May 9, 2007, 5:05 pm

Live Smith Manoeuvre, May update

by: The Financial Blogger    Category: Smith Manoeuvre
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As I stated in my previous post, I am going to post monthly updates of my portfolio and debt account related to the Smith Manoeuvre strategy I implanted a few months ago.

I’m already at month #2 completed with a owing balance of $1700 ($500 first deposit plus two months of contribution at $600 each). I paid a big $3,50 of interest of the first month and the interest for the month of April will be charged on my account.

My investments now worth a big $1705,38. Whoohoo! Five bucks of profit in two months! LOL! Hey, you have to start somewhere don’t you think? Anyway, the Smith Manoeuvre is a long term strategy and it is hard to make profit right away.

As you noticed, I’m not telling you how much I owe on my full mortgage. The reason is fairly simple. As it is a line of credit, I use it on a regular basis and it fluctuates over time. I’ll probably post a yearly update of my whole mortgage as the investment sub-accounts is more relevant to this example than anything else.

Hopefully, I’ll be 10 bucks over next month!

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