I'm a newcomer in this "Market thing", and I'm learning from books and videos. I'm currently reading "The Intelligent Investor" and I don't understand the following sentence:
In 1925, plowing through the obscure reports filed by oil pipelines with the U.S Interstate Commerce Commission, he learned that Northern Pipe Line Co. - then trading at $65 per share - held at least $80 per share in high-quality bonds. (He bought the stock, pestered its managers into raising the dividend, and came away with $110 per share three years later.)
Starting from "he learned that Northern Pipe Line Co." I don't get the logic. English is not my native language, maybe that's the problem here. Can you help me understand this? Thanks!