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To: MythMan who wrote (4275)	8/24/1998 9:19:00 AM
From: yard_man	Read Replies (2) \| Respond to of 86076

>>The total value of sales of ALL Russian Stocks was about $2 million, when they were reporting an 8% decline. Another fact the total market cap of the Hong Kong Stock Market is about $220 billion and General Electric alone has a market cap of about $270 billion. Just keep things in perspective. Do you have any specifics about possible losses or are you just blowing smoke?? << I assume that you are referencing the above. Sounds low for Russia have to check out the market caps -- you've got me curious.

To: MythMan who wrote (4275)	8/24/1998 9:25:00 AM
From: Joseph G.	Read Replies (1) \| Respond to 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.