Thursday, October 09, 2008
Penny Wise, Pound Foolish
So the Dow had fallen on hard times (crashed is too drastic a word to use at this time) over the sub-prime credit crisis and markets all over panicked and fell to 3 year lows, wiping out billion, trillions of dollars worth in market capitalisation in sustained plunges over the last few months.
Some markets (such as Indonesia) even saw it fit to suspend trading until calm (or as least less panic) prevailed when they fell more than 10% in less than a day's trading.
My portfolio suffered mid-5 digits losses too, not helped by some last minute gambling on contra basis when I bet that the bailout plan will strengthen the market. HAHAhaha*sniff*
Had to beg, borrow and steal to eat them up and hold on to hope, instead of realising the losses.
Love is when you tell your hubby what you've done, and he was not only ok with borrowing from the family account, he was actually willing to take losses via the family account too. Sigh. I do hope I am deserving of such trust and understanding, which of course I AM. DUH. But lets not take it for granted.
So I trooped down to the brokers office to cough out the dole for the stocks, and i passed by Donut Factory on the way back.
The man in front of me wanted 3 boxes, and the staff told him that by paying $3 more ($21 instead of $18), he will get 4 boxes. He said no. I pondered for a minute and I proposed he buy 4 boxes, and I will pay him $6 for that 4th. In this way, he actually will pay $14 for 3, and I pay $6 instead of $7. To his credit, he first offered to take just $3 then actually said he will pay for me! I insisted on paying him $4 and left happy that I've save $3, almost forgetting the astonishing sum that i've lost in a day.
Some markets (such as Indonesia) even saw it fit to suspend trading until calm (or as least less panic) prevailed when they fell more than 10% in less than a day's trading.
My portfolio suffered mid-5 digits losses too, not helped by some last minute gambling on contra basis when I bet that the bailout plan will strengthen the market. HAHAhaha*sniff*
Had to beg, borrow and steal to eat them up and hold on to hope, instead of realising the losses.
Love is when you tell your hubby what you've done, and he was not only ok with borrowing from the family account, he was actually willing to take losses via the family account too. Sigh. I do hope I am deserving of such trust and understanding, which of course I AM. DUH. But lets not take it for granted.
So I trooped down to the brokers office to cough out the dole for the stocks, and i passed by Donut Factory on the way back.
The man in front of me wanted 3 boxes, and the staff told him that by paying $3 more ($21 instead of $18), he will get 4 boxes. He said no. I pondered for a minute and I proposed he buy 4 boxes, and I will pay him $6 for that 4th. In this way, he actually will pay $14 for 3, and I pay $6 instead of $7. To his credit, he first offered to take just $3 then actually said he will pay for me! I insisted on paying him $4 and left happy that I've save $3, almost forgetting the astonishing sum that i've lost in a day.
Labels: to Invest, to Shop Buy
# posted by yojanjan : 10/09/2008 03:41:00 PM
