One of the biggest business stories of the year has literally been buried by the media — and it could cost you a lucrative opportunity.

On July 9, the China Investment Corp (CIC), the country’s $200-billion sovereign wealth fund, said it will start investing in global equity markets through its overseas asset managers, according to the China Securities Journal.

CIC said it will allocate $250 million to eight different overseas asset managers.

Why Big Media didn’t play this up more prominently is a real joke. CIC is the world’s sixth biggest sovereign wealth fund (SWF). The decision to start actively investing in emerging market equities is a clear indication that emerging markets cannot be ignored.

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“I’m as mad as hell, and I’m not going to take this anymore!”

That outburst is enshrined in movie history. It’s from the 1976 satire “Network,” which went on to win four Academy Awards.

The now-famous line gave fire to a diatribe by a news anchor named Howard Beale with declining ratings. Played by the great Peter Finch, he urges Americans to yell it out their windows during a dazzling lightning storm.

Beale rants “Everybody knows things are bad. It’s a depression. Everybody’s out of work or scared of losing their job. The dollar buys a nickel’s work, banks are going bust, shopkeepers keep a gun under the counter. Punks are running wild in the street and there’s nobody anywhere who seems to know what to do, and there’s no end to it. We know the air is unfit to breathe and our food is unfit to eat, and we sit watching our TV’s while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that’s the way it’s supposed to be.” Continue Reading »