Prosper and Sub-Prime Mortgages – Connection? August 17, 2007
Posted by pf in Expenses and Savings.2 comments
Some time ago, I had posted some commentary about the investor sinkhole called Prosper. Mostly, this has been an infrequent back and forth between Lazy Man and myself ( “Prosper Winners and Losers”) and general commentary (My Comments about Prosper on Lazy Man and Money).
As I have been reading about this sub-prime mortgage mess, I started to think about the poor souls who have signed up for these “exotic mortgages” and are to soon find themselves (if not already) in a very bad way as their mortgages reset and they can not afford their homes.
Stock Market Correction: Now!! August 17, 2007
Posted by pf in Retirement.add a comment
Since I reallocated my portfolio on May 1st on the “Sell in May and Go Away” concept (”Sell Stocks in May and Go Away?), I have given a couple of subsequent updates:
Sell Stocks in May and Go Away: Update
Stock Market Correction: Maybe Now?
Well, after the past couple of weeks declines, it is definitely here folks. As I have said in my earlier posts, I wish I had a bit more conviction to my decision to reduce my exposure. As of this writing, I am probably down about $20K in my portfolio. Granted, it would be a bit worse had I done nothing…but still stings a bit when I think about what could have been. Of course, the exact opposite could have happened which is why they tell us not to time the market, eh?
Net Worth – July 2007 August 3, 2007
Posted by pf in Net Worth Update.add a comment
The pain continues as the stock market falls. As of today, it dropped yet another ~280 points. I have mixed emotions in that I’m very interested to see the “Sell in May” phenomena at work while a bit downtrodden about my losses (although less than they would have been had I not taken some action). As I had mentioned in my recent post, had I a bit more courage, I would have fared a bit better.
While my recent financial hits from the market are readily explained, what is a bit more puzzling are the recent drains on my cash accounts, running about $2000 or so for the last couple of months. No doubt some of it has to do with paying off the credit card. I will be monitoring it a bit closer this month and see what transpires.
At the end of the day, our net worth has decreased for the second month in a row by ($4700). The market alone accounts for ~($5806) with offsets from debt reduction.
My Personal Finance Odyssey 