Growing a business is typically a costly affair. A retailer that wants to grow would ordinarily have to tie up millions of dollars to hold more inventory. A utility company that wants to grow would have to invest billions to build a new power plant.

But there are a handful of businesses that don’t have to choose between having more cash in the bank and making investments to grow future profits. These rare businesses are what investors call “cash cows,” or companies that offer the best of both worlds…

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