Commodity futures trading – Income means cash dividends.

Capital appreciation means an increase in the market price of a stock. Safety means maximum insurance against loss of the funds invested. Many securities may seem to mingle these objectives. It is quite possible for an “income stock” to rise in value or to have a high safety factor, and for healthy dividends to be paid by a stock purchased primarily for capital appreciation. It is also not unreasonable to buy one stock for income and another for growth. But one point of view should prevail as to the primary function of any stock held.

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[tags]Commodity Trading Book[/tags]