Anyone else want to join the "Lost over a million" club?

[Gumby]

Quote:

Originally Posted by NW-Bound I am down quite a bit from my personal high-water mark, but that was set back in July 2014. Then, I figured out how much I have spent since then, and the real loss was not so bad. It's only 10% or so.

Quote:

Originally Posted by kcowan I am down a Ferrari since the 2015 peak.

So far, my peak portfolio was in May 2015. I'm off about 10% from there. And, yes, it would easily buy a Ferrari.

[W2R]

Quote:

Originally Posted by Gumby So far, my peak portfolio was in May 2015. I'm off about 10% from there. And, yes, it would easily buy a Ferrari.

+1, except in my case it wouldn't buy a Ferrari, unless it was used.

[Throwdownmyaceinthehole]

Is this like getting on the scale? I've lost the same 5 pounds over and over and I can't tell you how many times I 'lost' 100k. Keep wearing the same pants.

[NW-Bound]

Quote:

Originally Posted by NW-Bound I am down quite a bit from my personal high-water mark, but that was set back in July 2014. Then, I figured out how much I have spent since then, and the real loss was not so bad. It's only 10% or so.

Quote:

Originally Posted by haha Sounds like someone either had a lot of EM equity, or oil and gas investments. Ha

I overweighted in both , until I sold in mid 2015. Yes, that was why my portfolio peaked long before the S&P, then ebbed. I was not overweighted in these sectors initially, but you know what happens when one does not sell high. The market god takes it away.

Quote:

Originally Posted by Gumby So far, my peak portfolio was in May 2015. I'm off about 10% from there. And, yes, it would easily buy a Ferrari.

Quote:

Originally Posted by W2R +1, except in my case it wouldn't buy a Ferrari, unless it was used.

I never shopped for a Ferrari nor was curious until now, so did not know how much a new Ferrari goes for. So, this is what the Web tells me.

Quote:

Ferrari car prices range from $188,425 and go upwards of $400,000.

OK, so my 10% loss is indeed somewhere in this range.

[W2R]

Quote:

Originally Posted by Throwdownmyaceinthehole Is this like getting on the scale? I've lost the same 5 pounds over and over and I can't tell you how many times I 'lost' 100k. Keep wearing the same pants.

I love it! Yes, I can see some similarities, that's for sure.

[kcowan]

Quote:

Originally Posted by NW-Bound I never shopped for a Ferrari nor was curious until now, so did not know how much a new Ferrari goes for. So, this is what the Web tells me. $188k-$400k OK, so my 10% loss is indeed somewhere in this range.

Yes my price point was $250K and I was using it as a surrogate for multiple Honda Civics.

[Hangingitup]

Lost a little less than 6% from my May 2015 high. But have an FA (still working at mega crop). Maybe I'm getting getting some bang for the buck I pay in fees (<0.5%).


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[mickeyd]

Where are all of you folks losing this money? If you lost some, there must be someone else who won an exact amount. Are they posting on a different thread?

[Car-Guy]

Quote:

Originally Posted by mickeyd Where are all of you folks losing this money? If you lost some, there must be someone else who won an exact amount. Are they posting on a different thread?

In some cases, we (I) know exactly who "won" mine, but I don't think any of them post here.

[NW-Bound]

A hurricane or a twister blows through town, destroying properties. Everybody loses money. Does anyone gain?

Same with the stock market. A few guys who bet against the market and short stocks make some money, but these stock shorters are far and few in between, and their gains are minuscule compared to the "losses".

From beginning of year to Jan 25 (last Monday), the US stock market drop was $1.7 trillion. The number for the entire world market was $3.2 trillion. And same as many posters here, I contributed a mid-range Ferrari to the altar of the market god.

Poof, up in smoke! No, just poof, not even smoke.

Oh wait, not even a poof when Quicken tallied up the numbers to report at the bottom of its screen. Quicken does not emit a beep or any sound when it completes the screen update. I think Quicken should make a Bronx cheer when your portfolio goes down, and some jubilant sound when it goes up.

[Danmar]

This thread reminds me of a conversation I had with my DW a few years ago. It was a good day in the market and I proudly told her we made $xxx,xxx today. She responded by asking me if this was money we had already made before? Alas, it was. Deflated me a bit.

[NW-Bound]

Hey, every day when the market closes, I tell my wife the number at the bottom of the Quicken screen. When the market reverses after a string of down days, she would say "OK, nowhere where we were, but at least the bleeding stops".

I think my wife is getting much better at handling the vagaries of the market. Before, she would say "Woulda, shoulda, coulda sell off everything when it was high". I used to have to remind her that we are still higher than previous highs, which were of course impossible to time perfectly. I do not have to tell her that anymore.

[Danmar]

Quote:

Originally Posted by NW-Bound Hey, every day when the market closes, I tell my wife the number at the bottom of the Quicken screen. When the market reverses after a string of down days, she would say "OK, nowhere where we were, but at least the bleeding stops". I think my wife is getting much better at handling the vagaries of the market. Before, she would say "Woulda, shoulda, coulda sell off everything when it was high". I used to have to remind her that we are still higher than previous highs, which were of course impossible to time perfectly. I do not have to tell her that anymore.

My DW has almost the same credentials and experience I have. Nothing of significance gets by her. I think sometimes she plays a little "dumb" or uninformed just to gratify my ego. I am a lucky man.

[Car-Guy]

Quote:

Originally Posted by NW-Bound A hurricane or a twister blows through town, destroying properties. Everybody loses money. Does anyone gain?

Absolutely, people who rebuild the infrastructure, homes, fences, debris removal, etc. I know whenever a simple hailstorm comes through this part of the country the roofing contractors seem to come out of the woodwork. I suspect they are all making a lot of money quickly.

[ziggy29]

My investment portfolio was down about 8% at its worst. Overall liquid net worth fell about 5% -- not enough to buy a Ferrari, but maybe a decently equipped new Lexus.

[NW-Bound]

Quote:

Originally Posted by Car-Guy Absolutely, people who rebuild the infrastructure, homes, fences, debris removal, etc. I know whenever a simple hailstorm comes through this part of the country the roofing contractors seem to come out of the woodwork. I suspect they are all making a lot of money quickly.

Yes, but the gain is indirect and comes from additional labor and fresh material being put up. What is lost by the victims is wealth destroyed, same as in war. The wealth is not transferred like a bag of gold coins getting passed from a robbery victim to a robber.

Speaking of robbers, the bankers that were guilty in the mortgage fiasco of 2008 were wiped out too, or at least the ones not getting TARP'ed.

[haha]

Quote:

Originally Posted by mickeyd Where are all of you folks losing this money? If you lost some, there must be someone else who won an exact amount. Are they posting on a different thread?

You are mistaken about this. If these were commodity contracts, or options, you would be right, as one will always have a counter party. But who is your counter party when you own 500 shares of Apple? Prices on the stock exchange can go up and down merely because people are more or less eager to exchange money for already existing shares.

Prices can change markedly with very few shares actually trading.

Ha

[38Chevy454]

Quote:

Originally Posted by Throwdownmyaceinthehole Is this like getting on the scale? I've lost the same 5 pounds over and over and I can't tell you how many times I 'lost' 100k. Keep wearing the same pants.

Well then, my portfolio is like my scale: mostly up with a few drops that are soon recovered

[Ronstar]

All of this Ferrari talk has me nervous. I check my portfolio on the last day of each month. Haven't checked it since 12/31/2015. I need to do it by COB tomorrow and I better not be down a Ferrari.


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[audreyh1]

Quote:

Originally Posted by mickeyd Where are all of you folks losing this money? If you lost some, there must be someone else who won an exact amount. Are they posting on a different thread?

That is not actually how it works.

Markets can have trillions vanish into thin air. No one "got" that money. It just went poof.

Market capitalizations rise and fall on the whims of investors.