It’s a pretty scary world out there financially, and until yesterday, I was really pretty scared to look at the numbers and figure out how my networth withstood all the gyrations of the stock market. Worse, just last month, I did decide to increase my stock investments by about 10% of my portfolio.
So yesterday, I decided to face the innevitable and take a look at how my financials handled the rollercoaster ride up to now.
To my surprise, my financial situation hasn’t bombed too badly. From May 08 to Sept 08, my networth stayed flat. That’s not great at all. If I adjusted for inflation, my networth actually went down.
This market is crazy. I’m not quite sure when I’m going to invest even more into the market. At this point in time, I’m just going to sit back and watch. I was watching some financial program on TV, and this Brit accented newscaster said something to the effect of “Today’s market is not a time for hero. People like Buffet can be heros and buy things up, but for the majority of average investors, just sit back and wait.” I guess it’s true, but on the same token, the down market is the perfect time to invest.
It’s time to do more homework and prepare? How many casualties in this market though…unbelievable.