Thank you for a nice explanation. Thing is that nobody will sell you a perpetual bond (especially one indexed by inflation), while you can buy "perpetual" stoc

Thank you for a nice explanation. Thing is that nobody will sell you a perpetual bond (especially one indexed by inflation), while you can buy "perpetual" stocks. Some companies pledge to pay dividends every year (what of course can be changed when they have a bad year as you explained). But realistically you wont get a perpetual bond, especially a safe one easily because noone is insane enough to offer it. While you can get stocks. Conceptually some elecricity company can pledge to pay dividends every year and probably will do, since their business is not going anywhere soon. Few months ago somoene here posted a discussion about royalties that kind of work similar to a perpetual bond https://news.ycombinator.com/item?id=31112411 https://news.ycombinator.com/item?id=31112411 but again it is a very rare thing... Best proxy for a perpetual bond are stocks, for me conceptually it is very close, since perpetual bonds are not offered by anyone.