Capitalism at work

Thinking of investing your hard-earned cash in Cuba?

Well, here is some handy advice from the experts: it may be better (and safer) to simply buy stock in companies that are already entrenched on the island.

That is the view of Dale Baker, who is described as a private client portfolio manager and former US diplomat.

Writing in the online stock advisory newsletter The Motley Fool, Mr Baker argues that there are more “creative” ways of making money “from the inevitable demise of Fidel Castro and his 48-year stranglehold on Cuba's economy”.

And that’s by putting your money in Sherritt International, the publicly-listed Canadian energy giant.

The very optimistic Mr Baker says Sherritt has been in Cuba since 1994 when the company signed one of those ever-popular joint venture agreements with the Castro regime, to mine nickel.

The company then moved into power generation and other metals, such as cobalt.

In fact, Sherritt is now the largest foreign energy producer on the island – with 40 per cent of its revenues last year coming from its extensive Cuban operations.

Unfortunately, no word on such little details as how much the company pays its Cuban workers. Or whether they get paid in hard currency or worthless Cuban pesos. Or whether the company is free to publicly comment on Cuban policy issues, much as it would comment on Canadian matters.