Friday, October 10, 2008

Financial Tsunami

Hi Bloggers,

Phew, it's been quite a few days on the financial front, and it isn't even over yet! How much have you lost? I've lost about $50,000 on the year so far. However, when things like this happen, I always try and stay philosophical.

Firstly, it's only money! OK, money's important, but there are more important things in life, e.g. health, family, friends, spiritual development, etc. Also, the markets are bound to come back eventually, so if you can tough it out, it's really only time you've lost rather than money. Of course, the older you get the less you can afford that!

Hang on in there!
Good Luck



Suren_san said...

We could recuperate our investment portfolio with AIG, at the cost of 0.4% of the fund. Should AIG Japan have gone belly up 90% was guaranteed by Mitsubishi Bank. Now we are a bit unconfortable having US $ and Euro in a foreign currency account. We're considering buying gold. What do you reckon?

tropicalrob said...

Hi Suren,

It's difficult to say. Usually gold is a safe haven in times of crisis. But that's one of the shocking things about the current crisis, nowhere seems to be safe! Even gold prices have gone down, though not as much as other commodities. It's also possible the dollar will strengthen now. It's anybody's guess. It's complete mayhem out there! Gold may not be a bad idea, though.

That's probably not very helpful! Anyway, have a nice day!