Monday, July 8, 2013

"Who said a grenade launcher could not be a perfect financial asset?"

Return with us to those entrepreneurial days of 2009, before they went all murderous.
From the Economic History blog 2Dec2009:
A new form on finance on the coast of Somalia.
I particularly enjoyed this part:
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’.”
HT to Sarah
We were following the investment aspects for our readers and/or the odd wealthy lunatic:

Nov 2008 
Arrgh: 'Pirates Not a Good Long Term Bet'
Dec 2008
Somali pirates set up "agencies" on three continents
April 2009
Obama Reaches Out to 'Moderate' Pirate Community (and we plan to make a buck-o, or two)
Dec 2009 
"Somali sea gangs lure investors at pirate lair" and "A comparison of Piracy and Private Equity"
"Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 'maritime companies' and now we are hosting 72. Ten of them have so far been successful at hijacking," Mohammed said
May 2011 
Big Money: Somali Pirates' Rich Returns
Imagine if you could invest $100,000 to control a $200 million asset for three months and sell it back to the owners for $10 million—tax-free. That's the Somali pirate way 
Aug. 2012 
Piracy 2012: Now With Form Letters, P.R.