|
GustaRhymes
|
read my profile
sign my guestbook
Name: Gusta
Country: Romania
Gender: Male
Interests: Sleeping. Sleeping. Eating. Chillin' with my friends.
Expertise: Makin' passionate love to you. Just kidding.
Occupation: Student
Industry: Business
Message: message me
Member Since:
10/26/2003
|
|
| Stock UpdateI sold 52% of my total equity* on Friday, the 12th. (*401k and Roth IRA are included in total equity calculation.) My gut told me to do so. I had probably been thinking about the 1987 Crash a bit too much before making the decision. (Wait, but wasn't I a pre-schooler back then?) Well it's been almost exactly two decades since then (next Monday to be exact), and I somehow got this strange vibe that I should sell most of my domestic equity. Of course, my guts and the 20th-year anniversary weren't the sole reasons for my individual sell-off. Simply put, I wasn't as comfortable being in the market as I had been a month or two ago. I wasn't too happy that there had been a steady economic slowdown in the States (arising exponentially from the housing meltdown and credit squeeze), that the dollar had been becoming weaker, that the prices of oil and other commodities had been soaring, that investors in Asia (China especially) had been a bit too crazy with stocks, and that the market in general had been having too many mood swings (i.e. increase in volatility). I doubt that a crash similar to the one occured in 1987 will happen this year, but I believe there's a high chance of a huge correction coming our way soon after the fairly lengthy rally between August 16th of this year and today. The '87 Crash isn't likely to recur because we now have "circuit breakers" that limit trading after considerable intra-day percentage declines. I personally dislike dealing with people with "all-or-nothing" mindsets, and I certainly don't have one. So even if I feel very discouraged by the market, I'm not 100% cash at the moment. If another correction actually occurs (like the one in late July / early August), that'll be my perfect buying opportunity of this year. If instead the rally continues, oh well, at least I still have a third or so of my total assets in stocks and mutual funds to compensate. Ok, enough of this gibberish.
(Pic Source: allposters.com)
My Newbish Performance in 2007 (realized and unrealized gains/losses):
From April 16 to July 15: $3,296.18 profit
From July 16 to August 15: ($7,216.94) loss
From August 16 to October 12: $10,175.77 profit
*Total from April 16 to October 12: $6,255.01 profit (of which $3,747.62 is realized) Individual stock performance year-to-date (October 12): +38.0% Some of the stocks I bought/sold include:
GOOG, NOV, BGC, CROX, FCX, BIDU, NILE, AEM, LVS, CPLA, BLUD, BA I currently hold two of the above. | | |
| My Way to Bankruptcy
The S&P 500 declined more than 4% since Friday (today alone contributing -2.33% to the drop). Stock market correction now? Because of this tanking market all of my investment and retirement funds--which constituted approximately 70% of my total assets as of yesterday--are suffering phenomenally (i.e. vanishing in thin air). In retrospect, it would've been a better investment decision had I started investing today rather than a few months back. I shouldn't have taken such a great risk granted that I was (and am) only a beginning investor but, oh well, I'm going in for the long haul anyway.
Though I know it is fiscally detrimental to have your emotions take control over your head when it comes to investing, I bought more shares today after observing the drop (i.e. I'm timing the market --> a very noobish thing an investor can do). Now 75% of my total assets is comprised of mutual funds (mostly index funds), and very soon I'll be exchanging some of those for ETFs. The other 25% is a buffer that I'm keeping in my high-yield savings account in case of an emergency, such as medical emergency (I might have to get a minor tear duct surgery; my dry eyes are still killing me), auto repair expenses, loss of job, stock market crash, etc. So much for mulling over which car I should purchase. Screw cars for now. Speaking of cars, I asked my father last weekend if I could buy a Nissan 350Z, to which he responded, "You know how conservative I am when it comes to buying luxuries. I find it utterly amusing when I see little kids driving around in those fancy cars--that their parents bought--and thinking they're the shit." Although I tried to explain how the 350Z wasn't really a luxury vehicle, and that I would finance the car with my own money, dad was pretty adamant about his stance. Well taking into consideration that I lost a huge chunk of my money (probably equivalent to the cost of a decent-sized plasma HDTV) this past week, bye-bye new car! Maybe I should get a used one?
(image stolen from www.the-nissan-350z.com)
| | |
| Do You Have $10,000?If you happen to have $10,000 sitting around in your online savings/money market account (or a checking account if you're financially retarded and enjoy wasting money), you might wanna make use of that to earn $100 + 15,000 United Airlines miles + 15,000 American Airlines miles instantly. Assuming 1 mileage = 1 penny, that's a $400-profit (4% return) in just a few minutes of your time.
*Caveat: This is for non-Fidelity members only (or current Fidelity members who only have retirement accounts but no individual accounts).
First of all, if you don't have a United Mileage Plus account and/or an AAdvantage mileage account, apply for them at:
www.united.com
More specific URL:
https://www.ua2go.com/ci/JoinMileagePlus.jsp?navSource=HP07&linkTitle=a7joinmileageplus
www.aa.com
More specific URL:
https://www.aa.com/apps/AAdvantage/InstantEnrollment.jhtml?referer=/apps/AAdvantage/AAdvantageHome.jhtml&_requestid=1139205
After creating the airline accounts, here's how you make instant dough.
There are three links:
1) Go to each link and register for the offers.
2) Open a new non-retirement Fidelity account. (Open only one!)
3) Deposit/Transfer $10,000 or more into the new account.
4) Wait up to seven days for the $100 to be credited into your account; Wait up to eight weeks to receive the miles.
5) After receiving your $100-bonus credit, you can take out the $10,100 (or more) and put it in your original bank account.
6) Leave the Fidelity account open for six months (I'm not sure if this is required, but it tells you on the form).
Since letting your $10,000 sit in an interest-bearing cash core account (FCASH) for seven days is not the best way to earn interest, I suggest that you buy a money market fund (if you plan to take out the money right after you receive your free rewards). I bought FSLXX (Fidelity Select Money Market) which gave me approximately 5.03% APY. Risk takers should buy index funds or stocks instead.
I received the $100-credit after only 4 days, and received 15,000 UA miles in 6 days. I'm still waiting for the AA miles to appear in my AAdvantage account. I called Fidelity and they told me that the process was pending and that I had to wait another month.
By the way, these are all promotional offers from Fidelity, which means that they're enticing each of you into putting more than $10,000 into their accounts for a long period of time. But like I said before, you can take out the money right after receiving the credit.
Technically speaking, it says that you can't use any one promotional offer in conjunction with another. But it worked for me, and wouldn't hurt to give it a try.
If you have any questions, feel free to ask.
 | | |
| Gus' Financial Goals for 2007-2008
Current net worth: confidential
1. Pay off Cornell/federal direct loans: I can't stand having debts
2. Max out 401(k) company match - free dough!
3. Max out Roth IRA: $4,000
4. Try to max out unmatched 401(k): $15,500 in total for 2007
5. Maintain a sufficient emergency fund: aim for $10,000 in savings accounts (HSBC Direct online savings / Citibank Ultimate Money Market)
6. Expand Fidelity investment account by placing the rest of my assets (less emergency fund) in stocks / index funds / mutual funds (taxes payable) while minimizing fund expenses
7. Investment portfolio target asset allocation: 95% in stocks; 3% in bonds; 2% in short-term funds
8. Hold a diversified portfolio and rebalance regularly
9. Consider our company's employee stock purchase plan (ESPP) and enroll in October if feasible
10. Continue saving 40% of my total income (not having a gf helps hah)
11. Do not carry credit card balance
12. Do not exceed 30% of the credit line (for credit score protection)
13. Do not accrue new debt (i.e. hold off on the new car purchase - sorry Thomas haha)
14. Study the real estate market; start looking for a place to buy. Make the down payment no later than 2009 (with the help of my brother)
15. Study for the CFA exams ASAP
16. Consider business school opportunities and study for the GMAT only if it's conducive to my long-term goal
17. Splurge on my trip to Seoul (and hopefully Beijing and Tokyo) during the summer, which will in turn considerably decrease the amount in my savings account, but oh well money is made to spend
18. Quit smoking (like really quit) - there's no reason for me to save money if I'm going to die before using it. At least my brother will be happy since he's the primary beneficiary at the moment hahah
*Updates will come soon
| | |
| I've Learned 
"I've learned that you can't make someone love you. All you can be is someone who can be loved. The rest is up to them.
I've learned that no matter how much I care, some people just don't care back.
I've learned that it takes years to build up trust and only seconds to destroy it.
I've learned that it's not what you have in your life but who you have in your life that counts.
I've learned that you can get by on charm for fifteen minutes. After that, you better know something.
"I've learned that you shouldn't compare yourself to the best others can do, but to the best that you can do.
I've learned that it's not what happens to people; it's what they do about it.
I've learned that no matter how thin you slice it, there are always two sides.
I've learned that you should always leave loved ones with loving words. It may be the last time that you see them.
I've learend that you can keep going long after you think you can't.
"I've learned that heroes are the people who do what has to be done when it needs to be done regardless of the consequences.
I've learned that there are people who love you dearly but just don't know how to show it.
I've learned that sometimes when I'm angry I have the right to be angry, but that doesn't give me the right to be cruel.
I've learned that true friendship continues to grow even over the long distances. Same goes for true love.
I've learned that just because someone doesn't love you the way you want them to doesn't mean they don't love you with all they have.
"I've learned that no matter how good a friend is, they are going to hurt you every once in a while and you must forgive them for that.
I've learned that it's not enough to be forgiven by others. Sometimes you have to learn to forgive yourself.
I've learned that no matter how bad your heart's been broken, the world doesn't stop for your grief.
I've learned that our background and circumstances may influence who we are but we are responsible for who we become.
I've learned that just because two people argue, it doesn't mean that they don't love each other. And just because they don't argue, it doesn't mean they do.
"I've learned that sometimes you have to put the individual ahead of their actions.
I've learned that two people can look at the exact same thing and see something totally different.
I've learned that no matter the circumstances, those who are honest with themselves get farther in life.
I've learned that your life can be changed in a matter of hours by people who don't even know you.
I've learned that even when you think you have no more to give, when a friend cries out to you, you will find strength to help.
"I've learned that writing, as well as talking eases emotional pains.
I've learned that the people you care most about in life are taken from you too soon.
I've learned that it's hard to determine where to draw the line between being nice and not hurting people's feelings and standing up for what you believe.
I've learned to love and be loved.
I've learned..."
- Omar B Washington
I have yet to learn a whole lot more..
| | |
|
