Ex-CJ bares massive windfall from real estate bet
Working with the country’s top corporations has been a boon to former Chief Justice Artemio Panganiban.
Panganiban said hanging around with some of the best business minds in the country has enabled him to level up his investment game.
“As a side benefit of my service in publicly listed companies, I learned how to invest in the stock market,” said Panganiban in his weekly Inquirer column.
“I chose the listed companies on the bases of their (1) reasonable profitability, (2) growth, (3) public float size, (4) transparency, (5) trustworthiness, (6) good corporate governance and (7) social responsibility,” said Panganiban who is obviously not a tsupitero.
Panganiban, who did not avail of his University of the Philippines scholarship because his folks could not afford the jeepney ride, pointed out that except for felow abogado, GMA boss Felipe Gozon, he only brushed shoulders with bilyonaryos only after his retirement from public service in 2007.
While Panganiban did not say which stocks made him money, he was candid about a real estate which earned him a bundle.
“I invest in real estate depending on their location. Sample: We bought via loans our house and lot in Dasmariñas Village, Makati, in 1979 at P2,000 per sqm. Now, the latest price is P400,000 per sqm,” said Panganiban.
“At that time, proprietary membership in the nearby Manila Polo Club sold for P100,000, and Manila Golf Club at P200,000. Now, it’s P23 million and P60 million, respectively,” he added.