Evolution and structure of royalties as an investment vehicle — an unconventional hard asset with inflation protection.
Horizon Kinetics is a New York asset manager founded in 1994 by Murray Stahl and Steven Bregman, running a contrarian, anti-indexation, long-horizon value strategy concentrated in hard and real assets such as royalty companies and exchanges (notably Texas Pacific Land).
本研究报告探讨了版税作为一种投资工具的演变和结构，分析了其作为一种非传统的硬资产和通胀保护工具的特点。
Evolution and structure of royalties as an investment vehicle — an unconventional hard asset with inflation protection.