% loss in portfolio?

[Awesomandy]

Well, there goes most of my life savings. I've just sold off some of my remaining positions a couple of hours ago too, and, as my luck goes, the market bounced.

EDIT: It's not as bad as it sounds, actually. I've only started my life savings a year ago, and I'm young enough to have never had any money on the market during any previous correction periods. One thing for sure is, my system has never been tested/used during down periods.

It looks like I won't be getting much sleep for quite some time - not from the loss of money, but from watching, analysing, and trying to learn as much as I can.

 

[waz]

I think the bands for the poll need to be altered, a majority of us are in the
-20% plus bracket.

although when u see things like this, its nice to know your not the only one who is screwed.

i should have exited all my pre-june 30 investements on the first day of july.

the tax deduction was my only reason to reinvest. i had previously sold everything in april and was sitting on a tidy 25% profit for the first 4 months of the year.

 

[Struzball]

even if people bought a month ago, still a better investment than a big screen tv or brand new car, I'll try to be optimistic.

 

[rico01]

I,m down 500k in capital since the 27 th of july , that was the day I started selling some of my stock just in case things went bad . over the last 3 weeks i sold Cbh @ 60.5 Yml @60c POL at 56 .Glad i did now cos it could be much worse.
' The market Givith and the market taketh away"

 

[YOUNG_TRADER]

I should keep things in perspective guys,

At the start of the year my portfolio was worth $500k maybe, 4 weeks ago it was $2m, today probably $1.35m so for the year I'm still wayyyy up,


But I'm not worried, as the fundamentals haven't changed for me

Fear is ruling the mkts at the moment

 

[ahspritemk]

I should keep things in perspective guys,

At the start of the year my portfolio was worth $500k maybe, 4 weeks ago it was $2m, today probably $1.35m so for the year I'm still wayyyy up,


But I'm not worried, as the fundamentals haven't changed for me

Fear is ruling the mkts at the moment

Just out of curiousity how old are you young_trader?

 

[motion]

I should keep things in perspective guys,

At the start of the year my portfolio was worth $500k maybe, 4 weeks ago it was $2m, today probably $1.35m so for the year I'm still wayyyy up,


But I'm not worried, as the fundamentals haven't changed for me

Fear is ruling the mkts at the moment

WOW -- YT here I’ am trading thinking 50k was a lot of money...

Can I ask did you use margin lending or just hard cash to get to this position ? If it's not too personal to ask? I also know it takes a lot of brains as well

 

[GRTRADER]

Yep im down quite a lot - i just wish i had more spare case - i picked up some stock today which i think will help offset these losses over the next 6 months or so. Luckily i have no plans to sell what i hold for at least 6 months or probably longer so im not too worried - if its still down then i will be a little annoyed but hey what can you do?

 

[Lycon]

lost 37% of my portfolio wish i went with my gut and liquified it. decided i will batton down the hatches and weather the storm>

 

[springhill]

I personally only stared investing last October not knowing a whole lot about sharemarkets, since that time investing $25,000, not a whole lot in the scheme of things but is big money to me, 2 weeks ago i was sitting on $49,000. Today i have $29,000, still above my working capital. In all honesty im not worried, **** happens and i was always in for the long haul. In hindsight should have bailed out 1 month ago but im lucky enough to be in a position to ride out the bumps. Ive learnt a bit in that time, but still probably know SFA, but you have never gained/lost anything til you actually sell and put the money in the bank, the rest is BS and paper profit/loss. Not sure how much further the market can fall, especially at this rate, but IMO as a novice this has gone beyond the pale and will be looking to pick up some bargains tomorrow especially if US tanks overnight

 

[jonojpsg]

Correction. Another drop in AOE has now put me in the red on my portfolio for stocks on hand. I do have some profit on stocks sold during the period. My sentiments are still the same although it could be time to trade and tie in some tax losses. i.e. sell at a loss and buy straight back.

This sounds like a good idea - is anyone else thinking this way? I know you lose on the brokerage and buy/sell spread, but surely if, as most of us are discussing, you are sitting on a 30 or 40% paper loss, say $10k for ease of calculation. If you sell up then buy straight back in, you then have a $10k loss to offset against any gains you make on the way back up (if there is a way back up). At a marginal rate of 30% that's $3k value, which I would have thought would far outweigh any costs involved.

WHat do others think?

 

[Wysiwyg]

Yep im down quite a lot - i just wish i had more spare case - i picked up some stock today which i think will help offset these losses over the next 6 months or so. Luckily i have no plans to sell what i hold for at least 6 months or probably longer so im not too worried - if its still down then i will be a little annoyed but hey what can you do?

Similar thoughts as mine grtrader.....a green day or two will do wonders for the brain.lol

 

[waz]

Im actually happy i took out 50k from my 150k portfolio back in november last year to buy a car.
my car has fallen in value by 6k at the most (lets say 12%), whereas my 100k which i still had invested has fared much worse.

 

[morlock]

Well, I just started trading in may and was making a mild profit on a small amount of money. Now my whole portfolio is down 37%. I sold off some stocks at a mild loss to free up some cash to take advantage and top up some of my other holdings that I thought had more potential. Managed to sell off EMR at 33cents for a big one off profit take before the plunge....glad I did!

 

[barnz2k]

This sounds like a good idea - is anyone else thinking this way? I know you lose on the brokerage and buy/sell spread, but surely if, as most of us are discussing, you are sitting on a 30 or 40% paper loss, say $10k for ease of calculation. If you sell up then buy straight back in, you then have a $10k loss to offset against any gains you make on the way back up (if there is a way back up). At a marginal rate of 30% that's $3k value, which I would have thought would far outweigh any costs involved.

What do others think?

Very interesting idea. Especially if you already planned to sell something in this F. Year anyways.

Personally I was still up 1-2 weeks ago, before buying a "cheap" bnb, which proceeded to drop a futher 20% after its initial 11% or so. Putting me down some what along with the drop in ALL my other shares.

 

[mb1]

Im starting to swing back up -45% to -39%. Looks like im going to sizzler for dinner

 

[springhill]

Im starting to swing back up -45% to -39%. Looks like im going to sizzler for dinner

I went to Sizzler last nite!!! What a tip! -39% will only get you the salad bar, wait til you're -34% if you want steak or chicken!

 

[Buster]

Hey YT,

But I'm not worried, as the fundamentals haven't changed for me

Fear is ruling the mkts at the moment

I'm in there with you buddy, couldn't believe the market down 5% at one point today.. I'm tipping there are a lot of 'stop losses' being triggered further fuelling the panicked market.

I guess I've been a little lucky compared to some here, I've not sold a single share (Obviously, I'm a long term holder..) and my portfolio is only down around the 13% mark. Streets ahead of where I started about 18-24 months ago, so I'm happy to let 'em ride.

I grabbed some absolute bargains today. (well, bargains to what I consider good value, and compared to todays closing price..). Hope they are still bargains tomorrow..

Shake those sellers out..:

Regards,

Buster

 

[MS+Tradesim]

Haven't fared as bad as I thought. Down big time overall for the last 4wks but still ahead probably 80% for the calendar year so could be a lot worse.

 

[Kipp]

Em.. Id rather not calculated... but at least I wasnt in much at the start of the correction. Only good thing though is that at least I am not pressured to sell- i.e I am not investing with borrowed funds, or with 100% of my life savings....
Wish I was more into philosophy.. Im sure this isn't so tough for Buddists!!!

Were is WayneL? I bet he is laughing his a^*e off in profits.