Saturday, September 18, 2010

Current events

I have been teaching a little more than usual lately. This has provided me with more money but less time. I miss the days where I sit around and think big (or small) thoughts. I have concluded that money is overrated. It is just that I need it to live in such an expensive place right now….so I suffer!!!

Here are the highlights of what I find interesting right now.


Plans for the Angolan Stock Exchange continue. The minute the Angolan stock exchange opens, I am there!


The African Stock Exchange Association (ASEA) meeting will be held in Livingstone, Zambia, 11-12 November 2010. I was in Livingstone over the summer thanks to a friend who knew I could not make the conference this year. It is a very lively town. I spent many hours at the airport there where a very friendly curio shop owner assured me that to sit in the sun thinking about my problems was no good…instead I must shop!! I swear I never really do get very far away from Orange County, California. Retail therapy is pervasive I suppose. I assured her that I had no problems and I also had no kwacha. It was a small lie. I used my last kwacha to buy a Mosi in the airport…maybe two.

Of interest is the fact that the recently ousted head of the Nigerian Stock Exchange, Prof. Ndi Okereke-Onyiuke, was the head of ASEA. We shall see (vicariously) what happens in terms of appointing a new head of the organisation at the upcoming meeting. I cannot attend because of my teaching commitments. I do not think I will miss much this year but I will try to attend next year if possible.

In the United States, securities arbitration-the resolution of disputes between investors and stock brokers by arbitration- may be threatened by the new Dodd-Frank Wall Street Reform Act. This would be a remarkable development. Securities arbitration has been the mainstay of dispute resolution for brokerages for many years. This change would signal a major shift in confidence in credibility in this kind of dispute resolution governed by the Financial Industry Regulatory Authority.

I will be focusing on securities arbitration in next few weeks so I hope to post about these and other developments here.

I have been spending most of my time in the US these days and I suffer from the deprivation of input and alternative perspectives. I will spend some time in New York City soon but I am afraid that will not do the trick. I hope to spend some time in London soon. I miss it like a victim of Stockholm syndrome.


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