My Digest for "Unprecedented" 2008
"2008" has been and still is an unprecedented year..
Beijing Olympic 888 (8 aug 08) signaled the bLoody deep red to the Stock Market, chained to Financial Market and followed by Main Market...
BLOODY Year..
This thread is JUST to remind us, (more to myself) of these following "Key-points":
1. WorLD in Recession - 2008
Market plunged pretty badly during Oct 2008 (which we might call it bottom).
Again it might not bottom as the bottom now seems like bottomless.
This time the virus hit the heart of the world (currently obviously is still America) just to spread out widely to the rest of the world:
* Subprime Mortgage in America
- Started from Dec 2007 until NOW..
Note: Mortgage is given to ppl who obviously cannot afford to pay.
Next mortgage casualties MIGHT be Europe and last but not least emerging market.
* Credit Crunch
- Due to Lehman Brother bankruptcy (15 Sept 2008)
AIG saved by Government (14 Sept 2008) - $ 40 Billion
Merryll Lynch sold itself to Bank of America (14 Sept 2008) - $50 Billion
Goldman Sach saved by Warren Buffett (24 Sep 2008) - $5 Billion
- Market Confidence Ruined
- Banks' market value hardly hit, causing Credit Crunch.
- Credit Crunch eased due to Bail out from world governments and Central banks cutting interest rate (ar we movin toward socialism?)
- Stock market plunged deeply by End of Oct 2008, leaving most of the investor in deep shxx (yep u ar rite, I am not spared)
- Oil hiked to >$145 in June 08 just to slump to below $50
- Oct and Nov 2008 have the same keyword "volatility", market could swing up or down for 10% in a day.
2. My personal life (in recession?)
* Falling in L.O.V.E with Starbuck Greentea Frappe during my trip to Bangkok (6-13 Aug 2008), it has been my loyal weekend companion since then.
* First time watching F1 Live in Singapore (first F1 Nite race)
* First time working during the New Year Eve (enjoying SEntosa beach party)
* 3rd time finding someone special and enjoying talking to her for a long long time.
* First time renting a full flat in Singapore (share with my best 4 "gays" housemate) - address had been censored due to overwhelming responses.
* First time bought Stocks
* First time have Personal Financial Report, insurance and fund.
Ehmm ehmm yep yep..
u ar rite.. its not end of year 2008 yet..
I am just being a bit "anxious" that i might forget to note down this interesting and "Unprecedented" year of C.Ri.SiS somewhere that I might lose it from my mind in future glorious years.
Let's wrap this up once we pass through 2009.