neyohh:

So what's your solution?

Development is a slow and steady process, there are no shortcuts.

Tackling corruption, infrastructure (transport, electricity, communication), security challenges, reducing government intervention in currency and businesses like running ports and refineries, etc.

These are the sorts of things Nigeria ought to concentrate on. Printing money in the mistaken belief that you are in the same position as the US, the EU, Japan is counterproductive as proved during the military era.

It's depressing to see how uninformed some Nigerians can be in their bid to justify the indefensible.

Nigeria cannot afford to print money like developed economies because Nigeria's currency does not command the same respect/value as the dollar, euro, yen, sterling, etc. No one outside Nigeria, unless out of necessity, wishes to be paid in naira and arguably many Nigerians would prefer to hold forex like dollars or euro. We have seen our currency fall in value from $1 to 1 naira to $1 to 460 naira. In such an environment, printing more naira will cause the naira to depreciate further increasing inflation (look at the stories about the rising cost of goods).

It's in recognition of the damage to confidence that money printing can cause that prompted the finance minister to deny the claims.

If money printing was the panacea to our problems, we would easily solve poverty. The alarming thing is that money printing was normal during military rule (which is when the naira lost most of its value) but it doesn't seem to have dawned on many Nigerians that it was an abject failure and one of the reasons Nigeria is impoverished today.

Kennyking1234:
Actaully now is the best time to invest, as "you said for the long term".

It depends what you're buying for the long term. The overall market is expensively priced if you use metrics like the price-earnings ratio so not much bargains out there.

If I had to buy US stocks for the long term but which come with high risks, I will buy the likes of Gravity Co (GRVY), NMI Holdings (NMI), Freedom Holdings (FRHC), Zynex (ZYXI), Eagle Bancorp Montana (EBMT), SelectQuote (SLQT) and Regeneron (REGN).

By long-term, I mean buy and hold for 3 to 5 years. Because, the overall market is expensive, prepare for huge drawdowns in the short-term. But in my view, the companies I mention represent good value (lowish price-earnings ratios) and high growth in earnings and revenues.

ElectronicMoney:
I don't agree with your number 1

For me, it depends on why a person might average down. If one buys a stock with a blind hope that it goes up and sees the stock fall significantly, averaging down seems counterproductive as the initial trade/investment was not based on any informational edge.

If you have done diligent analysis and made the initial trade based on information/knowledge arising from your this analysis, then averaging down makes sense. If you thought Tesla was good value at $900, you would think $600 is even better value.

For most people here who seem to be chasing momentum stocks (high flying stocks) to make a quick buck, I would caution against averaging down.

Education, like most things in life, doesn't guarantee material success but it improves your chances. If being uneducated/under-educated was a good thing, the average Northerner would have better living standards than the Southerner.

Nigerians sometimes over indulge in credentialism, but that is the least of our problems.

As for those touting Elin Musk as an example of a success without degrees, a simple Google search would show he is overeducated up to the point of getting into a PhD programme. Yes, he didn't finish his PhD but that is because he had a compelling and lucrative alternative career route to pursue.

RabbiDoracle:


When I say things, just jot them down and revisit it. Gamestop is going to $2.

I will not hang around here for so long. I'm just a messenger passing my message so that foreign equity investors will not lose money.

Developed markets will fall, others will follow due to contagion effect. Ultimately, emerging markets will re-emerge.

This guy was bashing Gamestop when it was $7. SeekingAlpha contributors called for an impending short squeeze in Gamestop back in August

https://seekingalpha.com/article/4370860-gamestop-short-squeeze

Unfortunately, SeekingAlpha is now behind a paywall but you can get 5 free articles per month.

Bumiite:


Chai...I com shursh late. Why I no com elders meeting yesterday?

+234%

The stock opened yesterday at $22.51 so if you bought around the open, in response to the post, you will be sitting on a loss by close as it closed at $18.00.

Still looks good based on pre-market trading.

The idea that Nigerians are corrupt because of poverty is naive. Corruption is a way of life that results from lack of accountability.

Since 1999, government workers have received significant salary increases - lecturers, soldiers, police, customs, etc. It hasn't made them less corrupt. During Yar'Adua/GEJ's govt, wages more than tripled with minimum wages going from N5k to N18k. There was no reduction in corruption as a result.

Instead, salary increases lead to "lifestye creep". The higher someone's income is, the higher their taste for expensive things. Think of the SARS officers that march people to ATMs, they're likely better paid than regular police officers who ask you for N100. Increasing wages without accountability/repercussions for corruption is a recipe for producing even more extortionate police officers. This is why your National Assemby legislators are never satisfied, the more they receive and get away with the more they demand. If possible, we will get to a point where senators demand private jets.

Leezah:
Good morning OakPearl

I have read from page 1 to this current page. I don't understand the NSE so I decided to join US stock market because divided are paid quarterly or monthly.

I have downloaded the trove app , done KYC.

Please I just have =N=10,000 to invest

What stocks are good to buy?
Should I grow my money or invest in dividend paying stock?

Thank you for your anticipated response.

I am not sure buying through Trove will give you access to dividends. Chaka will definitely.

If he said all that, it should be enough for the London Metropolitan police to investigate for incitement to violence/encouraging the commission of a crime or something along those lines.

handsomebolanle:


Lols...only If you know how this stock has suffered many... At a point I had take my loss by selling half of the units I had... Even with the rise today, I'm still drowning at a loss...I just won forget the stock...I'm doing better on NSE wahlai

Avoid or reduce exposure to highly volatile stocks. There is a stock market saying, "there are old investors, and there are bold investors, but there are no old bold investors."

You can make a killing on volatile stocks sometimes but you won't be able to sustain it in the long run. If you have to invest in stocks, invest in large cap less volatile and high quality names. Yes, prices appreciate slower but you get a more sustained appreciation than all these "schizophrenic" volatile stocks that people on this thread love so much.

A note of caution about sharing information about our trading accounts and ensuring online security:

For just a few dollars, criminals are selling credentials for customers of E*Trade, Charles Schwab, TD Ameritrade, Robinhood and others, according to New York-based security firm Intsights. The demand has only increased during the pandemic, according to the firm's chief security officer Etay Maor.

"You have more people wanting to do more online from home, and on the other hand the attackers who are actively looking and seeking to take advantage of this situation," Maor told CNBC. "What you end up with is a lot of credentials, and a lot of information being bought and sold on the criminal underground."

The list of vulnerable accounts range from social media sites, to payments app Square, and trading start-up Robinhood. But Robinhood tends to fetch higher prices, according to multiple screenshots of the listings seen by CNBC.

"They were on a higher price point which leads us to believe they were probably easier to get the credentials for and get in, or easier to cash out," Maor said.

Social media bait

Another reason Robinhood may be more valuable in the eyes of hackers is their clients' use of social media. By "trumpeting success" on Twitter and Reddit, they are likely putting targets on their backs, according to Richard Bird, chief customer information officer at Ping Identity. The online bait creates "exactly the kind of environment that hackers love."

https://www.cnbc.com/2020/10/14/brokerage-log-ins-for-sale-on-dark-web-robinhood-sees-highest-prices-.html

Better to ask for tangible reforms. The government can abolish SARS and set up a new unit that is the same old SARS but with a different name.

Tobex4realTobex234:
Is anyone subscribed to Moetley Fool's picks here ?

I hope this subscription doesn't involve paying money. You are better off reading this thread.

If you need a different perspective, try www.seekingalpha.com. There is also www.street.com

Priceless25:


Comments like yours are the reason why Nigeria is stagnant, I lost money and you called it "Selfish reason"? Are you dense or just a plain simpleton? it'll be best you hopelessly keep to yourself before I transfer my aggression to you. $1000 is a "Selfish reason"? Bloody nitwit.. People like you put buhari where he is today, never rising to challenge the status quo, always ready to accept garbage. Irking neanderthal!

His comment and tone was a bit condescending but his central point - expect technical glitches anywhere - is correct. Yesterday, I had it with IG Markets, probably the UK's most popular and one of the most highly rated CFD brokers who happen to charge commissions at double the rate of some of its rivals. See a story below about the one we had in March in the middle of a highly volatile market:

Clients of IG Group are reporting problems using its trading terminals.

Clients of IG Group are reporting problems using its trading terminals. Several users are complaining about problems logging into or using the broker’s platforms on Thursday, and complaints about reaching to help phone lines also began to climb afternoon.

https://www.financemagnates.com/forex/clients-of-ig-group-suffer-system-wide-outage-broker-says-back-to-normal/

The Yanks have the same problem:

Users of a number of popular trading platforms on Monday complained of downed systems, slowness and an inability to trade, coming as two of the two most prominent stocks were trading on a split-adjusted basis for the first time.

https://www.marketwatch.com/story/popular-trading-platforms-td-ameritrade-robinhood-others-face-outages-as-tesla-and-apple-stocks-split-2020-08-31

You will eventually experience it at Trading 212 as well. Though I think the Naija fintech platforms are worse than I have experienced in the UK. They need to work on this.

But if "order execution risk" might make you lose a painful amount of money, perhaps rethink your strategy.

The problem I keep highlighting is debt and high recurrent expenditure on salaries/pensions. States like Lagos took up dollar-denominated debt in the Fashola years. A loan of $1bn 10 years ago would have cost N155bn to pay the principal (not to mention interest costs) but is now N380bn (not sure what the official exchange rate is).

This leaves little or nothing for successive governments to pay for capital expenditure: building/repairing roads and bridges.

Tax revenues are swallowed up in paying for debt and salaries.

tiger28:
Have you NOTICED the PEACEFUL attitudes of the POLITICIANS on the losing side of the recent edo election Visa Ban is the BEST weapon against Nigerian Politicians. See HOW they are trying to use gra gra with UK Most of their Children are either Schooling in the US or UK and some have homes and business there too. They don't need this wahala.......FOOLS!!!!

It's not enough to persuade them when the stakes are high. If the choice is between having political power and the wealth it brings on the one hand, or losing access to this via free and fair elections on the other, a lot of politicians will choose the former even if it means visa ban. They can also still fly to Dubai, Australia, Monaco, the Caribbean, etc

Just saw this on Twitter. Part of the Trump administration's racist policies.

It's important to note that under these proposals, you can still study for a four year degree as a Nigerian but you will have to renew your visa after every 2 years.

This is why it's hard to trade stocks, had an inkling something was brewing with GameStop but wasn't entirely persuaded.

(Bloomberg) -- Ryan Cohen, the entrepreneur who built Chewy.com into a pet-supply giant and sold it for more than $3 billion, is now pitching GameStop Corp. on a lofty goal: becoming a true competitor to Amazon.com Inc., according to a person familiar with the matter.

The video-game retailer’s shares jumped as much as 28% in premarket trading Tuesday, after Bloomberg News reported Cohen’s plans late Monday.

https://finance.yahoo.com/news/top-gamestop-investor-wants-turn-232245844.html

Keinding:



Hey!
Though your question was for others to answer, let me add a few pointers fundamentally...
In the EV space and indeed the broader start up scene, three things to note:

1) proof of concept: On this Nikola fails. There's no proof that shows this product in reality. All talk here is future tense. It's hard for investors to be swayed by something that is simply design aesthetic. At least we see tesla with the roadster,cybertruk etc
We see Hyllion with a proof of concept that actually works.

2) Scalability: Nikola has not shown any roadmap on how they intend to scale their trucks. How fast can they scale orders of thousands when such are demanded? Where's the factory? What is existing currently? How can they react to demand and supply?

3) Good management: As we all know, mgt can make or mar your investment and that is why investors take time to buy into the person behind the product before they buy into the product or company itself(e.g take a look at the board of Hyllion, then you have Elon Musk for Tesla)
I'm not convinced Trevor is the right person to take this company to the moon as his actions and utterances leave much to be desired.

Their last earnings shows profit of $36k for a car company and wait for it, the profit was from something not related to car sales!

I still maintain it's a speculative play at best and I have no interest in buying based on the above pointers.

Invest wisely!!

This is a good concise analysis of Nikola. It's something we should do more of - weigh the pros and cons of each company.

I am still swayed by the deal they did with GM and you will think GM had done their due diligence on Nikola. But I don't know much about the deal so it might not say much about Nikola's credibility.

An update into the Nikola fraud investigations:

RabbiDoracle:


Sheer luck? Hmmm...

Hope you know people do research to find the directions prices will take? The researches are backtested and fine-tuned to match other asset classes.

So Renaissance Technologies strategy is sheer luck?

Have you heard of Chaos Theory before?

Let me simplify it for you. When protesters move on the road, they usually move in a haphazard form if you are viewing them on the ground. However, if you are viewing with a Drone, you tend to see a pattern of straight lines or huge circle formed my large mass of people.

Price movement can be haphazard at first glance, randomized or chaotic to some. But a careful look at it will show you a tradable pattern which gives some smart money managers good gains.

Stock investing has evolved. No longer like what we knew in the past.

There is a big difference between the Ed Seykotas and Jim Simons (Renaissance Technologies) of this world and the vast majority of investors.

It's one thing for a group of MIT maths PhDs to find patterns, the rest of us can't find tradable patterns even if we spent our whole lives looking for it.

Be also aware that the human mind is inclined to find patterns even where there are none. This is how our mind imposes a sense of order, it's a type of heuristic we deploy. There was a great book by Nicholas Taleb called Fooled by Randomness which highlights all this. It is mathematically probable that given millions of people trading/investing, some are going to enjoy wild success just down to randomness.

My take is that randomness explains a lot of our (ordinary investors) success in bull markets. I pointed out some time ago that if you closed your eyes and randomly selected stocks out of a list of SP500 stocks since March, the vast majority would bag you profits. The problem is obviously that over a long timeframe, you are likely to underperform the indexes.

Atouke:
They all have bank Accounts, kids and relations in US, EU and UK , The ban also include those . That's why they are scared. For Nigerian Politicians now, if you rig elections, your bank accounts in oyibo land will be frozen, your kids in Oyibo schools will be sent home and your relations will be banned from entry into oyibo land and the politicians themselves will not be able to go for medical check up Abroad.

this is scary stuff for Nigerian politicians, that why they are wary of rigging.

This is one of the major reasons the APC rigging machine went to sleep on this election, no politician wants to risk being banned by oyibo

There is a possibility of all that but it can be challenged in UK or US courts. I think politicians will keep rigging but in a less brazen fashion. If they don't rig, many will be powerless and risk facing the wrath of our legal system. Faced with such a choice, some will keep rigging in the same way Mugabe continued despite western sanctions.

A chimp that chose her portfolio of Internet stocks by chucking darts at a list of companies has been hailed a financial whizz kid by her keeper. Six-year-old Raven delivered a 213 per cent gain on 1999 outperforming most of the yuppies on Wall Street. Indeed, had she been employed at a Wall Street Mutual Fund, it's claimed her performance would have ranked as the 22nd best money manager in the country -- outperforming more than 6,000 Wall Street pros.

https://www.theregister.com/2000/01/13/wall_st_chumps_lose_out/

This story is insightful as it highlights that positive market returns in bull markets are just as attributable to randomness as to skills. We often make money in the stock market, like this year, through sheer luck and not skill. Of course the monkey's [b]returns will deteriorate over a longer length of time,[/b]same as our returns. So being cautious, less egotistical, and upgrading our skills/knowledge will be beneficial.

RabbiDoracle:




It is not just about saying that there is a good chance that there will be a fall based on the uncertainties. It is discovering it on time and reversing your trades (close longs, open short). This is what smart investors do.

The investing landscape has changed and the world of investing would come you if you don't change with it. More like survival of the fit.

You are not that pessimistic because you don't know where it was coming from, neither do you know where it is going to. If you have arrays of data that you look at, then you will understand that Ike gwuru.

For now, make I keep kwayet and watch.

I have long reduced to mainly cash position in August but if I think there is a huge sell off coming, I will add shorts to hedge/profit. All my remaining positions, apart from one, are long-term holdings

Right now, it's only people over-exposed with more money than they can afford to lose or have a lot of "one-chance" stocks (high volatility and high risk) that should worry.

Besides, stop scaring people, have you not read on here that if you keep buying stocks after "due diligence", you will become rich?

RabbiDoracle:


Any upswing on SP500 will be sold into and will not last.

It will revert to the mean of 1,800.

By then those investors still hanging on will exclaim : ike gwuru!

Prophet of Doom

There is a good chance of markets declining with all the uncertainties out there but I am not that pessimistic.

BullBearMkt:

@4Play, a good buy of LRCX. The stock seems ready for a buy swing trade...

With the 2 week LRCX candlestick showing bullish engulf, Lam Research Corporation may be ready to rally up to re-visit the Bearish Order Candle ( BOC ) at $347.19. Depending on market open on Monday, a gap-up above current price would likely be good to enter the stock at 306.22 while gap-down below current price might be good above 292. There is possibility for the stock price to drop to 270.

Risk: Market sentiment remains bearish .

I am holding this for the long term (I always say that and get excited and take profits early). But in all seriousness, I think it's a quality company to buy and hold for a few years and I would only reconsider if the policy/economic environment were to severely deteriorate.

As for the technicals, you are right. It does look like a potential inflection point has developed. I am a keen user of simple moving averages (SMA), particularly the 50, 100 and 200 at day, week, and month intervals. It's held up okay at the 200-day SMA but it's still delicately poised as not much buying has occurred, it's merely kinda gone sideways, bouncing between the 100-day SMA and the 200-day SMA.

Hey! Has anyone else seen how Gamestop performed? I got out early because the fundamentals have sucked but my instincts about the technicals seem to have been vindicated. Rabbi The Oracle thought it was going to $2 when it fell to $6 but it closed the week at $9.47. See screenshot below - that breakout from consolidation on large volume was partly what prompted me to do a quick trade:

Madibahisback:
Nothing good comes out of this state

The frequency of reporting criminality isn't necessarily indicative of the actual frequency of criminality.

There could be any number of reasons why bad news from Ogun state gets reported on a lot: proximity to Lagos and major news outlets, higher population, higher internet usage/communication, ethnic animus (even intra-ethnic resentment of Egbas), etc.

If a crime happens in one village in Nasarawa, you are probably less likely to hear of it (unless it can be attributed to Fulani) than if it happens in Abeokuta.

seyisanya:
I tire ooo. The other day one was sounding like a broken record, preaching an extreme conservative approach to investing in the stock market, only to come back again that he also bought some individual stocks at some point.

We have to understand that there is no one-way approach to making money in the stock market. I don't know the number of times we need to re-emphasize that everyone should do what works for them!

It's obvious from your posts that you have 2 severe shortcomings: investing experience and comprehension ability.

You haven't been in the market long enough to realise how difficult stock picking is and to acquaint yourself with the fact that passive investing, what you call an extremely conservative approach, is to the contrary, a very common and popular approach.

My stating that investing in indexes has been proven to be a better way to invest for retail investors isn't simply a stylistic preference. It's similar to saying that driving without seat belt (stock picking) increases the chances of harm than with seat belt (index investing).

For me, I've got a relatively small amount of my investing capital (about 10%) in stock investments mainly for the fun of it and to potentially benefit from that minuscule possibility that I might hit pay dirt.

So I always insist at every opportunity that people shouldn't hang too much hope that they will enjoy fantastic success in stock investments in the long run. Do it as a diversification/fun play with money that won't affect the quality of your life if lost. 2 of the most successful investors ever - Warren Buffett and George Soros - only made 20% per annum returns over 40 years. The chances that anyone here will come close to that is very slim. Not one person on here who has a contrary view to me on this has a long-term track record of success in picking stocks. You can't say something works when none of you have done it for long! It's all people who started dabbling in the markets in the last few months or years and believe I am preaching against their destiny to become rich.

Basing decisions on actual evidence is what we as Nigerians should inculcate. This is the building block of progress and how knowledge and life improves.

BullBearMkt:

...Lam Research is also on my watchlist & may likely fall further and since you are buying for long term, I think that's a good buy. Price below 245 seems to be a better BUY ENTRY

Yes, I think the whole US-China tech war could weigh on it whilst Trump is in office so it might go all the way down to 245 as you say. I am looking at 225 (May/June lows) and even the March lows around 180 as support levels.

But with long term holdings, I'm happy to buy at or near the 200 daily simple moving average. It's got great fundamentals so I'm content to hold it at these levels.