Thursday, January 17, 2008

OUCH!

It's another busy day in the investment world. I've stopped looking at my portfolio as I believe if I continue to look at it, I may cry. It's seriously sad. Should have sold everything on December 31st. ha! If only I had the foresight.

I wouldn't say that I am proactive about following the stock market. It's more a perk of the job, I suppose. Indeed, we don't work in cubicles here. The atmosphere is very open with constant dialog flowing from all corners of the room and if it's not a staff member, it's CNBC speculating on the market woes.

There have been comments from CNBC about a recession. I'm not sure I'm quite convinced, but you can't ignore the comments as we have lost over 6 percent on the S&P since the beginning of 2008, which was only 2 weeks ago, and I know some of our more concentrated portfolios are down over 10 percent. I try not to look at the performance of my portfolio as I'm in the market for the long haul, but it's hard to ignore. Dad always says that you want to preserve capital, which I agree, however, taxes on some of those gains may hurt more than sitting in the market through this rubbish.

On another note: Today my banana sticker says, "Guilt-Free Snacking". Perhaps it thought I was worried. ;) Thanks Chiquita.

New Quote: "The thing that is really hard, and really amazing, is giving up on trying to be perfect and beginning the work of becoming yourself." - Anna Quindlen (writer)

3 comments:

HappyBunny said...

everybody got hit. :) no worries. Just think it this way, it opens opportunities for some value stocks to fall below their intrinsic value.

HairTwirler said...

Thanks for the comment. I was pleased to see you interviewed at Georgetown- hope it went well! If I can answer any questions, please let me know. I can be a bit slow in responding, but I will respond!

globetrotter415 said...

down 400 pts, up 300 pts, down 300, up 400, pull back to even...

i've never seen market volatility like this. someone out there is making $$$$$$...unfortunately not me. my bet is on the goldman traders.