Hereâs a hilarious story (via SWF Radar). Libya has a sovereign wealth fund, and Gadhafiâs son said he wants to invest here in the U.S.: Libya wants to open a new chapter in relations with the United States by investing some of its $100 billion sovereign wealth fund in U.S. companies and sending thousands of students to study in America, the son of Libyaâs leader said Friday⦠He said Libyaâs new sovereign wealth fund, a government-owned investment fund with almost $100 billion, âwants to invest here in Americaâ despite the current financial crisis. Because the fund is new, he explained, âwe avoided that tsunami, the big wave. We escaped that risk, and now we are in good shape to invest right now.â Why invest in the United States? âThis is a great country with the biggest economy in the world, with a great opportunity,â the younger Gadhafi said. If some companies are having financial troubles âit doesnât mean the whole economy is collapsing and itâs useless to invest here. Of course not. I think just the opposite. Itâs the right time to invest here.â Thanks Moammar, for helping out a friend in need. Can you talk Ahmadinejad into forking over $50 bil? Detroit could really use it. In all seriousness, congratulations to W. on the rapprochement with Libya, his greatest (only?) foreign policy achievement. http://optionarmageddon.ml-implode.com/2008/11/25/gadhafi-to-the-rescue/
.....when foreign investors get excited about foreign assets, be careful! The "final bottom" isn't in yet.
I remember your last year´s "short" call when all the sovereigns "supported" the investment banks. Very good indicator !