If I were to buy a stock of a business that were to live (and grow steadily) indefinitely, and this stock paid no dividends, and could not be sold back to anyone else, what would be the point of buying it?
Because it seems to me, if I cannot sell this "piece of paper" (the stock) to someone else later for a higher price, and if the stock pays no dividends, then there is no profit I can earn by owning this stock. Is my reasoning correct? Or is there a possibility of profit somewhere that I just cannot see?
Thank you for any help. All help is greatly appreciated.