Acta Non Verba, But Words Do Speak!

Hello people.

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 idiot 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.

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?

An investment club for the stock market or an investment club for nospecto and co?

@Cheexy
I do dont I ?
Well I just finished a 20,000 word dissertation so I am still addicted to surfing most of the day.

@Dis Guy
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.

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.

The idea of an investment club sounds really good. For us novices, could someone please explain how they work in practice,

Hi Guys,

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.

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.

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.

GOVT RAISES MINIMUM FUND PORTFOLIOS FOR CAPITAL MARKET
A new minimum capital base was yesterday approved by the Federal Government for all capital market operators in the country, with December 31, 2008 as deadline. The Minister of Finance, Mrs. Esther Nenadi Usman who announced the new minimum capital requirements, also approved a reduction in transaction costs in the capital market by about 40 per cent. Under the new capital base regime, which takes immediate effect, the minimum paid up capital for issuing houses has been increased from N150 million to N2 billion, while broker-dealers' capital base has been increased from N70 million to N1 billion. Clearing and settlement agencies are now to have a capital base of N1 billion up from N500 million while registrars are now to have N500 million, up from N50 million. Underwriters, who before now had a minimum capital requirement of N100 million are now to have N2 billion, while that of fund/portfolio managers has been increased from N20 million to N500 million. In addition, the capital base for corporate sub-brokers with a current capital base of N5 million was increased to N50 million. Guardian front page.

You can see my yahoogroups web page for the investment club that I run
http://groups.yahoo.com/group/bettainvestmentclub

@ everyone
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

Yes4u:

Hi Guys,

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.

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 !!!

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}

Hi
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.

frankiriri:

@ everyone
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

@Frankiriri
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.

@ 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.

@
good idea. team up with frank. my only question is how those nairalanders living outside the shores of niaja will participate.

barge:


@ 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.

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.

@Arizona
I am outside Nigeria myself. So I am putting your question on my front burner.

@Frankiriri
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.

@ 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.

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

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.

@Frankiriri

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 ?

Carpe diem.

just found the documents he posted some time ago.

https://www.nairaland.com/nigeria?topic=43749.msg958086#msg958086

Dis Guy:


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.

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

ijogbon:

@Frankiriri

Hey, You don't 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.

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

frankiriri:

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 don't want dead wood on my team

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

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

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.

ijogbon:

@Frankiriri

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.

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.

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,

ganjaih:

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

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.

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,

@Frankiriri
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.