OMG -- Stocks Plunged Today On A Credit Downgrade -- A Downgrade That According to Jamie Dimon Means Absolutely Nothing -- And, We Move On -- August 2, 2023

Locator: 45307INV. 

Let's put this in perspective.

Today's headlines. Variations of same everywhere. Jim Cramer says to "circle the wagons. Raise cash." 

For those whose entire investment portfolio is in BRK-B.

Year-to-date, your portfolio has increased 13.32%; on an annual basis, about 25%.

Today, due to a downgrade, "stocks plunged" and your portfolio gave back 0.3%. Not 30%. Not 3%. But 0.3%. 

For every $1,000.00 you had on January 1, 2023, you had about $1,130.00 yesterday. Today, due to the huge selloff, you have about $1129.661. 

Okay.

BRK-B, by the way is up 0.06% after-hours tonight.

Let's see. $1,130.00 - $1,129.661 = 34 cents loss on every $1,000 since today's sell-off. 

If you had a million dollars in BRK-B, I guess you lost $340 today. 

After gaining $133,200 through yesterday, year-to-date.

Disclaimer: I often make simple arithmetic errors. My numbers could be off any number of decimal points. If this is important to you, find a high school senior math whiz to do the calculations.

 

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Movie Night

Highly recommended: Good Omens. Amazon Prime Video.

 

Amazon in association with BBCS. 

 

Producer, Irish film producer Sarah-Kate Fenelon.