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Monday, January 21, 2008

Dropping Like Flies

The stock market has been crashing for well over a week now.

Whilst it is a drawn out daily slow retreat instead of one major plunge, nobody is harboring any hopes of Asia being spared the fall out from the sub-prime crisis which started in US and is spreading to the rest of the world.

I pray that China doesn't give us anymore unsettling news like it is slowing down (they are not allowed to! This is Olympics year for goodness sakes, no negative news allowed with countdown at 199 days now), even as we understand that its economy has been overstated.

My portfolio has already lost about 15% of its value (though thankfully I'm in a net gain position since some counters I've held for years when they were quite cheap, and I've been receiving regular dividends on them)

Nonetheless, unfortunately I've plunked in a total of some $12k in late Dec and Jan and am sitting on paper losses of $2.5k at the moment. *pout*

The golden rule of investing is never play with what you can't afford.

So I'm grateful that those are money that I could afford not to use at the moment, so those are positions that I do not have to liquidate yet.

On the bright side, I've received my annual statement from CDP and it says that I have received about S$1k in dividend in 07.

So that's some comfort.

Let's see if more blue chips continue to drop like flies and check out what to buy.


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