At the peak of the stock market boom, people were encouraged to massively invest. A friend of mine would often say :if you have two cars, two houses and/or two wives, sell one and invest the proceeds in the stock market.

Since the decline, those who followed such advice and invested massively have been seriously affected.

In my own case, my investment in one of the recently sanctioned banks has dropped by about 90% from the value about this time last year. An investment of N3m is now worth only about N200k+.

I had planned to pay off some obligations with the investment before the bubble burst!

I know of some who were unable to pay their school fees having invested what they had in the market.

Could you share your own experience?

As for me, the thing did not just affect me, it has killed me.I put everything i had there (which was quite substantial) while still in school and my plan was to make some turnover and go for my masters immediately after service and/or start my own business.Now i don't have anything on me worst still, i have not secured a job yet.I have a long story to tell,

@ IykeD,
Sorry to hear that.

Any more takers?

.

@poster
The thing whole stuff still looks like a mirage to me, don't like talking about it. I leanrt the five banks undertake over are heading to 50kobo by december to pave way for foreigners to buy them at penny stock price.

investment of 1.4million naira as at nov 2007 don turn 552k for me, cant sell , not happy wit it at the same time, guess just gotta keep waiting and hoping,

guy just relax it will come up as soon as the banking saga is over.

I dont see the market coming up any time soon. People will be more cautious with their money. I am no expert in these things but it is not difficult to see that an unindustrialised nation like ours is not ripe for the stock market games we play.

guys remember that the recession is over and stocks around the world is going up.
why ours is still down is because of the problems in the banking sector. i think when the results are released and they are good it will make the market to come back live. as a matter of fact i still buy stocks.

@malele. i think u neva LEARN wit dis disgraceful situation on ground u still want to buy more GOD SAVE UUUUUUUUUUUUUUU
THIS SCENARIO ON GROUND SHOULD SERVE AS LESSON
THE CAT AND MOUSE GAME THEY ARE PLAYING WITH OUR HARD EARN CUREEENCY(bank and debtors)OLOLO and co

tunyus:

@malele. i think u neva LEARN wit dis disgraceful situation on ground u still want to buy more GOD SAVE UUUUUUUUUUUUUUU
THIS SCENARIO ON GROUND SHOULD SERVE AS LESSON
THE CAT AND MOUSE GAME THEY ARE PLAYING WITH OUR HARD EARN CUREEENCY(bank and debtors)OLOLO and co

nothing wrong with stock market (apart from naija own sha) the only problem is the type people got used to, quick money, investing in the stock market over a long period(a year plus) will always bring profit unfortunately in the nigerian market- long period is like within two weeks, 3 months etc etc with a lot of mago mago behind the scenes

As for me I took the 'Don't invest what you cant afford to loose' Advice; in fact I'm getting ready for after the clean up

i started stock market investments way back in secondary school.my massive investments in banking and insurance have all wiped out, i guess the stock market is just a big mistake, never again

It murdered me. From about 9 mil to 300k. But well thank God 4 forex.

Wow, I most say it is really a BLOW to my dick. U knw how it hurt wen some1 hit ur kingdom, tat hw it hurt but I came to console myself tat since I don't need the money in 5 years why dont I wait and see the stock market performance. I invested 1.5ml into banking and not it worth like 150k-200k. It look as if I watch the invested burn down by fire without me been able to save it cos am tie up in chains. I hope it come up soon cos I can't afford to loose that much. My advice to any takers is to sit down and see. Don't think of selling ur share cos U r going to go bankrupt. It is worth waiting for so lets wait.

i dont wanna remember this it really hut me

My polifo used to be about 2.9m but it is about 400k now but I am sincerely not bothered. One the money belongs to me 2. I wasn't investing for the immediate future 3. I am learning from the crisis in fact praying for it to continue a bit more till I am done buying up all my loses 4. I started the market with 200k meaning I still have some profit.

my friends u have to take the risk and invest just like am doing now.
only two things will happen
u become rich or u lose some money,and none of them will kill u.

Ask Peter Ololo

a guy came to me and told me to invest 2million naira in the stock market dat within 6 months i will be smiling to the banks. i told him i don't gamble most especially in the Nigerian environment. he said am not a good businessman that my mates are reaping millions in the stock market while am busy piking kobo. i simply told him dat i prefer seeing my investment and managing it myself. i dnt beleive in abrakadabra!

i told him i will rather use 1million naira and open various call centres or invest in okada business, it will be more successful than investing in stock market because i will be creating some form of jobs for our teaming jobless youths.

i saw this same guy yesterday and i ask him how about the stock market thing he simply said to me "forget it man de thin dey crash like cars on lagos ibadan expressway!" i wonder what he would av told me now if i have followed his advice and invested in stock market.

Nigerians please its time we start thinking about tangible investments not gambling in the stock market!

the whole lot of you that have lost heavily, the stock brokers call you 'losers' and they will encourage you to be patient and invest more that you will be a 'gainer' one day! and funny enuf many of you will still invest again.

For those of us who have made so much money in the market b4 the crash, making losses is part of the definition of business. The worst hit are those that hop unto the train when it was about to crash. I guess when a warrior comes back alive from a war, it is only to prepare for another war. I still dey kampe.

To me digity in the financial sector in Nigeria has been soiled!
Dearly beloved, just believe that, God will judge all those responsible, for the so call, declined!

It actually affected my father!

I have lost a lot but not up to 50% of my initial investment. For those of us who traded by selling during the boom days, we did not really lost. Boots & dividends are still coming if u are monitoring your money invested

It is so painful, and have always avoid discussing it. But my consolation is that, I had invested for the future, i hope it pays off eventually. The funny thing was that I was still sweet talk into investing when the market started picking up in the first quarter of this year.

@blaksril,9mill to 300k? hun na whaooo.Where did you invest?

Its so painful. Imagine someone starving so as to be able to invest in shares. I have lost close to 10 Million in all. But the most painful was buying 100,000 units of TRANSCORP shares @ N7.5 as well as pay for commission. Transcorp now sells for N0.50. The company is yet to declare dividend nor give bonus.

The good thing is that i now have "something" to include in "MY WILL" for my unborn children.

Many people do not know much about this stock market, all they hear is that you can make money in the stock market and they jump in , they dont have a financial plan nor have a financial goal. In the history of stock market in US, UK and all over the world ,there is always a reccession and expansion ,presently we are witnessing the recession and it will soon be over. Somethings ago in the U.S stock market the market was bear for about 38months.So ,guys it is not a new thing, early this year WARREN BUFFET is the greatest investor of our time,for the past 20 years he has remained the world's richest man.He popularly called the oracle of omaha.Buffet's famous admonition to investors is to (Be fearful when others are greedy and greedy when others are fearful) this meltdown is an opportunity for people to invest more because very soon the bullish market return!
so keep investing,

bayourgold:

Many people do not know much about this stock market, all they hear is that you can make money in the stock market and they jump in , they don't have a financial plan nor have a financial goal. In the history of stock market in US, UK and all over the world ,there is always a reccession and expansion ,presently we are witnessing the recession and it will soon be over. Somethings ago in the U.S stock market the market was bear for about 38months.So ,guys it is not a new thing, early this year WARREN BUFFET is the greatest investor of our Tim[/b]e,for the past 20 years he has remained the world's richest man.He popularly called the oracle of Omaha.Buffet's famous admonition to investors is to ([b]Be fearful when others are greedy and greedy when others are fearful) this meltdown is an opportunity for people to invest more because very soon the bullish market return!
so keep investing,

YOU TALK AS IF U DONT KNOW THAT OUR RECESSION IS A MANIPULATION B/W BANK CEOs & PEOPLE LIKE MR PETER OLOLO. WHAT YOU ARE SEEING IS JUST THE FALLOUT.

IF WARREN BUFFET IS A NIGERIAN IS ADVICE WILL DEFINETLY BE "BE FEARFUL ALWAYS AND STOP BUYING SHARES UNTIL PETER OLOLO FINISHES PAYING ALL HIS DEBT.

lost about 5-7 thousand dollars in foregone wages this year so far,

guys remember that the recession is over and stocks around the world is going up.
why ours is still down is because of the problems in the banking sector. i think when the results are released and they are good it will make the market to come back live. as a matter of fact i still buy stocks.

@who said the stock market all over the world is bottoming and its just nigeria.there are still major concerns all over the world especially on the US economy which is still shaky.The US economy is a consumer and people are not really buying because they have no jobs,so how will they pay for goods and services.
Since the begining of the year americans have lost 5 million jobs due to this melt down,
so we are going to see little rallies but more of bears since most stocks all over the world have been over bought.

I lost about 20million naira to the stock market crash and its affected me a whole lot.I believe in the maxim that when there is life there is hope. Life is all about ups and down and i believe the market will definitely rebound one day. The truth is we should be expecting a full recovery by year 2011, the Nigerian stock market was subjected to alot of price manipulations, irregularities and poor corporate governance. The D.G of N.S.E has failed nigerians and i believe the most honourable thiing is for her to resign.