Networth Update - Another month, another gain

This month saw huge drains to my bank account, as my 7-day cruise coincided with paying my parents back for their initial out-of-school loan to me.

However, this was offset by my tax refund and continued adherence to my budget.

Also, I've found myself using less cash on discretionary items, but finding that I have been spending more on food, and especially on coffee. I suppose sleep could help me save some money there.

Compared to last month, my networth is up 0.13% or $1,265.65.

Overall, this bring my networth to -$6,020.28 or -0.60% away from my goal.

On a side note, I am now designating Bank #2 as my emergency fund bank, since I use Bank #1 primarily for bills and checks, and expect the money in Bank #2 to accumulate interest.

Socially Responsible Investing

Socially responsible investing is all the rage these days, with investors boycotting companies that exploit rainforests, emit high amounts of pollution, or have insensitive HR practices. While normally these types of "irresponsible" corporate behavior are items I don't consider, a recent proxy for my mutual fund got me thinking.

It read:

"Shareholder proposal for ... [list of fund names] ... concerning Board oversight procedures to screen out investments in companies that substantially contribute to genocide."

Well that got my attention.

While I'm okay with minor corporate indiscretions, I was definitely curious as to how contributing to genocide could possible add value to a company. So as with any question I don't know the answer to, I did a Google search.

I found this page: "Investors Against Genocide". In the FAQ, they answer:

"Although federal law prevents most US companies from operating in Sudan, American financial institutions, in particular mutual fund companies, are major investors in the Chinese, Indian, and Malaysian oil companies involved in Sudan which are helping to fund this genocide."

Essentially, the Sudanese government is taking the oil revenues generated and plowing it into its war effort, which explicitly supports the genocide they are committing.

Certainly I had no idea that such investments in genocide were occurring. The above website is worth checking out for any socially conscious investor.

I definitely am voting for this shareholder proposal, and standing up against genocide.

Ameriprise Lunch

I think everyone in corporate America has had at least one free lunch from Ameriprise. Today's lunch was my second. For those who don't know, these lunches are typically a selling too for Ameriprise advisers who try to sell you on their services for the first 10 minutes of your lunch, and then leave you alone. They go away with your contact information and with the "threat" that you could be called.

I attend these type of lunches grudgingly; while free lunch is good, who has time during lunch to hear a sales pitch?

But today's lunch got me thinking. How much longer will these advisers be around for?

Most people who have significant wealth would not pick up a financial planner in such an odd fashion. I would think the target audience would be the middle to upper-middle class. Yet, with the huge rise in free personal finance blogs and the constant stream of free personal financial advice from conventional media, in 5 years, are people still going to pay for the advice?

Anyone with half a mind and access to Google could get pretty much any mundane personal finance question answered.

I would think their days are numbered.

Bear Stearns and the Market

Sometimes, I wish I had more money when I see a sure thing. Last Wednesday, I blogged about the recovering markets, and the affect Bear Sterns' buyout offer had. Never did I think though that Bear would help as much as it has.

The market has not been up 4 of the last five trading days. Bear's stock is up 600% from JP Morgan's initial buyout offer. JP raised their offer 500%.

It's insane, and it continues to indicate to me that the markets are definitely due for full recovery by summer time.

The only thing now is if we can get the Fed to steady its hand, and stray away from more rate cuts, then we can ensure the gradual upward climb for the dollar, and the US economy as a whole.

First Site Award

Well readers, thanks to your support and encouragement for my blog, someone out there has decided to give me my first official outsider review and rating.

Blogged.com gave this blog a 8.2 or Great rating.



It has been fun blogging, and I will continue for some time.