What Happened to the Exuberant PF Bloggers? Almost a season since I had written my post about Stock Market Volatility It’s been. In that post, I poked a little fun at my fellow PF bloggers that have some very ambitious investing goals. Two such bloggers stood out in my mind. 100k into a cool million over another ten years.
Another blogger scaled back the original estimate of his online worth growth rate to only 30% per 12 months. Even so, he’ll be considered a millionaire in a little over 4 brief years. The word “irrational exuberance” comes to mind after I read blogs such as these. So, whatever became of the bloggers?
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Well, year the first blogger ended submitting his blog early last. He has not been heard from since. His blog is alive and well still. For the year After setting forth his goals, he terminated his employment (i.e. quit his job) and ran off with a more youthful girl. They’ve shacked up jointly and are engaged. Hey, I guess that is one way to increase your net well worth, huh?
Interestingly, for the year this blogger does actually meet his net worthy of goal. And if he previously cashed out at the right time, he’d have forward been. But, after a few bad equity and currency trades, he is again below the target. He did, however, remove the goal of accumulating a million dollars in four years from his blog, conceding that it was overly optimistic finally.
According to the blogger, that goal will need a couple of more years. WHILE I wrote my post, the Dow Jones Industrial Average (DJIA) had just reached it’s then all-time most of 12,845. To review, the DJIA continued its upward climb and peaked well above 14, October 000 this past. However, it will now be clear to most investors that people are amid a bear market, and the economy is likely heading into a recession. As we all know, this decline was accelerated by the subprime mortgage fiasco.
Now is most likely a great time to reiterate and underscore what I’ve already said to my visitors: I have learned never to get too overconfident about the stock market, or my investment abilities. And I have learned to arrange for the worst while longing for the best. While market volatility used to make me concerned and nervous, a varied portfolio definitely helps in times like these. But whether the market goes up or down now, I feel that either direction can present a new, different set of opportunities.
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