George Economou, is one of the new investors in the world of drilling. His more than 400 million USD invested on the Norwegian Ocean Rig, it is not an isolated event but an international investment trend exceeding 2,000 mill. USD, last year. For 2008, is expected even greater arrival of capital. Everyone has already calculated that the future profits do not depend so much of the actual extractions but of new drilling operations.
The common factor in this new capital affluence, it is that more than 50% comes from investors with sea operations. Probably searching synergies and greater challenges in business related fields. And the rest, through investment funds, sovereign and commoners, as well as large portfolios, little individually as in the rest of the Stock Exchange actually. This is, fortunately, one sector not edible to hedge funds due to its low free float. Nor is interesting to derivatives markets, capable of ruin anything they touch and generate multi-million dollar loss in large institutions.
Welcome Mr. Economou, I wish you can find the kind of challenge and financial satisfactions you are looking for.
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