To cheer me up a bit, I thought I'd review the movement of my share portfolio over the last year, but also look at changes to my net worth in Norwegian kroner - since I plan to move to Norway in a few years.
Here is the disastrous performance of my shares, in order from best to worst:
MXM -5.34%
QDG -13.62%
NXT -20.62%
IAPD -28.06%
GNK -32.09%
IFFF -39.96%
IDVY -40.18%
LTAM -43.15%
IEER -58.82%
BDI -65.55%
ZRX -66.73%
RBS -75.33%
TW -90.16%
Movements in the dollar/pound exchange rate have almost exactly wiped out my share losses. The value of my house has also fallen over this period - I estimate this loss to be slightly greater than my loss on shares. Movements in the pound/kroner exchange rate have almost exactly wiped out this loss.
House prices, share prices and exchange rates have resulted in zero net movement in my net worth in the last year. It was a different story 6 months ago. Asset prices had not fallen so far, but I had made no profit on the dollar/pound rate, and had taken heavy losses on the kroner/pound rate. At that point my net worth in kroner had been hammered by approximately 25%.
So - my net worth is the same as last year, and I have an excellent opportunity to buy shares at reasonable prices. Reasons to be cheerful indeed.
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