  In this paper we propose a framework that enables the study of large
deviations for point processes based on stationary sequences with regularly
varying tails. This framework allows us to keep track not of the magnitude of
the extreme values of a process, but also of the order in which these extreme
values appear. Particular emphasis is put on (infinite) linear processes with
random coefficients. The proposed framework provide a rather complete
description of the joint asymptotic behavior of the large values of the
stationary sequence. We apply the general result on large deviations for point
processes to derive the asymptotic decay of partial sum processes as well as
ruin probabilities.
