EscapeVelocity's Net Worth for May 2022


Assets Value Change ($) Change (%)
Stocks & Bonds $22,678,124 ($912,284) (3.87%)
Retirement $1,351,435 ($199,720) (12.88%)
Home $2,850,000 - -
Other Real Estate $505,852 - -
Cars $80,000 - -
Personal Property $0 - -
Business $800,000 ($200,000) (20.00%)
Sail Boat $405,000 - -
$28,670,411 ($1,312,004) (4.38%)
 
Debts Value Change ($) Change (%)
Home Mortgage(s) $0 - -
Other Mortgage(s) $0 - -
Student Loans $0 - -
Credit Cards $0 - -
Car Loans $0 - -
Other Debts $0 - -
Total Debts $0 - -
Net Worth $28,670,411 ($1,312,004) (4.38%)
*All values shown in USD ($)
Notes:
Well, wow. That was a pretty terrible month with the S&P 500 falling 11% for the month (down more than 13% YTD). The Naz, of course, had it even worse, falling nearly 16% this month (down more than 21% YTD). And then there's AARK, the poster-child of Covid-risk-on-excess, down 34% for the month (down more than 50% YTD).

The thing is, at least for the broad indexes, none of these drawdowns is historically unusual and the S&P isn't even in a bear market (usually defined as 20% or more off the highs). So I don't think it's over and expect more pain in May if, for no other reason, we are headed into a historically and seasonally bad time of year with a Fed (which meets next week) about to tighten more aggressively, among other things.

My only question is whether we take a quick elevator down next week or whether this grinds out over a few months. Either way, before the end of this I'd expect a few monster rallies of "hope" as we look for a bottom, followed by disappointing reversals until we get a real purge. Then, and only then, can we start over.

Of course, none of this matters if you're diversified and in for the long haul, so take it with a grain of salt and, if you're like me, watch for attractive entry points to deploy excess cash.

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