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Did you know the Irish stock market (ISEQ) has crashed and lost over 40 billion Euro in one year? If your not one of the few stock investors in Ireland then your answer will probably be no. Not surprising since you’re not really being told.
On the 22nd of May 2007 the Irish stock market hit a high of 10,364 and then crashed to a low of 6,281 in November. That was a 4,083 point drop in a few months, a loss of -39% or approximately over €40,000,000,000. During the last 12 months Bank of Ireland went from a high of 18.83 to a low of 8.80 a lose of -53%, AIB went from 24.39 to 12.87 a loss of -47%, Irish Life & Permanent TSB went from 23.09 to 10.90 a loss of -52% and the list goes on.
Let’s not lose sight of how much money was wiped off the market. Let’s put things into perspective:
A billion seconds ago it was 1959.
A billion minutes ago it was the time of Jesus.
A billion hours ago our ancestors were living in the Stone Age.
A billion days ago no-one walked on the earth on two feet.
40 billion Euro ago was only a few months back.