Wednesday, August 2, 2017

Might have to read this bit of history.

Back in my youth, I invested in a Canadian mining company whose main asset was a mining contract in the Kabinda Province in Zaire, while president for life Mobutu was running the country.  At first, the investment turned out well, and the stock went up like a rocket.

Then, defying any logic, a rebel, Colonel Kabila, arose with a native army in the far east of the country.  Slowly, the Colonel and his irregulars marched across the vast country, and the closer the ragtag army came to the capital, Kinshasa, the lower the stock fell.  Finally, I sold as the rebels surrounded Kinshasa and Mobutu fled with his ill gotten millions to France.  My big gain had turned to bitter ashes, and I learned my lesson in African investing in particular, and third world investing in general.

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