Thanks Bro.

You are actually right - Stocks can swing both ways which is why I also personally do not commit more than a certain percentage of my portfolio to it.


Another strategy which I am sticking to as regards these foreign stocks is to stick to ETFs/Index fund for now. The historical report over the past 20 years have been good and the consistency is commendable due to the diversity of portfolios.

I am not looking for quick bucks so I would play safe and manage the relatively decent earnings that come from it.


NB: I laughed at your comment about Nigerians basking in the euphoria of being able to access foreign stocks - You are actually right. A lot of people have found themselves playing in ETF exchanges worth Billlions of dollars in capitalization and all of a sudden the NSE is looking like childs play.


Thanks for the advise - Spot on as always.

DexterousOne:


That's a good move

However I must warn you
The US markets is like the wild west
I have been cautious about jumping in with both feet

Because I know what can happen when it happens
Many Nigerians are still basking in the euphoria of having access to owning US stocks from.here

But when what comes with it comes with it
Knowing Nigerians for who they are
They will begin to wail lmao


Its better t0 have a buy and hold strategy
With a mix of regular index funds and REITs
Maybe say 20% of the foreign portfolio lot for speculation

That's a safe play for slow and steady growth
But I have seen it again and again
Young Nigerians In the quest for quick riches
Bungle this thing up

jedisco:
Some people are misrepresenting the currency conversion thing and are not considering the relativity which is the bedrock of the discussion. It's like comparing apples to oranges.

The fact is that even though basic items in $/£ may be more expensive when directly converted into Naira, looking at them in real terms, you'd see they are cheaper for those living and earning in the west. That's the advantage of having a stable currency with a high standard of living

Take certain examples.
1. Someone earning about 150-200k in Nigeria should roughly earn between £2000-3000 after tax working in a similar field abroaf. Asides rent (£350-550 or 15-25% monthly), you're likely to spend a greater percentage of your income on virtually every other aspect of living and still get a lower standard for such if you were in Nigeria.

Take food for e.g. Even if you set out to be obese, as far as u cook your food, it'd be very difficult to spend over £200-300 a month on feeding. £10-£15 would make you a full pot of stew which will include a large sized chicken, 3-4pcs of large mackerel, good quality rice + fresh vegetables/salad to go along. That pot would easily last a single person 2 weeks. Now what percentage of income has been spent about 0.5%. Someone in Nigeria would spend about 7,500 asides fuel for generator to get such which will translate to about 5% of their pay.

2. The scenario above cuts across virtually every other aspect like clothing, gadgets e.t.c. The only things relatively more expensive in the West are accomodation and cost of labour (if you're paying someone to do a job).

The same ratio would apply to fueling vehicles. Even though fuel is more expensive in Nigeria, you'd spend proportionately much more of your income fueling your vehicle than if you were in the west.

Take other examples;

3. Minimum wage in the UK is currently £8.7/hr. Most people earn more. Even if you take away tax (which they'd be paying very little if at all), a person earning that would likely live a more comfortable life than someone earning 100k in Nigeria not to talk of the 30k federal minimum wage and much lower amounts even graduates earn with states or the private sector.

The least one can get a male haircut is £10 (can easily be upto £30). Much more for a female hair do. So anyone doing any regular job, should earn enough to live life to some standard.
In Western countries, it really should be called a minimum living wage and conversely a barely surviving wage in Nigeria. Some people sit at home all day and still earn stipends from the government which are enough to cater for certain things.

More examples...
4.The chap in the UK would from his 1month pay be able to sponsor himself to a regular holiday in any part of the world. The chap in Nigeria would have to save for several months just to get a flight ticket not to talk of visa fees e.t.c
There's a reason why developed countries have the most number of travelers/tourists. Most Nigerians/Africans don't travel for leisure even within Nigeria/Africa because we cannot afford it. A return ticket to nearby Ghana is well over 100k. A return ticket from between UK and France can easily be less than £50 or £100 for most parts of Europe

Same applies to phones, cars vehicles e.t.c.

Most of the used clothes, London phones and used/tokumbo (what we laughably now call brand new) cars we buy in Nigeria are items used by regular people in the West. Ask yourself why our middle class have been reduced to such if Nigeria was cheap.

What percentage of Nigerians would their total one year salary give them a recent tokumbo vehicle talk more of a new one. Someone in the west can get something similar with a few months pay and can even take a long soft loan for it.

Also, living in a developed society comes with some perks... There are always benefits to claim on certain items, you can easily get items and structure paying back over a while, most items bought new (no matter the price) are of relatively good quality because of consumer protection laws and a robust return policy, there'd always be a standard playground around where you can take kids to play for free, driving good vehicles/going on holidays/using recent gadgets all of a sudden would be regular items for you and not luxury. There's also good quality 'free' healthcare in alot of places

Like I said the only time when you may pay relatively higher is in paying for labour or accomodation. Even at that, you still get a better quality.

Accurate! Brilliant!! Beautiful!!!

ahiboilandgas:
Pls my office sec told me she invested 450k in bara/Mba ...at 17 percent per months ....how do Nigeria people reason ....she lost 300k in MMM now this that it been 3 year on ......are Nigerian normal people or just greed driven.....i tire ooh

There are those who know for sure it will fail, but hope to cash out before it does.

NL1960:


No vex. Na mistake.

No it wasnt. You were obviously listing catholic schools in Nigeria. I m impressed actually. I didnt know they were so many.

ultron12345:


My brother, you have spoken well.

Where some see problems, others see opportunity. To some, the infrastructure in Nigeria is a problem, to others, it's an opportunity.

Let me use the Nigerian banking sector as an example. Today, Nigeria's banking sector is well developed, but it was not always so. Back in the 70s and 80s, it was very poor and underdeveloped. At that time, there were two sets of people.

The first set of people are like dextrousone. They were wailing and frowning and insulting the industry, calling the country a shithole for not having a well developed banking industry comparable to other countries.

The second set of people, instead of seeing the underdeveloped banking industry as a problem, saw it as an opportunity to get a strong foothold in the industry. Back then, it was very easy to start a bank due to undevelopment of the sector. Very low regulatory and capital requirements. So they took advantage of this and started bank, some collapsed while some became the banks we see today. Among this second set of people, are the likes of Tony Elumelu and Jim Ovia.

Now that the banking industry is developed, the opportunity in the industry has reduced. Very very few can meet to high and tight capital and regulatory requirements to get into the banking industry today, compared to back in those days when the industry was underdeveloped and therefore with low requirements which provided the opportunity for people like Jim and Tony. If Jim and Tony were today in the same position where they were back in those days before starting their banks, graduates with few years of working experience, of course they wouldn't be able to start UBA and Zenith Bank today. It was the underdevelopment of the industry that gave them their opportunity. Today, all the wailers, including those who used the undeveloped industry as an excuse to move abroad, are nowhere near them.

I am not saying everyone must stay in Nigeria. If you think abroad will favour you better than Nigeria, then leave. Those that believe Nigeria favours them better than abroad, will stay back. The problem I have is that those that want to leave will not allow the rest to hear word, everytime disturbing and insulting those that want to stay. If you wan go, then go in peace and leave us alone. Indians go abroad too and achieve far far more than any Nigerian diaspora can ever achieve, yet you won't hear then making useless noise or insulting their country and those who decided to stay back. As you're leaving, many are coming in, especially the Lebanese and Indians, and I can bet these people that are coming in will be far more productive and beneficial to the nation than you if you stayed. Where I leave, there's a large number of Lebanese-Nigerians who've been here for generations. Others came quite recently. I see the huge celebrations they throw when they get their Nigerian passports. So as you're celebrating your Permanent Residency or passport abroad, there are also those who are celebrating getting our own down here. So as you're going, we are working towards building our own back here. Our own that we can call our own, not another person's own where I will have to be continuously chanting black lives matter, racism and I can't breathe.

So as Abroad is your paradise, Nigeria is also paradise for others. Go to your paradise and let others enjoy their paradise in peace.

Also, anti-immigrant sentiment is springing up across the developed world. Trump is only the first. Go and look at others like Matteo Salvini in Italy. That one is willing to sink any ship carrying african migrants across the Mediterranean. I hope if or when the real owners of those countries you're running to, decide to kick you out, you will not start shouting "Black Lives Matter"and racism and "I can't breathe", because they have a right chase away unwanted visitors. They also have a right to treat you as they wish, including gunning you down for no just reason. If you don't like it, they'll tell you, shut up or go back to your country.

Funny how they call and cheer and love it when Trump calls their country or continent a shithole but get angry and start calling him racist when he treats them and their kind as nothing more than "shit from a shithole"

This is what we're talking about!

Beautiful!!

Whooa black don suffer.......trump debate .....Black where called super predators by joe in the 90........we need to build our country.......

...

missjekyll:


No it wasnt. You were obviously listing catholic schools in Nigeria. I m impressed actually. I didnt know they were so many.

You are quite right. I only focused on the catholic schools as i did an extensive research and study on them when my kids were preparing for secondary school because i wanted them to attend catholic boarding schools. The schools are quite many. I have not even scratched the surface. The first thing a newly created catholic diocese does is to establish schools and health institutions.

ahiboilandgas:
Whooa black don suffer.......trump debate .....Black where called super predators by joe in the 90........we need to build our country.......

But Oga, them no lie na...

The recently concluded Big Brother Naija Lockdown edition recorded more than 900 million votes, the show’s organiser has said, Igbere TV reports.

MultiChoice Nigeria CEO John Ugbe stated this on Wednesday at the prize presentation ceremony.

According to Ugbe, this season of Big Brother broke records and made history.

@30 naira/ sms, that is like 27 billion.
Hmmm

ahiboilandgas:
The recently concluded Big Brother Naija Lockdown edition recorded more than 900 million votes, the show’s organiser has said, Igbere TV reports.

MultiChoice Nigeria CEO John Ugbe stated this on Wednesday at the prize presentation ceremony.

According to Ugbe, this season of Big Brother broke records and made history.

Lots of those votes were free votes and also attached to DStv subscription

ojesymsym:
@30 naira/ sms, that is like 27 billion.
Hmmm

ojesymsym:
@30 naira/ sms, that is like 27 billion.
Hmmm

wonderful .........we deserve buhari as our presido.

How can we be a part of the value chain in the next and subsequent editions and makes some of these bucks, as a capitalist, you go with the thrends, there is no need to quarrel with the youths and those who see it as a way for their past time.

Where can one fit into the value chain even as an outsider, that is what I want to know.

ahiboilandgas:
wonderful .........we deserve buhari as our presido.

ojesymsym:
How can we be a part of the value chain in the next and subsequent editions and makes some of these bucks, as a capitalist, you go with the thrends, there is no need to quarrel with the youths and those who see it as a way for their past time.

Where can one fit into the value chain even as an outsider, that is what I want to know.

found your own reality show and take risk....

Sign petition against killing in Nigeria yet to reach 20k after 6 weeks .....bbn 900m votes ....

Yeah, where do we fit in

ojesymsym:
How can we be a part of the value chain in the next and subsequent editions and makes some of these bucks, as a capitalist, you go with the thrends, there is no need to quarrel with the youths and those who see it as a way for their past time.

Where can one fit into the value chain even as an outsider, that is what I want to know.

Not really, your suggestions is like telling me to open a similar site like nairaland or Facebook, it is hard to dismiss a strong competitor like BBN, with all their already existing resources and structure.
I am trying to think like an American on how to plug myself in somewhere to the already existing BBN structure.

Right now, banks I believe earn some parts of the money, sms resellers earn some, etc... there has to be place to plug in somewhere.

ahiboilandgas:
found your own reality show and take risk....

NL1960:


You are quite right. I only focused on the catholic schools as i did an extensive research and study on them when my kids were preparing for secondary school because i wanted them to attend catholic boarding schools. The schools are quite many. I have not even scratched the surface. The first thing a newly created catholic diocese does is to establish schools and health institutions.

I went to a catholic school from nursery school to SS3. I credit my special Science School for the reading culture which has been my go-to till today.

ahiboilandgas:
Whooa black don suffer.......trump debate .....Black where called super predators by joe in the 90........we need to build our country.......

Joe then went ahead to serve under the first black president. Till today,Barack tells everyone who will listen what an amazing guy Joe is.

Donald Trump, on the other hand,hates me . Does not want me in his country and has called my Nigeria a toilet. When we say shithole, we downplay the magnitude of what he said. He called Nigeria a toilet. He also doesnt think Black lives matter.

missjekyll:


Joe then went ahead to serve under the first black president. Till today,Barack tells everyone who will listen what an amazing guy Joe is.

Donald Trump, on the other hand,hates me . Does not want me in his country and has called my Nigeria a toilet. When we say shithole, we downplay the magnitude of what he said. He called Nigeria a toilet. He also doesnt think Black lives matter.

e no corncern me .......i was just wondering how they view africans /black ......joe or trump non of my business mine is Nigeria ..

ojesymsym:
Not really, your suggestions is like telling me to open a similar site like nairaland or Facebook, it is hard to dismiss a strong competitor like BBN, with all their already existing resources and structure.
I am trying to think like an American on how to plug myself in somewhere to the already existing BBN structure.

Right now, banks I believe earn some parts of the money, sms resellers earn some, etc... there has to be place to plug in somewhere.

Start by tearing the show to shreds by saying that it is called Big Brother Nigeria but they have both males and females and that the name is a discrimination against women. After trending with that, you then start 'Real Big Brother(RBB)' with only males and also Big Sister Nigeria(BSN) with only females or Big Brother and Sister Nigeria(BBSN).

missjekyll:


I went to a catholic school from nursery school to SS3. I credit my special Science School for the reading culture which has been my go-to till today.

Lucky you. There is one Special Science School in Anambra that i check their website from time to time. It is called Loretto Special Science School Adazi. Is that the one you went to?.

Which TV station I wan use? BBN is ridding on Multichoice, where I wan start my own? NTA?
lol

NL1960:


Start by tearing the show to shreds by saying that it is called Big Brother Nigeria but they have both males and females and that the name is a discrimination against women. After trending with that, you then start 'Real Big Brother(RBB)' with only males and also Big Sister Nigeria(BSN) with only females or Big Brother and Sister Nigeria(BBSN).

There was one piece credited to Trump, even though I do not really think he wrote it. In that article, the writer said the only thing AFricans think about is sex. That when it comes to critical thinking, Africans are incapable of that kind of thinking.

That the very brilliant ones are the ones who are able to follow instructions meticulously but they shouldn't be entrusted with really mentally tasking task that requires creativity. The article was popular on nairaland then, what worried me then was that someone was voicing out what many of them really think of us.

ahiboilandgas:
e no corncern me .......i was just wondering how they view africans /black ......joe or trump non of my business mine is Nigeria ..

ojesymsym:
Which TV station I wan use? BBN is ridding on Multichoice, where I wan start my own? NTA?
lol

StarTimes or TSTV.

Okay, at least I now know one of my enemies.

NL1960:


StarTimes or TSTV.

NL1960:


Start by tearing the show to shreds by saying that it is called Big Brother Nigeria but they have both males and females and that the name is a discrimination against women. After trending with that, you then start 'Real Big Brother(RBB)' with only males and also Big Sister Nigeria(BSN) with only females or Big Brother and Sister Nigeria(BBSN).

to be shown on Star time .......BSn channel

NL1960:


Lucky you. There is one Special Science School in Anambra that i check their website from time to time. It is called Loretto Special Science School Adazi. Is that the one you went to?.

Yes!! They do a "loretto Waec " in SS2. this is a waec exam set by the school. Students who fail are asked to repeat. Needless to say, 9 A1 is a common occurrence there. this was all 15 years ago. I hope they have maintained the standard. the teachers were not fantastic. In fact my Maths teacher was terrible BUT because I wanted to pass,I studied very hard on my own. Studying on my own led me to smash Jamb and the rest is history.

https://www.nairaland.com/6152388/court-stops-police-arresting-gbagi


What do we have to say about this Buffonery?


@Nigrsdumb
This is the country you wanna save?


Hahahahahahaha

What's the current rate for tb