January 02, 2009 11:37 am
Just to be up-front about this, today I re-created my Stockhouse "public portfolio" - effectively "zeroing" all my holdings and starting from scratch this year.
Yes, this gives me an artificial "cost base" for my public portfolio. However, since my previous "cost bases" were all based on the day I created my public portfolio, none of the numbers were accurate anyway. Furthermore, the melt-down for commodity-producers last year was an aberration caused by the ruthless, "scorched-earth" policy of U.S. banksters - who took everyone down with them when their world collapsed.
I would encourage others to follow this example, and 'erase' their own red ink from their public portfolios. I would further note that MANY Stockhouse members have already re-created their "public portfolios" - as this is a VERY important component of our Stockhouse reputations.
With this being the first trading day of the year, there will never be a better time. I only wish I had done this BEFORE the open today - as every stock in my public portfolio is up from 3% - 40% (lol!).
Best of luck to ALL in '09!