Not only that, but when you look at peak prices, you have to take into account the volume traded at that price. Theoretically, for stock X, you could have a si

Not only that, but when you look at peak prices, you have to take into account the volume traded at that price. Theoretically, for stock X, you could have a single trade for 1 share at $100, while the pension funds bought in mostly at $45. If X trades at $35 now, $65 off its high, you can't conclude that pension funds have lost $65 per share across all of their shares.