Did you know corporate taxi medallions in New York City fetch close to $1M?
Continuing to look at alternative investments, I stumbled upon investing in taxi medallions. The data show that a NYC taxi medallion would have returned 16% per year on average for the past 60 years — smoking traditional asset classes.
Medallion Financial’s (Nasdaq: TAXI) CEO, Andrew Murstein joins us to talk about the particulars of the taxi business and how he’s grown his firm into the largest financing arm of taxi medallions.
- how to purchase a medallion
- how much a taxi driver makes
- how to finance a medallion
- why industry dynamics have made taxi medallions great investments over the long term
- what the future holds for the investment