Wednesday, November 12, 2008

I want a bailout

So, today the US decided that they won't be buying back 'toxic' mortgages in the banks, and will instead just investing in the banks themselves. This got me wishing...
I want a bailout.

Here is a history of my stock investment performance over the last 5 years:

XXXXXX
00000
00000000XXXXXX
0000000000000
000000000000
0000000000
00000000xxXXXX
0000000000000
0000000000000
000000000000XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
000000000000000000000000000000000000000000000
000000000000000000000000000000000000000000000
000000000000000000000000000000000
0000000000000000000000000000000
000000000000000000000000000000
000000000000
00000000000

So, the 000000000 are newly invested money, and the 0000 are the current;y invested money. So, basically, this rough graph tells you that I invested money, then lost some. Instead of cutting and running, I put in more. Then, lost again. So, I put more in. Then I got really excited, and put a whole lot more, and most of it in US bank stocks. A week or so later then dropped off a cliff. I hung on. A few months later they fell off another cliff and into the pits of hell.
I hang on still. 
I don't just have bank stocks now, but it really doesn't matter. Whatever I buy, it either falls slowly over time, or crashes all at once.
I hang on still.
Thankfully none of it is borrowed money, or my life savings. Well, some of it my savings, but I'm not like the US banks, using borrowed money. If I was, I probably wouldn't be typing this, because I wouldn't have cable.
So, now I sit here imagining the government coming in and buying up all my bad stocks, and giving me money back based on their original purchase prices. How nice would that be.
Will I invest more when  we hit the bottom?

Well, I already have... many other times when I thought the market had hit bottom.

I think I'll wait in out for a while this time.