EQUITIES Analyst of 2002

Since this time last year – when news of the Enron collapse was still fresh as was the image of the collapse of the Twin towers – the WorldCom debacle, Mr. Grubman and Citibank, Martha Stewart, Global Crossing and the Sarbanes-Oxley legislation have all passed-through against the backdrop of lowering interest rates and a skittish group of world stock markets creating a very thin margin of error for

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