London, GB | Formerly of New York, Buenos Aires, Fife, and the Western Cape. | Saoránach d’Éirinn.

Cross-Border Raids into Finance

The St James’s offices of Aim-quoted Cluff Gold in London resemble an explorer’s den: an antique globe, exotic objets d’art on the walls and a bust of Jan Smuts, the South African statesman, greeting visitors in the corridor.

It is the work of Algy Cluff, the buccaneering 71-year-old chairman of the west African gold producer. Just returned from shooting guinea-fowl in the Kalahari Desert, Mr Cluff’s air of patrician derring-do could have been sketched by the pen of Evelyn Waugh.

Having worked in Africa long before it became a fashionable investment destination Mr Cluff is modest about the key to success in frontier markets: “Good manners.”

It used to be the certifiable Cusack position that the realms of finance & business were dead dull and to be avoided at all costs. I do read the Financial Times fairly often — especially for its praise-worthy and restrained weekend edition — but I’ve always steered well clear of the Companies & Markets section that appears in the paper’s Monday-through-Friday editions. A week or so ago, inspired by some bizarre exotic curiousity, I wandered over the borders into the territory of Companies & Markets for the first time, and was fascinated by the intricacy of what I found, as well as how interesting it all was.

Also, when younger I thought only boring people went into finance, but after graduating from university and seeing everyone toddle along their various paths, I find that about half the fun and interesting people I know have ended up doing somethingerother financial — another assault on Cusack’s anti-finance defences. I am aided in my exploration of this intricate world by a nifty little book I’ve stolen from a friend’s collection: How to Read the Financial Pages by Michael Brett; basically finance for layfolk such as yours truly. And of course I am still enjoying Philip O’Sullivan’s Market Musings.

Admittedly, much of this is sparked by the initial public offering of Glencore. There’s something splendidly boyish and fun about commodities (especially gold, as the above-mentioned Mr Cluff surely knows) and Glencore’s massive corner of the global commodities market is truly beyond the dreams of avarice. There is, apparently, gold in them thar hills.

Published at 7:30 pm on Tuesday 31 May 2011. Categories: Errant Thoughts Tags: , .
Comments

Don’t forget who bought most of the Financial Times you have read in your life!
Yes, finance can be interesting, and there are a higher than usual number of characters in the sector…

— John Cusack 3 Jun 2011 12:20 am

Tsk tsk. What a deplorable descent into the realm of the mundane.

— L Gaylord Clark 3 Jun 2011 5:42 pm
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