I'm certain that they're still a lot richer than me but I still wouldn't trade shoes with them. I can't imagine that millions or billions of dollars can be lost by a person in a year... and I wouldn't want to imagine how it would feel like either.
I have one question though, if they'd lost their money, where did it go?
Here's a list of the financial big wigs and the estimated damage to their bank accounts
All I can say is ouch!!!!
Here in Manila, the famous fund manager CKP is in comatose. Let's pray for his recovery. His fund has performed poorly in the past due to bad market, bad luck and bad timing. It has cost a lot of people, including me a lot of money. Good people make bad decisions so I'll cut him some slack. I'm sure that he's feeling pretty bad because of the stress brought about by the bad financial environment.
On the other hand, the famous fund manager, who is also a writer for a popular spreadsheet here in Manila is still alive and kicking... I've learned a newbie lesson never to heed his advice again... When he tells people to buy his "stock picks" that's a signal for me to sell. This guy is heartless and takes advantage of innocent stock investors especially newbies. I have no respect for these kinds of people.
Anyway, it's hard to earn money from stocks because the market is really erratic. My advice is to be liquid. I've pulled out my money from the market last year and am really glad that I made the right decision. For those who are stuck, I wish you all the best... don't do anything rash. Remember, you can still earn what you've lost.
