Monday, 12 November 2007

Principal Global Investors looking at alternative investments

Barry Griswell, boss of the Principal Group, says that the asset management arm of the group is hoping to expand into alternative investments. Principal GI may start off with funds of hedge funds.

This is great news, but funds of hedge funds? I think they should be a bit more adventurous than that. Principal should invest in crystal balls. Since William Foster sold his company Crystal Ball Technologies, the market in crystal balls has collapsed. However, I believe this is only a blip. Other occult products are selling well. A company with imagination could revitalize this area.