Diamond Investments

The information highway has spawned a new type of consumer: the informed consumer. I will bet every retailer reading this has had instances when a 20-something walks in looking for a diamond, fully armed with printouts, fact sheets, and prices. Many years ago, Martin Rapaport warned the industry about the commoditization of diamonds. People stopped looking at stones and instead read certificates. There is even talk now of creating a type of hedge fund called a diamond derivative. Can you think of anything more volatile and subject to manipulation than diamonds? De Beers is backing out of the diamond business. It's cutting ties to sightholders of long standing. It can't seem to make up its mind about who it is and who it wants to do business with. Meanwhile, Australia's Argyle Mine is running out of production, Russia has declared it will no longer be tied to De Beers, Canada is runni
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