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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (4275)8/24/1998 9:25:00 AM
From: Joseph G.  Read Replies (1) of 86076
 
I don't know exact numbers for that date, but:
(i) turnover in Russia was very small as reportedly there was no buyers whatsoever - just can't sell.
(ii) Hang Seng was about 2.5% of the world cap a year ago - that was over $600B. Since it dropped over 56%, its cap is ~60% less now.
You can do this math too - eh? -g-

PS. other points to ponder:
- Russia and other small stock markets have usually much more debt outstanding, it goes down almost as much
- in addition, stock markets reflect state of other assets, like real estate and private businesses, which can's be easily valued from far away.
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