A New Meaning Of Risk
The term entrepreneur describes a person who “organizes and operates a business or businesses, taking on financial risk to do so” (Wikipedia); Michael Stock, a 36 year old American real estate developer and private security contractor is pushing this definition to its limits. His company Bancroft Global Development, trains soldiers in a wide range of skills while its sister company, Bancroft Global Investments operates by financing projects in war zones. Bancroft has built luxury rentals in Afghanistan and is now shifting its focus to Somalia; operating on the belief that all “hot spots” cool down eventually.
Every now and then I come across a story that is truly incredible and this one definitely fits the bill. Bancroft’s performance in the real estate development of volatile areas should be fascinating to observe and I will definitely be staying tuned. This company is making extraordinary, albeit precarious investments… the insurance costs must be astronomical.
Source: The Wall Street Journal