Update for week ending May 13, 2012

Here's the balance sheet for this week:


Assets
Cash                         461,676,588.72 ISK
Sell Orders                  138,448,103.00 ISK
Escrow                                 0.00 ISK
Contracts                              0.00 ISK
                             ------------------
Total Current Assets         600,124,691.72 ISK


POS                                    0.00 ISK
Ships & Fitted Modules       383,233,090.18 ISK
Modules                                0.00 ISK
Blueprints                             0.00 ISK
Materials & Commodities                0.00 ISK
PLEX                         485,289,827.34 ISK
Misc Items                    59,327,474.65 ISK
-----------------------------------------------
Total Assets               1,527,975,083.89 ISK
===============================================
   
Liabilities and Equity
Notes Payable                          0.00 ISK
Loans                                  0.00 ISK
Bonds                                  0.00 ISK
                                       --------
Total Current Liabilities              0.00 ISK
-----------------------------------------------
Net Worth                  1,527,975,083.89 ISK
===============================================

I don't have the income statement setup yet, that will come hopefully next week.


Here are a few highlights from the past week:

• I sold the Orca on May 5th for 709B ISK (700B after taxes)
• I purchased two PLEX the same day for 475M each. I immediately activated one, and one is pending activation for my second account.
• Profits (excluding mission loot) are 79,740,014.77 ISK

Overall, the results are disappointing. The metric by which I was tracking my goal is profit per day, which needs to be 50M ISK / day. I'm pretty short of that, at only 8,860,000.00 ISK. Granted, I haven't played in two days (the weekend, at that) because of RL commitments. But even if I exclude those days, my overall profits were only 11,391,000.00 ISK, well short of 50M. 

I see a few reasons for this:

• Remember the items I mentioned buying at a loss on May 8th? I'm losing 49,000 ISK on each unit.
• I never bought more than 100M worth of goods at any given time, meaning 300,000,000 ISK was sitting in my wallet, not working.
• Of the 53 trading slots I have, I never used more than 30.
• I bought any item that had at least 20% profit margin (based on prices at the buying and selling systems). I did make money on these, but I noticed that some items sell at 50-90% profit margin. I should probably raise my minimum profit margin to make my capital work harder.
• Items with the worse margin (5-10%) were also the most expensive to buy, which means my capital doesn't work as hard. For example, one item was bought at 32M and sold at 34M, for 4.5% profit, or 1,429,606.00 ISK. Another item was bought at 20,450,000.00 ISK and sold at 31,000,000.00 ISK, or 52% profit. Had I used the capital from my first item to buy more of the second one, I would have netted 15,000,000 ISK

So while my results aren't great, I'm still encouraged by the fact that I have many areas that can easily be improved. I'm looking forward to the upcoming week.