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Monday, June 20, 2022

My net worth is now at $318,437.15 (on date of June 17, 2022)

I updated my investment portfolio this past Saturday, just to have an idea of where I was standing, among all that mess. I had just posted my latest Total asset history so far. Despite it all, my net worth is still in the $300,000. My net worth closed this past Friday session at exactly $318,437.15. Today, my stock portfolios gained $3,142.16, which brings my net worth to $321,579.31. It feels better to have my net worth in the $320,000, even if I am experiencing a loss of $39,863.11 compared to my highest net worth value, which was $361,442.42 not too long ago, on April 20 of this year.

I had a fun weekend, I did a bunch. It actually felt like I had spent a 3 days weekend, instead of 2. This past Saturday, they had installed a major circle sculpture in downtown Montreal. It was raining, but I went to see the installation anyway. This is what it looks like:

Jean-François Tardif was at BNN this morning. For once, I was listening live. I am not really interested in the stocks proposed today, but it happens that my interest wakes up later on. It makes sense to stay away from the bank, knowing that interest rate increase will hurt homeowners, but it appears to be way just too logical for something of that nature to actually happen. What I mean is that I don't think the increased rate will hurt Canadian banks. It simply just cannot happen.


Mike Satch said...

On the one hand the higher rates will make it harder when people have to renew their mortgages. But on the other hand the banks will make more money on the loans. So maybe defaults will increase, but it should be compensated by the increase in loan revenue. I don't think the central banks have too much room to increase rates much more anyway. The government will not be able to afford the interest on their debt if it gets too high. Most likely they will stop raising and just accept a higher level of inflation for now. Hopefully the government will come to their senses and support the increase in oil production as well - which should help get inflation back down. High oil prices I think are creeping into all products due to high shipping costs. Oil even makes fertilizer more expensive, so creeps into food.

Your drawdown sucks. I'm experiencing a big drawdown as well on my accounts. But I figure it will come back sooner or later. It probably will take longer than in March 2020 though. Maybe a few years. Hopefully not that long, but good to mentally prepare for the worst. And it is nice to be able to invest new money into the market at much lower prices.

Sunny said...

Hi Mike,

It's a rough crazy time, but small investors can still make the most of this mess.
Today - June 24th - my portfolio gained over 5k so far, so it's a good day. But don't ask me why, I just take what's on the plate.
Yesterday, it was pretty bad, the TSX was in the 18,000 points, but I didn't even check on my stocks.

All this to say that it's a day-to-day situation, we have to invest a bit when the stocks are cheap and try to put on some savings aside. That's more a note from me to me, I am bad at putting money over my savings account.

Good luck, I believe it will all be ok.


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