Top 1000 Funds: “The diamond-water paradox,” or “The Paradox of Value”, first pondered by the founder of modern economics, Adam Smith, in the 1700s (and featured much more recently on the US National Public Radio program Planet Money), is due to the widely held perception by investors that water is an abundant and endless resource with minimal value. But in a world of rising global water demand and climate-driven water stresses, that’s a risky bet. More than ever, water’s true value as a finite and precious resource is starting to be realised, and a growing number of investors are paying attention.