-13-2021, 05:02 AM
Time is indeed the magical ingredient. I've got a few even better examples of some long-term investing.
-There is a perpetual bond owned by Yale university, on which they still collect interest. It's a bond issued by a Dutch water board to gather financing for improving the local dike & canal system. The payout is not much, apparently around 10 euros annually, but the bond still pays it out. Obviously this doesn't have much financial value, but a ton of historical value. The year the bond was issued? 1648.
https://news.yale.edu/2015/09/22/living-...s-interest
-Also, apparently most of the real estate in the center of Venice, Italy, is owned by one family. It's hard to find info since they are very low key, but the rumor is that their ancestors bought up a lot of the prime real estate there hundreds of years ago, and the family has simply sat on that real estate and collected rent for centuries. Can't find a source on this now, I'm getting old so it can also be that my memory is playing tricks on me.
-There is a perpetual bond owned by Yale university, on which they still collect interest. It's a bond issued by a Dutch water board to gather financing for improving the local dike & canal system. The payout is not much, apparently around 10 euros annually, but the bond still pays it out. Obviously this doesn't have much financial value, but a ton of historical value. The year the bond was issued? 1648.
https://news.yale.edu/2015/09/22/living-...s-interest
-Also, apparently most of the real estate in the center of Venice, Italy, is owned by one family. It's hard to find info since they are very low key, but the rumor is that their ancestors bought up a lot of the prime real estate there hundreds of years ago, and the family has simply sat on that real estate and collected rent for centuries. Can't find a source on this now, I'm getting old so it can also be that my memory is playing tricks on me.