Wednesday, January 24, 2018

Does NIF stand for Now Is Failure?*

Anyone who has followed my commentaries over the years would know that I am a huge proponent of the “widest possible public participation” of T&T citizens in the ownership of local shares.
But I am also a proponent of individuals using share ownership to build their wealth over time, as investment in stocks or in stock-based mutual funds are one of the few ways available to locals to protect their money from the ravages of inflation over time.
I view Prime Minister Keith Rowley’s touting of the National Investment Fund (NIF) as possibly achieving one goal—“the widest possible public participation in ownership” of local shares—but not the other, which is building individual wealth over time.
The NIF will include Angostura and Home Construction—some of CLICO’s shares in those companies have already been transferred to the Corporation Sole.

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