An investment bank wouldnt be doing its job if it didnt advise its clients on where they could potentially make money, and earn a fee from doing so.
So when Euromoney receives a press release from Bank of America Merrill Lynch trumpeting its latest research report on one of the thematic megatrends in which investors can make money, few eyebrows were raised until the subject of the opportunity sunk in global drought conditions.
Apparently, its the latest report from BAML in their megatrend series, which, among issues such as energy efficiency, and safety and security, also includes a report on wait for it obesity.
Its not that we have anything against the provision of detailed, insightful research on the big themes shaping the investment landscape, but it does, on the face of it, look a trifle odd to be outlining where money can be made from an acute precipitation problem.
As far as we can work out, BAML is not advising shorting the stocks of umbrella makers.
However, the bank probably fails to note the irony of it introducing a screen for investors on Bloomberg that identifies "liquid stocks exposed to global drought-related themes".
We, naturally, look forward to BAMLs next report on the theme of the end of civilization and how to make money there too.