Sometimes it seems to me that investors overlook some potentially high returns by overlooking "boring" companies. Occasionally I even find myself overlooking such companies. I think it's easy to get lost in the exciting share price swings of a company like Apple (AAPL) and while there is great money that can be made by taking advantage of such volatile price swings, it is important to recognize that there are other less "sexy" ways to make a healthy return.

It might seem unbelievable to you when I say that a fundamentally sound company with solid, consistent and guaranteed revenues can be an overlooked stock that trades below $30 dollars a share. However, the Corrections Corporation of America (CXW) is such a company.

Corrections Corp. has solid fundamentals and a history of profitability. Better yet, this privatized prison and jail operator has a consistent source of revenue that comes from contracts with 19 states and the district of Columbia. They operate 65 facilities and house over 72,000 inmates at all security levels.

My favorite thing about Corrections Corp. has to be the consistent revenue inflows. Since they operate under government contracts and have shown a tendency to re-negotiate these contracts in their favor in the face of rising costs, I simply do not see how this company could ever lose money. The biggest burden upon the company's management is to control costs while still maintaining the integrity of their facilities, but they have proven themselves capable of doing just that and the company has thus showed consistent profitability.

Given the above facts many of you must be wondering how is it that Corrections Corp. can be trading at below $30 a share. The answer to that it that because Corrections Corp. has such a consistent and guaranteed stream of revenues, their profitability and return to investors is easy to predict. That predictability is the precise reason that Corrections Corp. is deemed to be a "boring" stock and that is why it is overlooked.

In it's current state, Corrections Corp.'s revenue and profit will remain roughly the stable which would limit the share price growth. So, in its current state I would not recommend CXW for an investor or for a trader because it just cannot offer impressive returns to shareholders.

The reason that I do like CXW for a long term investment is that I think that the privatized corrections industry, of which they are the most dominant player, is destined to grow.