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Ergo, if you bought the stock on the IPO but failed to flip it, you are now sitting on a paper loss of 21%.
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The market has in the past struggled to support more than one daily paper, seesawing between two loss-making operations and a single profitable monopoly.
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Steve Forbes, the onetime Republican president candidate, predicted in 2011 that loss of confidence in paper currency would force the U.S. to return to the gold standard after the 2012 election.
WSJ: Gold Plummets to Two-Year Low
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With no paper trail investigators are at a loss.
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The second paper also failed to find statistically significant weight loss in a similar study on teens, except for one subgroup.
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Individual investors who now face a paper (or worse, a realized) loss of 50%, are upset and looking for someone to blame.
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This loss of entrepreneur confidence in the system will ultimately accelerate the demise of all paper currencies.
FORBES: Paul Krugman And The Road To Serfdom
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And Nationwide's balance sheet, on paper at least, is stronger than that of any of the big banks, with loss-absorbing core capital equivalent to 12.5% of risk-weighted assets, 2.5 percentage points higher than the banks' capital ratios.
BBC: Will Northern Rock be re-mutualised?