The Transport Bull Market: It’s Official. It’s Amazing
May 20th, 2008 | By Brian Hunt | Category: Stock Market InvestingWarren Buffett knew what he was doing when he bought railroads.
Last year, the world’s best investor bought stakes in several U.S. railroads as a play on their near-monopoly power in transportation.
Like all transport companies, railroad shares suffered during the credit crisis. Now… as things go from “bad to less bad” for the U.S. economy, railroad stocks have powered a huge rally in the Dow Jones Transportation Average. We pointed to this rally last week and said things aren’t as bad as most think.
Yesterday, the transports said things aren’t just “not bad,” they’re getting pretty good. The “transports” reached an all-time high. This index depends on demand for goods and commodities shipped by rail, road, air, and water. This all-time high tells us business is booming.
Source: He Transport Bull Market: It’s Official. It’s Amazing
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