It will not surprise anyone to learn that I am asked every day by someone where the trillions of dollars in world capital that were here on one day disappeared to on the next. No doubt many of our astute readers are getting the same questions from their friends and associates.
Perhaps some readers out there wonder where $245 billion of Citigroup, Inc. (NYSE: C) capital has gone and why they are surviving by a thread only at the graces of the American taxpayer. (Citi hit 97 cents a share during the day, closing at $1.02.) I will give you an example.
We all hate to lose money on our investments. As long as you don't have to sell stock right now you can ride out the losses with hopes of a recovery. Those of you who did need the money this year or who decided to take your lumps, can minimize those losses by writing them off when you file your 2008 tax returns.
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