Tuesday 8 January 2008

Do as I say, not as I do

On the 10th of December I posted my thoughts that I'd better replace my expiring Index Put Options with some new 'insurance' against a possible drop in the market. I never got around to doing anything about this, and I've paid the price. With my geared stock portfolio every 1 point drop in the All Ords Index is a paper loss of around $100. Since 10 Dec the Index (XAO) has dropped around 500 points, accounting for around $50,000 decrease in my net worth.

It's no good knowing what you should do, if you then don't do it!

Copyright Enough Wealth 2007


Anonymous said...

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Anonymous said...

Wow, that's a rough loss, but I'm sure you'll get back on track soon enough.

What doesn't kill you...