The Last Emerging Market

Some people put their money in aboriginal art, Danish film projects or ostrich farms. But as exotic investments go, it's tough to beat the latest opportunity on the market: a chance to buy into the totalitarian pariah state of North Korea. London-based firm Anglo-Sino Capital Partners has received regulatory approval from Britain's Financial Services Authority for its Chosun Development and Investment Fund, which is seeking $50 million from investors. The fund promises in a press release to "deliver significant return on investment in the near term," by focusing on North Korea's natural resources, such as gold and other...

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