From nothing to £180M

[centurian]

Ah, but if you borrow £19 to buy it at £20, and now it is valued at £13, you're not doing so well.

Obviously.

But this couple built up most of their portfolio years ago.

Hence my example is probably more representative of the situation. They bought low, and although prices have dropped recently, they still make a large profit overall.

They would have made more if they had sold a few years back, so their balance sheet would show a year-on-year 'loss' for the past few years.

So the question of how you can make a profit after a crash - depends on when you base it from.