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Stats: 1062022 members, 1233683 topics. Date: Wednesday, 22 May 2013 at 10:42 AM
|Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 1:20pm On May 18, 2007|
Acta Non Verba, But Words Do Speak!
Anyone who has read my threads knows a few things about this boy already.
1. He passionate about Naij.
2. He aint blind.
3. He knows something about money.
4. He is proactive and pragmatic.
5. He spends too much time on Nairaland. lol
My point is this, we spend so much time here debating and gathering information but we seldom leverage this to achieve some sort of COLLECTIVE advantage which other pragmatist must agree is much better (though it does not diminish) personal gain.
There are so many intellects in this house. So varied a distribution of age, education, lifestyles and life stages. But what I can see here is talk talk talk.
This is what I am proposing:
That we use this thread for forming proactive alliances. To undertake SPECIFIC projects. It could be anything at all, but just outline its goals and target then let people make definite and PUBLIC commitments. Then go for it, giving situation reports here for people to see and contribute.
I want to start by proposing a Nairaland Fund or Acta non verba fund (If Seun objects to the using of his franchise).
I see so many people who have investment sense in the house. We could poll this and analyse the market one company at a time on this forum then make a portfolio of shares or bonds or commodities that we now invest in as a collective. I am sure I can play with N1000 for a start. We then monitor the portfolio and try to beat the market.
I have read extensively about Nospetco, Sefteg, Wealthzone etc on this forum and I always hear that they invest the monies in stocks and this and that. Well as at last check the Nigerian stock exchange has grown about 400% in 2 years. But the best of these scheme pays 10% in a month. In my calculation that is still 240% in 2 years. A shortfall of 160% of NSE. .
In the developed economies this is the practise. Many people have been able to beat the market by obeying simple laws and sticking to philosophy and I believe we can do it in Naij.
I know its possible in Naij because many people have return astronomical profits.
The advantage of this Nairaland fund will be that if we can poll our resources we can take a bigger position in the market and maybe do some hostile take overs (Dangote sugar). But really just imagine 90,000 Nairaland members. Say 10,000 invest 10,000 in this fund that is a N100 million Naira already and I know I would rather put all my money in the hand of an named ijogbon than in the hands of an expert who doesnt know how i got my dough. So if 5,000 people like me decide to put in a million together that will be N5 billion Naira, now tell me the market wont shake if they hear
Nairaland is on the prowl?
It is my idea. Please let me hear what you think.
And remember - Acta non Verba (Action speaks louder than words)
Feel free to post any other activities you want and I will be glad to be a part of any I think suit my goals.
|Re: Starting 'Acta Non Verba' an Investment Club by cheexy: 2:36pm On May 18, 2007|
thats a good idea and you do spend a lot of time on nairaland!!! Just work out the clinches so that people would not think you are 419. You feel me?
|Re: Starting 'Acta Non Verba' an Investment Club by Dis Guy: 2:57pm On May 18, 2007|
An investment club for the stock market or an investment club for nospecto and co?
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 3:40pm On May 18, 2007|
I do dont I ?
Well I just finished a 20,000 word dissertation so I am still addicted to surfing most of the day.
An investment club for the NSE to discourage people from subscribing to readily to HYIP's and Pyramid schemes. Giving them the option to try it out themselves if these schemes really invest in the market.
|Re: Starting 'Acta Non Verba' an Investment Club by Dis Guy: 3:56pm On May 18, 2007|
Would it be operating in the same way these pyramid schemes are operating i.e 'paying out' on a monthly or weekly basis?
I think someone already started an investment club but the issue of Trust, Time and Effort is usually a barrier to these sort of initiatives.
|Re: Starting 'Acta Non Verba' an Investment Club by ganjaih: 4:00pm On May 18, 2007|
The idea of an investment club sounds really good. For us novices, could someone please explain how they work in practice,
|Re: Starting 'Acta Non Verba' an Investment Club by Yes4u(m): 4:06pm On May 18, 2007|
I am interested in this. But my concern is who is going to manage it? How is it going to work out?
I look forward to more explanation to this.
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 6:11pm On May 18, 2007|
The way I am thinking is - develop a philosphy, analyse the market all on the forum here just like it is been done already, but the key difference is that we indeed invest jointly hedging our risk and leveraging our collective. I am sure the stockbrokers in the house can advise on the modalities for the purchases. And Bankers can advise on opening an account. Over to you guys then.
Anybody who has experience setting up an investment club can help too.
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 6:48pm On May 18, 2007|
I hate to burst your bubble. But if you gather up to 5000 members then you will need to register with SEC as a unit trust or Fund Manager. To do that you will need at least N500m in capital. The only way I think you can get around this is to form a company that will give the requisite backing to a network of investment clubs. IN fact I am interested in partaking in something along those lines. But for the moment I just want to run my investment club.
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 6:51pm On May 18, 2007|
You can see my yahoogroups web page for the investment club that I run
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 6:52pm On May 18, 2007|
The investment club that I run is having an inaugural meeting at the upper lounge Tantalisers 22 Road Festac Town tommorow at 5pm prompt. Admission is free
|Re: Starting 'Acta Non Verba' an Investment Club by mishoo(m): 7:44pm On May 18, 2007|
Since there's so much about Forex, why cant we get some Forex Gurus in the house to manage some of the funds. I think forex (short term) pays more than Stocks which is more of long term.
Just a novice idea !!!
|Re: Starting 'Acta Non Verba' an Investment Club by Tmoni(m): 9:29pm On May 18, 2007|
i seroiusly like the idea, i will most def. come back to nigeria to actively partake in the stock market and i would be needing good anlayst and we can work out sth from here,
where there is a will, theres a way, we just have to get together, sorry , cant write it in latin
|Re: Starting 'Acta Non Verba' an Investment Club by cheexy: 9:54pm On May 18, 2007|
I think the idea is wonderful. As i said earlier, if we can get past all the requirements and past all the mistrust, then it is a tight idea.
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 12:55am On May 19, 2007|
Unfortunately I am in no way able to attend this inaugural meeting. I would have loved to however. Could you please post up the minutes here for us to read.
About the 5000 members thing? All in good time. I know with success in small things, success in big things is more possible.We will register this fund eventually.
For now I would have loved the fund to be something of an investment club like the one you are the protangonist of. I wouldn't mind adopting your club as the platform for this venture. We can for now discuss the investment vehicles and every body can agree to invest so and so amount and we take it from there. Eventually we can all then consolidate the individual investment into a fund of sorts to leverage on size, maybe becoming strong enough to get people on the board of directors?
I know there are a lot of trust issues inherent in the proposal but we have to get thru them somehow.
We can start by taking a position in Firstbank, maybe in groups of 10, 20 or 100. I am thinking of buying Firstbank on my own, I wont mind putting up to N100,000 in a pot to also buy Firstbank as part of a small fund of 10-100 people.
|Re: Starting 'Acta Non Verba' an Investment Club by barge(m): 1:11am On May 19, 2007|
@ all,especially ijogbon, Dis Guy, Tmoni y los demas ,
Your idea is brilliant and i will suggest you speak with Frank .Am a member of his Betta Club, you guys can discuss merging your ideas . I like your dreams about putting up huge sums to shake up the market.Here we all have a definite purpose, lets take practical steps to actualize these ideas.I will be ready to input my little resources. The journey of a thousand miles starts with the first step.Lets take the first step now.
|Re: Starting 'Acta Non Verba' an Investment Club by arizona(m): 3:24am On May 19, 2007|
good idea. team up with frank. my only question is how those nairalanders living outside the shores of niaja will participate.
|Re: Starting 'Acta Non Verba' an Investment Club by egoldman(m): 8:17am On May 19, 2007|
I am in supporting of merging with Frank club , it would make both clubs much stronger financialy and otherwise , also if the new club would go it alone , who knows someone might come up with their own clubs making it three and b4 you know we would have several clubs with little impact.
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 11:53am On May 19, 2007|
I am outside Nigeria myself. So I am putting your question on my front burner.
Over to you Sir.
I was thinking if we could find a good broker and a good banker they should both be able to advise us better.
I think we have some on Nairaland, Maybe if you know any you can refer them.
|Re: Starting 'Acta Non Verba' an Investment Club by Tmoni(m): 4:02pm On May 19, 2007|
@ mr frank,
we are waiting for your response and lets see how we set up the details, and as ijogbon said,
would not mind startting with bout N100 to N200 k,
since u hv a club, we can see where things go from here.
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 9:42pm On May 19, 2007|
Sorry to disappoint those of you waiting for the minutes of the meeting but it did not hold.
Its really nice and easy for many of us to talk excited on Public fora about how we want to take the market by the storm but when push comes to shove most people are just too laid back to seize opportunities.
After all the preparations that I put in to have only one person in attendance . I should hide my head in shame
|Re: Starting 'Acta Non Verba' an Investment Club by Dis Guy: 9:55pm On May 19, 2007|
Sorry to hear that, Next time get actual confirmation of people coming or instead of suggesting the dates/venue get others to do it (that is if you didnt do that)
On the other hand, you might want to consider MSN meeting/virtual meeting considering the fact that there are others who want to participate but are not in the same state/country.
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 10:52pm On May 19, 2007|
Hey, You dont sound like the kind of man to let a little irritation dissuade you. Remember he who having put his hand to the plough then looks back is not worthy of the task.
Anyway, you have people yearning to be members here. I have the feeling that people want to partake from an Online perspecive like this. You know people are busy and they check the forum at their convienience.
What we are asking is that you educate us on the structure you have put on ground. Did you have to open an account for the club? Do you have a stock broker managing the account? Is the club registered with the CAC? etc.
Post the structure here and let everybody analyse it at their leisure and then decide if they can trust the structure.
I will be going to Naij in June. Hopefully before the First bank PO closes I should be able to take a position and personally too.
Please people I really think we can do this thing. If there are any people in the UK who think we can organise from our end here while people in Nigeria like Frankiriri organise from Nigeria then when I go to Nigeria we can consolidate the plans please give suggestions.
Anyway where are the fundamental, technical and Naija sense analysis on first bank ?
|Re: Starting 'Acta Non Verba' an Investment Club by Dis Guy: 11:13pm On May 19, 2007|
just found the documents he posted some time ago.
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 7:37pm On May 20, 2007|
Dis Guy:I am not sure that would work either. I am virtually the only one posting to the e-forum. Others just treat it as a source of information.
In fact I am taking certain actions that would reduce the number of subscribers to my mailing list. I dont want dead wood on my team
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 7:51pm On May 20, 2007|
I dont think you can call that a little irritation. Initially when I started the club it was made up of my close friends and family. But at a point in time after talking about it on this forum I got more subscribers to the club's mailing list. Many of these people did not know me in person and they stressed the need to have a physical meeting. Some one even wrote me asking for the composition of the club and justified her qeustiions on the ground that she "did not want to fall victim to some brilliant yahoo yahoo thing". For this reason I bought into the idea and decided to hold a meeting where she and others that hold similar veiws can have their fears allayed. Everyone had ample opportunity to make input but no one did. I had a couple of people call and write to say they would not be able to make it. But all in all I beleive that most of their reason dont hold water. They just have not bought into the vision yet
|Re: Starting 'Acta Non Verba' an Investment Club by Dis Guy: 9:20pm On May 20, 2007|
I think a blog or website would be better with passwords for registered members only. I don't know why there was a physical meeting probably because of the trust issue, a virtual meeting with camera links would eliminate some of the excuses given
|Re: Starting 'Acta Non Verba' an Investment Club by ganjaih: 11:33pm On May 20, 2007|
I think frankiriri is on to a good thing here and I have to say that it does sound like a very well thought through idea. Perhaps you need to review the eligibility criteria for those who want the join the club that way only you could attach only people who are committed to the idea
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 12:03am On May 21, 2007|
I want to state here that I am very convinced about what I am doing. The only that that would happen is that it may not be the present crop of people that will see this great vision come to pass.
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 12:25am On May 21, 2007|
ijogbon:In order to operate as a club, you would need to register the club either as a business name or as an incorporated company. The registration of the business name of my club is in progress. I would have long conluded the registration process if not for the inefficiency and insincerity of the previous lawyer that I engaged.The bank would need the business name registration or invorporation cert to allow you operate an account.
My ultimate goal is that I wil run a network of clubs. I am in the process of building a website and I would also be writing an investment news letter.
I would suggest that as a start you can hook up with people in the UK and then set up one there with the primary goal of investing bak home in Naija. You could then subscribe to a goo investment letter or two to keep up to date with the NSE.
I am however open to exploring how we can synergise,
|Re: Starting 'Acta Non Verba' an Investment Club by frankiriri(m): 12:36am On May 21, 2007|
ganjaih:Thanks for the vote of confidence. I will definately whittle down the number of subscribers and ensure that going forward only people that buy into the vision join.
|Re: Starting 'Acta Non Verba' an Investment Club by ijogbon(m): 12:20pm On May 21, 2007|
In order to operate as a club, you would need to register the club either as a business name or as an incorporated company. The registration of the business name of my club is in progress. I would have long conluded the registration process if not for the inefficiency and insincerity of the previous lawyer that I engaged.The bank would need the business name registration or invorporation cert to allow you operate an account.
Good job mate.
I think thats a good idea. So people in the UK and may be Europe I hope we can work out something from this end. I think that might suit us better since there is a good judicial structure here for resolving business concerns.
What do ya'all think?
As I have said I am down and I think we might start with First bank.
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