Gmt's Net Worth for May 2009


Assets Value Change ($) Change (%)
Cash $615,138 ($130,981) (17.55%)
Stocks $0 - -
Bonds $0 - -
Annuities $0 - -
Retirement $95,163 $4,833 5.35%
Home $1,100,000 - -
Other Real Estate $0 - -
Cars $59,000 ($1,000) (1.67%)
Personal Property $0 - -
Other $843,162 - -
$2,712,463 ($127,148) (4.48%)
 
Debts Value Change ($) Change (%)
Home Mortgage(s) $417,000 - -
Other Mortgage(s) $0 - -
Student Loans $0 - -
Credit Cards $0 - -
Car Loans $0 - -
Other $0 - -
Total Debts $417,000 - -
Net Worth $2,295,463 ($127,148) (5.25%)
*All values shown in USD ($)
Notes:
To my surprise, the market just keeps going up. The DOW gained 4.1 percent and the S&P gained 5.3 percent for May (both on the back of incredible two-month gains), while the Nasdaq still managed to climb 3.3 percent. For the year, the DOW is down -3.15 percent, the S&P is up +1.76 percent and the Nasdaq is -- get this -- up +12.5 percent! I have stood firm in the bet against the financials via FAZ (3x Short Financials) and am now sitting on a (paper) loss of about $217,000. $200,000 is a lot of money. Hell, $17,000 is a lot of money. It makes me sick to think I've been so "wrong." And I put "wrong" in parenthesis because the market, by definition, is "always right" regardless of what the other facts or data tell you. I'm "wrong" to the tune of $200,000, for now. Anyway, everything else is going well. The house is fantastic and I am beginning some remodeling which will ultimately cost about $200,000 when complete. Ironic, huh?

Comments

1/2/2019 7:32:48 PM auzzieyank
Hopefully you won't make this same mistake in 2019.
1/4/2019 5:28:37 AM gmt
So that was (obviously) 10 years ago ... not only have I matured somewhat, it was a lesson I'll never forget.
1/13/2019 10:32:58 AM gmt
Oh, the other amusing thing is that the remodeling which was supposed to cost $200,000 in 2009--it ended up being closer to $550,000 or so when I was finished. It too was a financial shock at the time, but totally worth it in retrospect since ~10 years later we're still in the same wonderful home, where my children grew up, and we all love it and memories we've made here. My point is to never let making money get in the way of "making life," especially if what you're buying is something that generates lasting happiness for those you love.