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The Cyprus Disaster Zone Reopens

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In fact, it looks like the biggest stock market collapse in all of history as measured by an index. Our abacus confirms that the decline since the 2007 high now amounts to – hold on to your hat – 98.2%. Or putting it differently, anyone who bought the top has 1.8 euros left of every 100 euros he put in (provided he bought a 'well diversified' portfolio not overly concentrated in the biggest losers). And if he recently sold, then potentially 60% of that just got destroyed in a depositor haircut, so a possible worst case scenario is that he has now only 72 cents left.

http://www.acting-man.com/?p=22475

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