Foreigners, who almost by definition have less local knowledge than locals (duh), are more likely to be stuck overpaying for less than premium assets, rather th

Foreigners, who almost by definition have less local knowledge than locals (duh), are more likely to be stuck overpaying for less than premium assets, rather than getting the prime ones. The most talked about European investments in the US as of late seems to have been in Chrysler and subprime mortgages. Hardly stellar examples of high return assets. Hollywood has been riding high on this principle for decades, sucking in foreign money like a turbocharged vacuum cleaner on crack, and promptly distributing it to themselves, their lawyers, surgeons, trainers and decorators, as salaries and bonuses. All the while, the local insiders/studios keep the choicest releases to themselves. They only need financing 'help' for the risky, read subprime, stuff. What's really sad, for European savers at least, is that despite being fully aware of this, their homegrown movie industries continue to be an even shittier bet.