New alternative investments
My Reuters news-feed gave me this rather odd piece of news: in the Somali city of Haradheere, pirates have set up an investment market to fund their ship hijackings
“We started with 15 ‘maritime companies’ and now we are hosting 72. Ten of them have so far been successful at hijacking… The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials”…
“Piracy-related business has become the main profitable economic activity in our area and as locals we depend on their output,” said Mohamed Adam, the town’s deputy security officer. “The district gets a percentage of every ransom from ships that have been released, and that goes on public infrastructure, including our hospital and our public schools”…
Piracy investor Sahra Ibrahim, a 22-year-old divorcee, was lined up with others waiting for her cut of a ransom pay-out after one of the gangs freed a Spanish tuna fishing vessel. “I am waiting for my share after I contributed a rocket-propelled grenade for the operation,” she said, adding that she got the weapon from her ex-husband in alimony. “I am really happy and lucky. I have made $75,000 in only 38 days since I joined the ‘company’.”
I wonder how long it will take for investors in guaranteed-rental investment properties, high-yield finance companies and other such exciting opportunities to jump in.
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