The US pension fund TIAA-CREF is setting up its first overseas office, and it will be in London! Apparently, the money manager wants to invest more in European property. Nothing wrong with that.
But I advise caution. Where exactly in London will this new office be located? As we all know, there is a terrible problem in London with the money ghosts. I have been speaking to award-winning financial psychic Keith Busby, and he told me, 'TIAA-CREF has to be careful. Imagine the fund moves into a lovely old building in the City, and then discovers that the joint is literally bursting at the seams with these evil little money ghosts. It will only take one week before the ghosts will have robbed them blind. I've seen it happen. What TIAA-CREF needs to do is get in touch with me. It'll cost a few grand, but I'm the best in the business. I'll find an office which is completely ghost-free.'
Interesting. I then spoke to Tom Garbutt, TIAA-CREF's global head of real estate, and he told me, 'We ain't afraid of no ghost'.
I think he's been watching too many movies.