China’s Ping A Insurance lost $1.15 billion in one quarter. Last year during the same quarter, the company made $700 million or so. That’s quite a turnaround, no? BTW, how much money does a company have to have in the bank to be able to absorb this kind of loss anyway?

The problem – a loss in its investment of Belgian-Dutch financial group Fortis.

The Ping An group has lost 56% in value on its shares in the past three months. That’s good news. The standard has been a loss of 60% for mainland companies listed in Hong Kong.

And, these losses…still haven’t changed my life.

I want the $700 billion back.

If the Bible were written today, it would say something like “Lay up treasures for yourself in heaven where stock market crashes have no affect on you.” That would be me.

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