Tuesday, September 30, 2008

Its been a while...

Its been quite a while since I posted anything on here or followed any of the blogs I normally read. I've been a little busy lately, but its been good, until yesterday. Yesterday, my old company, Wachovia (damn them...everytime I hear their name I feel a little anger) decided to go under and Citibank came in to try to save them. In a very short period of time, my stock plumeted to zero. I lost a shitload of money instantly (as in thousands-double digits). Thats a lot of freaking $$, I was completely pissed and let it ruin my whole day. Previously being a stock broker before making my way back into IT, I started thinking like one and found new light of my situation. I can write off my loss against my gains $3k per year until my losses are absorbed. Of course, I won't have any gains this year because of how crappy this market is. But then that got me thinking, why not take advantage of everything being on sale. I like sales - lord knows I look at every sale ad that comes to my house! Instead of making the worst out of an already bad situation, I'm going to start dumping money into the market to try to re-coup some of my losses. Granted, I won't make any money this year or even the next probably. But if I just bought shares for less than $10 when 6 months ago (when the economy still wasn't doing very well, therefore having a negative impact on the market) they were selling at over $25, I think I just got myself a pretty good deal. The market has proven over decades that it will eventually come back and the ones that stuck it out made tons of $$. I'll take a gamble...if I lose it all again, I'm just going to jump off my roof.

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