There is a travel book on The Empty Quarter called Arabian Sands. Its author Wilfred Thesiger travelled for weeks in the desert. He had only one glass of water a day in 45-degree heat. He did not have a tent and slept on the sands. The Englishman was ecstatic to arrive in a town where food and water were plentiful. Thesiger’s travels were in 1949. Investors in tech in 2023 may share his elation. Tech has now emerged as an unlikely haven in the 2023 panic.
Fund managers tend to avoid the empty quarter in the Arabian desert. It is an immense area that is larger than Thailand. It has less than 1% of Thailand’s population.
The region has a vice-like grip on the world’s energy. But, most investors would rather follow the oil market on the screens. This is understandable. The heat and isolation in the desert can be unbearable. Travellers used to face certain death if they got lost.
