The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: RetiredNow who wrote (251063)	5/31/2010 8:50:04 PM
From: Jim McMannis	Read Replies (2) of 306849

You must not be familiar with the old Vancouver stock exchange. plus March was a very bad month for Bre-X investors. On the March 19, 1997, the company's geologist, Michael de Guzman, mysteriously plunged to his death from a helicopter over an Indonesian jungle. If that wasn't shocking enough, on the 26th, investors were rocked again when due-diligence testing revealed that the Busang mine the company was touting contained very little gold. The samples had been heavily salted to make it appear like it was the find of a lifetime. The former penny stock reached a market cap of $6 billion, or over $150 adjusting for splits. After the news broke it dropped down to $2.50 and then was delisted after it fell below a dollar. Many investors, including pension funds, lost millions of dollars.

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