Loews Corp. (NYSE:L) CEO James Tisch, said in light of the plunge in yields of municipal bonds and Treasuries, investors should look at stocks like Exxon Mobil (NYSE:XOM) in the near term.
In a Bloomberg interview, Tisch said, “There are equities that are rather intriguing, especially when compared to fixed income. When I look at what we’re earning on T bills and round it to the closest whole number, it’s zero.”
“We’re actually investing in stocks, in large cap, good dividend-paying stocks,” added Tisch. “Who would have thought five or 10 years ago that a 3 percent yield on a stock would be a good yield? But actually today it’s a very good yield.”
The dividend yield for Exxon Mobil is 3 percent as of Tuesday's closing at $58.94, along with a payout of 54 cents a share.
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