General Lee
Well-known member
- Joined
- Aug 24, 2002
- Posts
- 20,442
AFcitrus said:Forgive my lack of economic prowess but why do peope always try to diminish a loss by saying "it's only on paper". The way I understand it, the buying power of that money is gone. It is added into ones total losses until such time that they can recoup it. Isn't that they way all losses are.
I knew a guy who owned $10,000 in stock but a few years ago I (I mean he) lost $5000 of it "on paper". He still hasn't made the money back on that stock and if he sells his stock, he won't ever make it back. His portfolio has a loss of $5000.
Well, I am no financail genius by a long shot, but I think some of that was an actual write off, which is different than using cash on hand. It doesn't help the situation, but it doesn't hurt it too bad. The financial guys at management know how to use that to our benefit, somehow. Regardless, it was a bad year and I hope we don't do that again.....
Bye Bye--General Lee