Diamond Stability? I Don’t Think So At the recent conference in Tel Aviv commemorating Israel’s 50th anniversary and the opening of the new rough diamond bourse in Ramat-Gan, there were intriguing statements from Anthony Oppenheimer, president of De Beers’ Central Selling Organisation, and Des Kilalea, a financial analyst who follows the giant mining company for Fleming Securities in South Africa. Taken alone, they might be considered posturing. However, taken together they’re important. Perhaps the most interesting presentation was by Kilalea. He made a strong case that De Beers stock is significantly underperforming: “I’m no supporter of investing in a company that has so low a return on assets as De Beers has, particularly if I thought even more of my money would be plowed into assets such as inventory, which I do not believe offer a decent return in the medium term.