The medallion is still a risky investment. The big danger is that the government might well change the rules in the middle of the game. For example, they might double the number available, which would bring down the resale value. Or they might eliminate them entirely, although that's hardly likely.
All investments have risks, and indeed that is an apparent one. Until you realize that it is NYC, a liberal mecca, currently under the rule of Nanny Bloomberg. The city might make more medallions available, but that would mean more cabs on the crowded streets. The real risk is that the city would try to cash in some of those medallions--at the license fee value instead of the fair market value.
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timeasmymeasure
Re: DOESN'T work for me!
Date: 2003-02-08 03:00 pm (UTC)Re: DOESN'T work for me!
Date: 2003-02-08 04:10 pm (UTC)Re: DOESN'T work for me!
Date: 2003-02-08 04:21 pm (UTC)