“Work like there is someone working 24 hours a day to take it away from you”
– Mark Cuban
Hola, time for September net worth update!
An average month, filled with lots of ups and down! more downs than ups. Rocket man and POTUS saga is bringing in a lot of volatility to equities. Not only effecting India but whole world. This has to end as soon as possible. POTUS coming up with new tax reforms in the USA, am pretty sure it will propel US economy for sure.
Back in India due to poor execution of GST, GST tax collection is not going as planned. Invariably effecting GDP and Indian economy. But by December 2017 all these issues need to be resolved else it will be challenging environment for everyone! fingers crossed.
What happened to my money?
As always stocked 40K into debt fund. Also transferred around 20K to my brother and around 15K worth of miscellaneous shopping expenses. In total 35K already deducted from my emergency fund in the below snap shot for the month of September. It’s a complete disaster. Equity investment bringing in chaos to my net worth. This will continue for sometime now, I don’t see quick recovery. Again going back to what I love doing, invest more on good companies when market is in the down trend.
Poor Execution of GST,
Guess GST execution is haunting all traders and industries (why this view? We have family distribution business back in India). More than 80,000 crore loss in the market cap of top 8 companies in India in this quarter says a lot. Funny part is government has not even decided about GST taxation (Still there is debate going on between 5%, 18%, 28% or 4%, 16%, 24% and so on. Moreover some of the products involved in farming, is now charged at 18% which is under consideration by government for a lower tax bracket around 12%). Hope everything gets resolved sooner than later.
Time never stops,
keep growing your investment a long time. Don’t panic, India’s future is safe and we all will witness the growth. That is all for now, how well did your net worth do this month? please do mail me firstname.lastname@example.org.
Happy Dussehra to one and all! Cheers to money.