There are only two Catholic countries in Asia--the Philippines and East Timor. Who is the most Catholic between the two is a toss-up, and the answer depends on who's answering (to appreciate both sides, you may want to click this and this). However, whether one is Pinoy or one is Timorese, since both are Catholics, Good Friday is serious business for both.
I'm not sure just how serious the Timorese are about Good Friday rituals, but in the Philippines, some Pinoy devotees take it to the extreme by donning a crown of thorns, and having themselves nailed to the cross. In one particular case, this 47-year old devotee has been nailed to a cross -- for the 22nd time!
While my family did our traditional Bisita Iglesia (Church Visit) today, I realized that this was a day late (we should have done it yesterday, Holy Thursday) and we visited the church of the Pink Sisters in Tagaytay for the least religious of reasons--it was proximate to where they served the yummy home-grown Carlo's Pizza and the postcard perfect breath-taking view of Taal Volcano (see above photo).
It is, therefore, with a bit of guilt and trepidation that I decided to blog very late today, trying to discover the sunny side of Wall Street, if any. Knowing just how bad things are in Wall Street today, you could say that searching for bits and pieces of good news by itself could already be an act of penance for me.
So, what did I find out? It wasn't easy searching through the online archives of key finance news sites, but I was pleasantly surprised to have stumbled on some. It is not my intention to give my own views on any of these developments (at least for now). I just wanted to list them down here, provide clickable links and brief thumbnail sketches, to help you decide if you'd like to read more about them:
1. Lehman Plans New Distressed Debt Funds
Lehman Brothers Private Fund Investments, the fund of funds division of Lehman Brothers Holdings Inc. has joined the growing ranks of advisors ramping up their exposure to distressed debt in the face of an increasingly uncertain economy.
2. Star Banker Returns to Roots With His Own Venture
Frank Quatronne, a former investment banker whose career was derailed by a four-year fight against obstruction of justice charges, recently formed the Qatalyst Group, a technology-focused merchant banking group based in San Francisco. “I realized I didn’t want to be a private equity guy after all,” he said. “I liked the strategic thinking of playing three-dimensional chess.”
3. Goldman, Lehman prime brokerage businesses see gains
The prime brokerage businesses of Goldman Sachs and Lehman Brothers registered strong gains in the firms' first quarters.
4. Five Sane Alternatives to Hedge Funds
"Market neutral" open-end funds offer hopes of CPI-beating returns with the possibilities of avoiding some of the unsettling vicissitudes of the stock market. These are essentially Everyman's answer to hedge funds.
5. In a Sinking Industry? Jump to Another Ship
As the economy slows and job losses mount, many workers in fields like financial services, real estate and the auto industry are already scrambling for a Plan B. Contemplating the odds that a career switch may be necessary can be daunting. But if you're in a sinking industry or staring down a corporate layoff, there's good news.
6. Boutique Bank That's Riding Out the Storm
A story about Centerview Partners (named for the view of Rockefeller Center from the firm’s 19th-floor offices) which is trying to copy an investment banking model of the 1980s and earlier, before the emergence of financial supermarkets like Citigroup and JPMorgan Chase.
(Photo credit: Tony Medina and Flickr.com)
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