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why is the Saudi Arabia sovereign wealth fund such a huge source of dumb money? Because they never earned that money via ingenuity, it is rent paid by foreigne
by goatinaboat 7y ago
why is the Saudi Arabia sovereign wealth fund such a huge source of dumb money?
Because they never earned that money via ingenuity, it is rent paid by foreigners for access to natural resources. It makes sense that they never learnt to invest wisely. Contrast with the Norwegians who extract their own oil with their own skill and technology.
- nojvek 7y agoThe Norweigeian is truly a testament to their government. No shortcuts. Invest the oil money in a broad portfolio ~10k companies for the benefit of all future and current citizens. https://www.nbim.no/ https://www.nbim.no/ Truly amazing.