Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

merger with UP

Long Ideas

Kansas City Southern: A Railroad in Decline?

The situation at Kansas City Southern should make investors reconsider the notion that railroads are a value investment. Changing economic conditions are calling that value theory into question. Political conditions and the potential of major technological disruption; in the form of innovations like Hyperloop, make railroads a far riskier investment than they once were.

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