This came as a surprise to some investors and they subsequently lost a lot of money. They didn't believe advisors when they told them to diversify or remember the tech bust of 2000 or the heartache Enron and Tyco shareholders experienced. It is hard to believe that so many people forget what happened less than 8 years ago.
AIG. Largest insurance company in the U.S. and was thought to be on sound financial footing. Stock dropped 97% this year.
Merrill Lynch. One of the largest wealth management firms in the world. Established 94 years ago. Before being saved by B of A stock fell 88% from its peak in 2007.
Lehman Brothers. Established in 1844. Went bankrupt in 08. Stock all time high $86 now worth $0.
Citigroup, the largest bank in the world, down 77% in 2008.
Research in Motion maker of blackberry phones down 65%.
Google down 55% this year.
Do yourself a favor. Don't buy anymore individual stocks. No one is smart enough to know which individual companies are going to be good now or in 20 years. The market, as a whole, has shown that if you stay invested you will earn more on average than any other investment.
Stay diversified amongst different assets and use index funds.