h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

Entry: Andrey Demin and his contribution to the national valuation profession – an obituary. - A14159117
Author: Gardener - U196976

I would be glad to have an Entry of the following nature written by me included into the UnderGuide,at least because of its factual merits and dutiful charity and appreciation,that it behooves for me to express, having known the deceased quite fairly and having served under him, and of others to possess at perusal of this. I would really appreciate if you oblige thus.

Thankyou for posting this here, Gardener - I found it very interesting indeed, in no small part because it was an insight into a subject about which I knew nothing in advance of reading it.

I'm not sure the UnderGuide would be the best place for it (though because pieces are selected for the UG by roaming Miners, all with their own opinions, others may be along who disagree with that) - the fact that it is an obituary makes me think <./>ThePost</.> might make a better host for it.

Since the subject of valuation in modern Russia is something in which you clearly have expertise, have you considered writing something for the Edited Guide on it?

Thank you for your advice to send the Entry to the Post,though it looks strange to me to have to deliver it via ordinary E-mail (I sent both the Word-file version and the Web-page copy of the Entry that I previously saved onto my hard drive- is it a correct way to send the submissions to the Post?)
As regards the valuation in Russia, I own I am baffled by your request to write something on the subject. Generally the topic is extremely tricky one, and I am not sure that its general coverage (which is easily obtainable on www.mrsa.ru) will be of interest to many on H2G2. Basically, it is just the industry,like scores of others in consulting (for example, accounting, audits, legal services etc.). It is by now quite prevalent and well-developed in Russia, struggles for self-regulation as opposed to state licensing (recently attaining it). Reasonably lucrative, too. (With an average cost of a business valuation (usually a written report of upwards of 100 pages) of at least 5000 USD.
There is one, Sam Vaknin, among the ranks of H2G2 membership who ventured to some lengths into the subject. If you want to know what has come of it read Entry ID: A917921 "Stock Valuation". Not in the least romantic, isn't it? So I don't think another abortive attempt of such a nature is called for, when trying to expound upon the nuts and bolts of valuations, being a thing for which a specialist's expertise is required (though I always maintained that you can teach a schoolboy to do it in 5 months). General coverage of valuation issues can be obtained in an excellent set of the International Valuation Standards (General concepts and Principles Section)- available at www.ivsc.org
What is of interest,however, is the ethics of the profession, which lies in consequences of badly prepared valuations (though these days such consequences are less pronounced), but during the privatization years those were really blighfull and buccaneering (Treasonous - would be, perhaps, a better word - but "treason does never prosper what is a reason, for if it were to prosper none would dare to call it a treason"). Perhaps I can relate many instances and anecdotes about transgressions heretofore involved in commissioning of valuations, to make some contribution which is not boring for general reader. But I have to act discreetly at that: for a good analogy to furnish an idea of the dizziness of the senses involved, suppose that somebody gives you a right to buy a car that costs 10 000 pounds at 500 pounds. Such things are not naturally sanctioned in market economies,except by way of exception in ruffles. But in certain moments of history in certain places they become norm. And, depending on the outlook, it might as well be hell as heaven, for when not cars and mere tiddlywinks are involved, but whole industries, cities and people, those latter,who are supposed to benefit, suffer in many invisible ways, not traceable immidiately to the erring ways of valuers,who were,nothing but calculating machines within neo-bereacracies to be, albeit with free-will. But it is hard to say that benevolent exercise of this will had any significance, for there is always a third man in a pond full of scum.
Better leave elucidation of irregularities of such nature to Sam Vaknin again who has, as it looks from his H2G2 Entries, nearly a first-hand and detailed knowledge of Russian Privatization but has a benifit of living out of the country and whose eloquence by far outweights my abilities. I do not think that H2G2 will approve my encroaching on his province.

I wasn't aware of the Entry you linked to - thankyou for that - I do note though that the author hasn't posted for over three years, so I wouldn't worry about 'encroaching' as such.

Maybe you're right: it's just that it's an issue that tends to be reported in the British media in terms of broad abstractions rather than much in the way of facts and figures, or anything very specific. The Edited Guide should be a broad church, inclusive of all sorts of subjects which may not appear to have appeal nevertheless *made* appealing, particularly if they are of such relevance.

After all, the Researchers are what make h2g2 - I'm one, you're another. This is clearly a subject about which you know a good deal: your analogy is very striking and again, makes me wish I knew more.

But please - I don't mean to be pushy! Thankyou again for posting the Entry here.