10.5 million dollars but...
10.5 million dollars… more or less
So it’s time to look at my virtual stock exchange game.
My balance says that I have a grand total of 6.6 million dollars worth of stocks and debt.
The bottom of the list shows me owning equities totaling over 10 million dollars!
The difference here is that I had to use over 3.4 million dollars of margin to get here.
Margin is an interesting tool that I remember using maybe only once or twice in real life before.
What basically happens is you "borrow" capital from your stock broker to fund your stock transactions. It could make you very rich if your issues are flying. If, on the other hand your portfolio is tanking it could mean trouble. You could wind up paying your broker money for your own mistakes!! I think it might be time to start aggressively selling my stocks again!
The good news is that I think I may still end up ahead of the game after unloading 3.5 million dollars worth of gear! I just think it is kind of funny that some issues are harder to get rid of than others.
Take FKL for instance. I honestly don’t know how the hell I got involved with that issue. VSE tells me they don’t exist. Great! How come I have a balance of nearly $100,000 with them?
I also am having a hard time getting rid of PDS (Precision Drilling).
The exchange doesn’t give me any trouble with recognizing them, they just won’t buy them back when I try to sell the thousand shares that I own!
What worries me is that I may end the year out by selling all of my good stuff leaving only a portfolio sparsely populated with mostly crap!
Oh well, things could be far worse!
Thanks for reading.
Frank
Legal Disclaimer: Information, charts or examples contained in this missive are for illustration and educational purposes only. It should not be considered as advice or an endorsement to purchase or sell any security or financial instrument. I do not and cannot give investment advice.
It just would not do either of us any good.
Investment guidance advice should best be handled by your broker or investment counselor. Check http://www.google.com/ for a start on that.
So it’s time to look at my virtual stock exchange game.
My balance says that I have a grand total of 6.6 million dollars worth of stocks and debt.
The bottom of the list shows me owning equities totaling over 10 million dollars!
The difference here is that I had to use over 3.4 million dollars of margin to get here.
Margin is an interesting tool that I remember using maybe only once or twice in real life before.
What basically happens is you "borrow" capital from your stock broker to fund your stock transactions. It could make you very rich if your issues are flying. If, on the other hand your portfolio is tanking it could mean trouble. You could wind up paying your broker money for your own mistakes!! I think it might be time to start aggressively selling my stocks again!
The good news is that I think I may still end up ahead of the game after unloading 3.5 million dollars worth of gear! I just think it is kind of funny that some issues are harder to get rid of than others.
Take FKL for instance. I honestly don’t know how the hell I got involved with that issue. VSE tells me they don’t exist. Great! How come I have a balance of nearly $100,000 with them?
I also am having a hard time getting rid of PDS (Precision Drilling).
The exchange doesn’t give me any trouble with recognizing them, they just won’t buy them back when I try to sell the thousand shares that I own!
What worries me is that I may end the year out by selling all of my good stuff leaving only a portfolio sparsely populated with mostly crap!
Oh well, things could be far worse!
Thanks for reading.
Frank
Legal Disclaimer: Information, charts or examples contained in this missive are for illustration and educational purposes only. It should not be considered as advice or an endorsement to purchase or sell any security or financial instrument. I do not and cannot give investment advice.
It just would not do either of us any good.
Investment guidance advice should best be handled by your broker or investment counselor. Check http://www.google.com/ for a start on that.
posted by Frank Austad at 5:34 PM
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