Biggest loss in market history
The third quarter of 2018 was not a good one for Facebook. It was hit by a roughly $90 billion loss, the largest single absolute dollar value loss of any company in US history. That grabbed headlines, because that's the sort of thing which grabs headlines. The reality was that it wasn’t as bad as that initially thought for typical investors. Big single day declines in nominal dollars are irrelevant in comparing with history, since they do not adjust for price inflation. But still, it was a bad day for Facebook investors, which, thankfully, did not include anyone who uses our indices. We had Facebook at a zero weighting in both our forensic index, FLAGLSX and in our long-only VCUSX. Facebook is the blue line. The red line is the Dow.