| From WSJ: Big Mideast SWFs scale back investments? Last year, officials from the Middle East's sovereign-wealth funds were the rock stars of this Swiss town's annual gathering of economic and political leaders. Housing and banking woes were just starting to emerge in the West, but these cash-rich funds were pumping up their investments.
Now, many have come to regret their big bets. In 2008, the value of foreign assets in portfolios of the Gulf Cooperation Council states fell by $100 billion to a total of $1.2 trillion, not counting the vast personal holdings of their ruling families, according to a report this month by the New York-based Council on Foreign Relations..... Full Article: Source
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