The N1m shares my dad bought in 2002 is now worth 11,561.46Naira, how? - Craze Clown


https://www.youtube.com/watch?v=BtAyjUX7MXw?si=_OmTzdSrgYZErvcY

Hmm 🤔. Na huge inflation in the economy caused it

1 million naira stock my dad bought for us in 2002 is now valued at N11K” – Craze Crown cries out

He said that in 2002, their father, concerned about their future, decided to buy shares with the expectation that they would appreciate and convert into a large sum of money.


“You have failed as a mother if your son prioritizes you over his wife” -Skit maker Craze Clown

Craze Crown, a popular comedian, regrets the discovery that the one million naira stock his father purchased for them 11 years ago is now worth only N12,000.

The legendary comedian made the announcement on his Instagram page while lamenting the country’s current state.

He said that in 2002, their father, concerned about their future, decided to buy shares with the expectation that they would appreciate and convert into a large sum of money.


Unfortunately, this was not the case, as the currency had devalued to 11,561.46.

He was furious at how worthless it had become and questioned what he was supposed to do with such a small sum of money.


https://www.gistlover.com/1-million-naira-stock-my-dad-bought-for-us-in-2002-is-now-valued-at-n11k-craze-crown-cries-out/

My dad bought plenty shares at different bank with his sweat. I remember 2008 to 2010. God if he had encounter bitcoin then he would have become a multi billionaire. But now the hundreds of thousands he invested then are nothing to write home about

Crazy clown should hold Bola Ahmed Tinubu responsible

Lol.
To save in naira is the worst financial decision anyone can make, instead of saving in naira, but dollar and save it, or invest in real estate or japa

Invest in Nigeria and weep

Urheadmaster:
Crazy clown should hold Bola Ahmed Tinubu responsible

If you are knowledgeable about the capital market, you would know that most people that invested heavily in the market between 2002 and 2008 lost almost everything to the market collapse that happened between 2009 and 2010. His father lost everything even before Buhari became president not to talk of Tinubu.

He should tell us what company shares his father bought and not to generalize. Those who bought into Nestle shares and Dangote sugar and Cement are much happier. It's all about investment education and knowledge.

Who do you blame?

seunmsg:


If you are knowledgeable about the capital market, you would know that most people that invested heavily in the market between 2002 and 2008 lost almost everything to the market collapse that happened between 2009 and 2010. His father lost everything even before Buhari became president not to talk of Tinubu.

SWaccomodator:
Invest in Nigeria and weep

I disagree. It's investment in Nigeria that made Dangote the richest black man on the planet. It's not all about Nigeria, also it has to do with us.
We MUST believe in Nigeria. I do.

Urheadmaster:
Who do you blame?

Market manipulation that happened between 2002 and 2008 especially with banking shares and the 2008 global economic recession. Also, very weak regulatory framework as at then led to further escalation of the impact.

seunmsg:


If you are knowledgeable about the capital market, you would know that most people that invested heavily in the market between 2002 and 2008 lost almost everything to the market collapse that happened between 2009 and 2010. His father lost everything even before Buhari became president not to talk of Tinubu.

Seun you know the fact here, but it’s very unfortunate here, you are hiding from the fact. Buhari and Tinubu government destroyed Nigeria economy. It’s in Buhari government that Nigeria was the poorest country in the world. Stop defending this clueless set of oppressors. You are eating in Buhari/Tinubu government, but it doesn’t speaks to you that Nigerian businesses are collapsing by the day over the harsh Economy APC government established in Nigeria. Stop this your lies and propaganda here. Nigerians know the fact and nothing but the fact.

Lifestone:

I disagree. It's investment in Nigeria that made Dangote the richest black man on the planet. It's not all about Nigeria, also it has to do with us.
We MUST believe in Nigeria. I do.

when BUA refinery continues operation next year 2024, then you will know that Dangote isn’t the richest man in Africa. Dangote is just leveraging his wealth on the increments of cement and other consuming products in Nigeria that he’s producing. A monopolist isn’t a richest man but a clueless manipulator and debtor

SWaccomodator:
Invest in Nigeria and weep

that’s just the blunt truths. The so called monopolist Dangote is investing much in USA 🇺🇸 economy. Dangote now bought billions of shares in USA companies now. The so called Dangote refinery isn’t functioning upon all the promises he promised Nigeria.

Lols

Urheadmaster:
Crazy clown should hold Bola Ahmed Tinubu responsible

it’s very unfortunate Nigeria investors are weeping hard over the harsh economy Buhari/Tinubu of APC settled with. Last week, Mike Adenuga of Globacom lost over $300m of investments over Tinubu harsh Economy. APC destroyed Nigeria economy no be small.

TruthsFM:
Seun you know the fact here, but it’s very unfortunate here, you are hiding from the fact. Buhari and Tinubu government destroyed Nigeria economy. It’s in Buhari government that Nigeria was the poorest country in the world. Stop defending this clueless set of oppressors. You are eating in Buhari/Tinubu government, but it doesn’t speaks to you that Nigerian businesses are collapsing by the day over the harsh Economy APC government established in Nigeria. Stop this your lies and propaganda here. Nigerians know the fact and nothing but the fact.

you can cry for Africa enhhhh, although you never start to Cry... Cry cry baby...

globalresource:
My dad bought plenty shares at different bank with his sweat. I remember 2008 to 2010. God if he had encounter bitcoin then. But now the hundreds of thousands then are nothing to write home about

hmm 🤔. If he was introduced to crypto currency then, he will have one of the silent billionaires in Nigeria 🇳🇬. But no our government in power always stop crypto currency investments on every platform in Nigeria. The government just don’t want progress for Nigeria people. Now it’s the same crypto currency the whole world ventured into now.

Ok.
The depreciation is very alarming indeed

PortHarcourtcit:
you can cry for Africa enhhhh, although you never start to Cry... Cry cry baby...

cry for where, 😂 Tinubu government will soon be over and Nigerians will talk about him and his wicked rules and policies against Nigeria people. Nigerians done move on joor . Since the era of Abach government, Nigerians don move on now. Tinubu bad economic policies won’t still stop Nigerians not to think outside the box. Oya you that looking for Tinubu cakes 🎂 at the centre, oya put your mouth to it 🤩🤩🤩

Playing the stockmarket long-term is stupid.

You are suppose to treat the stock market like a cold shower - quick in, quick out.


That same amount would have been better spent in real estate aquisition, gold or even FX.

In 2002, dollar was trading at about #70 and gold was trading/closing on average of $310 an ounce , translating to an equivalent of #21,000 per trey ounce of gold (app 33grms).

One million naira will fetch you about 50 ounces of gold (app 1.5kg ).

Today a trey ounce of gold is trading at $2,100.

That one million naira investment thrown into the shark tank known as the Nigerian Stock Exchange would have accumulated $100K worth of gold which is roughly #131,000,000.


Gold never gets old.

Easy to stash .

Does not degrade in both value and quality .

Shut your mouth and stash gold in odd places like under the kitchen sink,
inside your wardrobe hanger pole , insude a flower pot.

As long as you don't make anyone around you know you are buying and stashing gold , it's easy to stash around your house in the most innocous places.


Buy gold .

Dump the Jewish financial fiat scam economy .

seunmsg:


If you are knowledgeable about the capital market, you would know that most people that invested heavily in the market between 2002 and 2008 lost almost everything to the market collapse that happened between 2009 and 2010. His father lost everything even before Buhari became president not to talk of Tinubu.

I think it is the inflation he is talking about but I believe the share price has reduced ....I have owned shares since 2006 and it is worth millions of naira now because of the prices now. There are many factors that contributes to fall in value of shares.

TruthsFM:
Seun you know the fact here, but it’s very unfortunate here, you are hiding from the fact. Buhari and Tinubu government destroyed Nigeria economy. It’s in Buhari government that Nigeria was the poorest country in the world. Stop defending this clueless set of oppressors. You are eating in Buhari/Tinubu government, but it doesn’t speaks to you that Nigerian businesses are collapsing by the day over the harsh Economy APC government established in Nigeria. Stop this your lies and propaganda here. Nigerians know the fact and nothing but the fact.

Must you expose your ignorance?

TruthsFM:
Hmm 🤔. Na huge inflation in the economy caused it

1 million naira stock my dad bought for us in 2002 is now valued at N11K” – Craze Crown cries out

He said that in 2002, their father, concerned about their future, decided to buy shares with the expectation that they would appreciate and convert into a large sum of money.


“You have failed as a mother if your son prioritizes you over his wife” -Skit maker Craze Clown

Craze Crown, a popular comedian, regrets the discovery that the one million naira stock his father purchased for them 11 years ago is now worth only N12,000.

The legendary comedian made the announcement on his Instagram page while lamenting the country’s current state.

He said that in 2002, their father, concerned about their future, decided to buy shares with the expectation that they would appreciate and convert into a large sum of money.


Unfortunately, this was not the case, as the currency had devalued to 11,561.46.

He was furious at how worthless it had become and questioned what he was supposed to do with such a small sum of money.


https://www.gistlover.com/1-million-naira-stock-my-dad-bought-for-us-in-2002-is-now-valued-at-n11k-craze-crown-cries-out/

This has nothing to do with inflation because if it were due to inflation , those shares should be trading upwards of hundreds of millions .

The company is a shitty company whose value plummeted below its original opening price.

I am sure it's now trading at less than 2kobo a share against the original standard offer of #10.

This has to do with the sharp practices and lack of regulation that plagued the NSE in the early 2000s .

It was a shark tank back then and every idiot with a CAC liscence could play the crap tables known as the NSE.


I won't advice my enemy to put one kobo in the NSE.

TruthsFM:
that’s just the blunt truths. The so called monopolist Dangote is investing much in USA 🇺🇸 economy. Dangote now bought billions of shares in USA companies now. The so called Dangote refinery isn’t functioning upon all the promises he promised Nigeria.

he is a business man,he can invest anywhere he pleases but the number one rule of every business man is to invest in his/her home country first.

lionshare:


Must you expose your ignorance?

you can never accept the truths and reality here. Be living in clueless ignorance here

Bizibi:
he is a business man,he can invest anywhere he pleases but the number one rule of every business man is to invest in his/her home country first.

nope I disagree with you here . Current economy under Tinubu leadership is unbearable.don’t invest oooo

Is your dad available for kidnap?

TruthsFM:
nope I disagree with you here . Current economy under Tinubu leadership is unbearable.don’t invest oooo

I am still investing for the future. This administration will end and another one will take over.....

Bizibi:
I am still investing for the future. This administration will end and another one will take over.....

very dangerous

Bizibi:
I think it is the inflation he is talking about or the share price has reduced ....I have owned shares since 2006 and it is worth millions of naira now because of the prices now. There are many factors that contributes to fall in value of shares.

It depends on the shares of the company you bought. Most people before 2009 bought overvalued banking shares. A lot of the banks are dead or have her acquired by other banks at ridiculous prices.

First bank is one of the biggest and most capitalized banks in Nigeria till today. They did a public offer in 2007 at about N30 per share. As at the close of trading on Friday, First bank share was sold at around N16. If first bank has lost over half of her share price since 2007, imagine how the portfolio of someone that invested in BankPHB, Diamond bank, First Atlantic, Skye bank, Oceanic etc would be right now.