Saturday, February 09, 2002

RP now Asia’s darling of fund managers

The Manila Bulletin reported the above story here.

That explains the call we got recently from a headhunter looking for an in-house counsel for "major Wall Street bond trader." I told him sorry. I have decided I hate corporate law years ago. Yet, it is quite interesting that the perception of the Philippine securities market has changed remarkably since the BW Scam. Personally, however, I have never trusted this business on securities. Retained earnings, book value, market value -- these are layers of concepts that govern the securities business that are very much susceptible to "creative accounting". A lot of people have fallen for it and had disastrous results. I am contented in eking out a living with measly appearance fees and helping justice become a reality one case at a time. (yeah right.)

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