Friday, May 3, 2013

Barrick is hit badly, April was rough and my Net Worth is down

Hey freaks,

I might be one of the few to have bad news in this current bull market. 

See, it takes one bad apple to contaminate one's portfolio. In my case, my bad fruit was Barrick Gold.

I know, I know... it's gold, it's unpredictable, it fluctuates more, it depends on many factors, ladi-lada.

But it's the biggest gold company in the world! And yet, the stock price has dropped by more than 50 % in the past months. And what did I do during these months? I did what we all learn in books: I stuck to my ground and bought more!

Time will tell if I was right. But for now, I don't intend to sell anything. Barrick is my biggest investment. (I had not planned it this way -- but hey, roll with it, right?). The dividend yield il all right for now. Hopefully they will be able to sustain it.

Check out my portfolio and imagine Barrick is doing much better. Hell, I might have hit the 130 K$ mark.

April was a tough month spending wise. Its actually my worst spending month since I started out budgeting. Check it out here and see why.

With Barrick down, I am virtually losing 5 K$, so despite some gains elsewhere (Hello KRFT, MDLZ, CP and JNJ) I am looking at my first negative number on the Net Worth side.

My Motorcycle café Racer Project is also a bit responsible. Nothing to write mama about, but if your Net Worth is down, it means you are losing money instead of winning some. And that can't be good!

Check my Net Worth and let mw know what you think.


2 comments:

  1. My portfolio was down in April too if I hadn't added more money into it. The resource companies really underperformed last month. I don't have Barrick, but I bought some Goldcorp and Suncor a couple weeks ago when I thought they was cheap, but they haven't really recovered yet :( Your net worth is pretty big, so a little volatility is expected. I bet next month you'll be back in the black (^_^)I'm pretty sure the price of gold will eventually spring back up above $1700 per ounce. It's only a matter of time. And when that happens our gold mining companies will be the right place to be :D

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  2. You are right Liquid. Things will pick up. (they are right now). I am not too worry actually. I have to say that since no money (well not a lot) is coming in at the moment, the pace is much slower. Bu the future is ahead of us, right? Good luck on your side. I see things are getting very nice on your side of the country. Thanks for your comment.

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Thanks a lot for your comment.