After a bad financial move, I had to give up going to the movies to watch that new flick about treasure hunters on a yacht.  After a bad financial move, John Devaney had to literally give up his yacht.  Not the yacht!  CNNmoney.com reported that ‘The market for assets backed by subprime mortgages has taken a huge hit, causing large losses by some top Wall Street firms.' Oh darn!

According to generationrisk.com, Devaney's not a developer, and he's certainly not a flipper. The 36-year-old CEO of United Capital Markets is a bond trader. And one of his specialties is buying and selling bonds that are backed by the mortgage payments of ordinary homeowners.

That's right boys and girls.  After a few laps around his 142 Trinity Yacht, appropriately named ‘Positive Carry' after the strategy in which one borrows money at a low interest rate on one end, and invests with a high interest rate on the other, thus ending up with some extra pocket change, has decided to sell his lil' ol' toy. 

Before I had a chance to whip out my handkerchief however, I was comforted to find out that he can still hang out at mom's 126 foot yacht on the weekends.  It's a tad bit smaller, and doesn't have Carry's 42-inch retractable plasma screen, or his and hers master bathrooms, but it should do for the temporary withdrawal. 

If re-living the memories are too painful for him, he can still go out and play with his Gulfstream jet, or simply veg out at his waterfront home counting his $23.5 mil which he will collect for Positive Carry.  Maybe he can invite all the people that lost their homes in the process of his ‘downfall' for some coffee.

We all have our ups and downs, and sometimes sacrifices must be made.  Good for me, there's always Netflix.