Not necessarily. It just means that the market capitalization of these firms dropped by 77%. If you had invested in these 100 firms, then yes, you would have seen your portfolio valuation in these stocks drop by 77%. In the case of DRV, we have seen about a 92% drop in the valuation from the peak of 2008 of $1.42 and yesterdays SP closing price of $0.115.

"....based on their need to protect themselves". Not sure what you mean by this. Who is protecting themselves?

Trainboy