Editorial

2008 Annus Horribilis

January 04, 2009 | By S Chidambar

The year 2008 could justifiably be termed the “horribilest” in recent memory for corporate finances and market capitalisation. According to an estimate, some US$ 14 trillion was wiped off world share values during the year and many venerable institutions and so-called bulwarks – especially financial companies - bit the dust, went broke or had to be resuscitated with financial sops and/or massive doses of injection of government funds. As measured by the MSCI index, global stocks declined by a record 44 per cent during the year. ...cont´d

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