August is regarded by the Chinese as the "ghost month." Simply put, it is the unluckiest month of the year. Any new endeavors, like weddings and opening new businesses, are not encouraged during this month. Statistically, it so happens that, on the average, August also provides the lowest returns in the stock market. Normally, by September the market would show considerable improvements already. That is why some would actually say that it would be good to buy stocks on August. In the light of recent economic developments with Lehman Brothers filing for bankruptcy and the uncertainties involving Merrill Lynch and AIG, it seems though that the tunnel has been extended and the light at the end of it is yet to be seen.
Personally, my balance fund which I got last year has been losing big time! It's down by 30% already. To put that in numbers, if I invested 50,000 pesos at the beginning, it's current market value is now down to only 35,000 pesos. Although I'm a bit worried, my investment objective has always been mid to long range so I'm not panicking yet. Besides, the loss is only realized if I sell it now.
Even mama has been jittery these days. Twice already this week she has asked me to watch the news and explain the details to her. She says she doesn't understand all this stuff about Lehman collapsing and it's possible ramifications to the Philippine economy. The news showcasing big names like Sun Life, AIG (Philam Life) Metrobank, and BDO, definitely caught her interest. I think she has insurance premiums from Sun Life and AIG and deposit accounts with Metrobank and BDO.
Personally, my balance fund which I got last year has been losing big time! It's down by 30% already. To put that in numbers, if I invested 50,000 pesos at the beginning, it's current market value is now down to only 35,000 pesos. Although I'm a bit worried, my investment objective has always been mid to long range so I'm not panicking yet. Besides, the loss is only realized if I sell it now.
Even mama has been jittery these days. Twice already this week she has asked me to watch the news and explain the details to her. She says she doesn't understand all this stuff about Lehman collapsing and it's possible ramifications to the Philippine economy. The news showcasing big names like Sun Life, AIG (Philam Life) Metrobank, and BDO, definitely caught her interest. I think she has insurance premiums from Sun Life and AIG and deposit accounts with Metrobank and BDO.
And lastly, 2 of my friends, part of the innocent group of 9, (we called our group Just nine, the lucky 9 chosen by our former employer to receive training and go to Japan) are currently employed in Lehman Brothers Japan. I hope everything turns out well for both of them.
UPDATE: RCBC has also declared its exposure to Lehman Brothers. The list continues ...
ReplyDeleteOMG, i'm avoiding the news actually. :( maypag gi gasto na lang.
ReplyDelete@freeze
ReplyDeletewell ... different budget for investments and different budget for gastos as well.
Ganyan na talaga, if you want more then you should be willing to risk more.
Parang nabawi lang din yung earnings ko from 2005 to 2007 in a different balanced fund. huhuhu