tag:blogger.com,1999:blog-14245531.post1580120139412834399..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Net Worth July 2008Madame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-14245531.post-15862985100252031112008-08-15T16:48:00.000-04:002008-08-15T16:48:00.000-04:00This pisses me off, people buying houses that they...This pisses me off, people buying houses that they can't afford along with luxury cars and all the extras and now we, the stockholders, are paying for it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-88000311222488967762008-08-12T23:39:00.000-04:002008-08-12T23:39:00.000-04:00I feel your pain....don't worry, we'll see The Bul...I feel your pain....don't worry, we'll see The Bull again...it'll be fun again!!! Just hafta get through The Bear...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-52120664485810182912008-08-12T02:24:00.000-04:002008-08-12T02:24:00.000-04:00Um, in case you've missed it - there's a credit cr...Um, in case you've missed it - there's a credit crunch in progress. A huge amount of wealth was loaned to folks who didn't have the income to repay it. As they default on their debts, cash is scarce. Since the financial institutions don't have the capital to mark down their assets to their true value, they keep most assets off their balance sheets (in SIVs, QSPEs etc) and slowly bring some on each quarter when they have some earnings to write down. The process is going to be long and excruciating. As the financial institutions are starved for capital they can't make loans, so many commercial sectors will be unable to grow. This will cause the economy to contract (and produce a recession with accompanying job losses). As corporate earnings drop, equity prices will decline. If you don't redistribute to safer asset classes, you will not preserve your wealth. I doubt your retirement savings will be back to their previous level any time soon. Of course, I may be wrong. OTOH, my insights have made me more with my options trades in the last year than your total worth.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-45088019549840186212008-08-11T14:26:00.000-04:002008-08-11T14:26:00.000-04:00Its all good, August is a new month and is in full...Its all good, August is a new month and is in full swing! I think alot of our networths would be donig alot better if this market would pick up. Optimistic is the best way to wake up every morning!Shttps://www.blogger.com/profile/18390467531035203538noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-32335797684268287112008-08-11T09:40:00.000-04:002008-08-11T09:40:00.000-04:00You are right. As long as you are living within yo...You are right. As long as you are living within your means your net worth will grow.Anonymousnoreply@blogger.com