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Every silver lining...

The magic circle partner saying it's not about revenues is not a reflection of the market as a whole - this is not one-size-fits-all. Small falls in revenues year on year soon equate to a shrinking business and a tacit admission that a firm grew too big too fast in the preceding years. Stabilising revenues is just as important, perhaps more so, than profitability (particularly on the rather silly PEP measure). Also, opportunities will come for some in Western markets as some firms fail or waste away.

6-Jul-2010

4:36 pm