So why should investors (and others) keep the faith?
- Because anyone and everyone makes money in a bull market and a bubble economy; it's how they do in a bear market, when the chips are down - and so far so good - that separates the weak from the strong...
- Because fuel prices won’t stay low forever (just wait…), and within the broad multimodal traffic declines smart bi-modal carriers are planning a more rail-centric future.
- Because the Obama administration will be good for rails (think stimulus, infrastructure and green).
- Because public-private partnerships are about to be a big part of the next transportation bill.
- Because rail infrastructure is cheap infrastructure (from the point of view of broke governments), and tax-paying rights-of-way will be increasingly seen as better than tax-absorbing highways.
- Because the green movement is a positive for low-emission rails even as it challenges high-emission coal.
- Because “pure” domestic intermodal growth will be explosive in the next cycle.
- Because rails can help stimulate the economy, facilitate trade and lower total logistics costs.
- Because the “Renaissance” is extending to passenger rail and that will help all rails.
- Because this too shall pass … .