You know, when you lose as much money as I've lost in the past 3-4 weeks, you can't help but wax philosophical. It's only money, right?
On Friday I started cursing. The SRS is getting squeezed and squeezes are irrational and pretty darn scary for those of us on the wrong end. Seemingly, they take forever to end; and that's if they ever do. Take a look at Netflix or Treasuries. Nonetheless I increased my SRS position by 55% after the close at 38.24.
My taxes for this year are just about done - except for the *paying* part, which is going to hurt big time; and probably force me to reduce my trading positions.
AND, on Thursday , I got another letter from the IRS about my 2007 return. They already hassled me with this last year and robbed me of 40 hours of time dealing with the issue, i.e. their mistake. That was *resolved*, or so I thought, with me getting back $800.
But this new letter, accuses me of underreporting my capital gains, THE SAME CAPITAL GAINS THAT I'VE ALREADY REPORTED TO THEM TWICE NOW, and demands a response by April 29th. They want another $19,700 or else....
So I've been hit with a deluge of agony these past few weeks.
And then I got word yesterday that my old man got light-headed, fell down, and split his head open a bit. He's been at the hospital for *tests* the past three days. They've ruled out *cardiac* causes but I we all know these doctors are Morons.
My father's father died young of a heart attack. And my old man, healthwise, is a mess. He's got one banged up body through which rivers of alcohol and transfats have flowed for decades. A chip clip? What's that? Just try to tell my father that when he opens a bag of potato chips he needn't polish it off. He used to eat on of those large Wise bags every single night. They had to be the greasiest chips ever, right?
On top of all that I've been pretty busy. I played golf twice this weekend - needing four layers today to survive the 30+ mph winds. Smashed every single tee shot down the middle save one, but still ended up with a 91. No one can putt, not Tiger Woods nor even a robot, in the wind.
Also, my wife took a new job (within the same firm) and can't really skate on *Fridays from home* just yet. So I have to watch the kids a bit now an extra day. That's a 25% increase in my duties!
And we had a Christening....and a long Palm Sunday mass to got to.....
4 comments:
You have extremely high pain tolerance. I wouldn't be able to hold SRS if I were you.
On another note, I am not sure why you keep adding to SRS instead of waiting for market to start slowing down its upward move.
I wish your dad a speedy recovery.
RJ
WHOA. Please take my comments as someone who has had 60 years of experience with how the Universe talks to us. Breathe deeply, re-evaluate what is important to you, and move towards what makes you happy. Sending YOU and your Dad thoughts of balance and improved health. I think you show incredible courage for being totally real on your site. As far as the IRS goes, I feel your pain. Been there, and survived it.
Finally something I can agree with George on...
Adding to the negative tone on banks were comments by billionaire investor George Soros, who told Reuters the "banking system as a whole is basically insolvent."
Be well and hope your father recovers. Things like this helps bring perspective on silly things like betting against the banks.
Kfell
Thank you all. He's probably fine. All his 'old coot' friends are saying they get light-headed and stumble quite often!
Ramta,
That's not how I roll. I'm not a momentum guy - not with banks and REITs anyway. Plus I haven't the time to watch them closely either.
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