₦airaland Forum

Jejebabaa:
You will soon learn sir by direct experience and you will figure out, those Oyinbos strategies of dollar cost averaging na hoax in Naija. I have been there before and I know better now except I have world Bank vault in my house to keep buying the dip.

I don't want to know what I will meet here. I came from the crypto world (still there) and I survived. Gone through the NSE history, I do not mean it as an insult to those who lost money, but trust me, this place is heaven compared to the crypto world.

I am not the financially emotional type, that is why I invest in very minute amounts, or set my trades that way. To me it's an art, a science of me studying my character knowing myself. It works for me, so I don't care what the NSE is or what they have done, this place is heaven.

I mean you can't even short stocks in the NSE (meaning the infrastructure is based on hope/optimism). I repeat this place is heaven.

Mpeace:
Like Fidelity. #runsaway

Hahahahaha.

Mpeace:
Pple that go in and out at every shake will always lose to commissions. The worse part is that they don't realise it on time. 3% every now and then no be joke.

It's actually almost 4%. I was not sad because I used the money to test the waters, I was even surprised I didn't use more than that.

Warren Buffet has said it, that fees can be a gain killer. That's why since then, if I buy a stock, I buy it with no intention to sell, I always buy companies I would be happy to buy more if they drop in price. This is key, I have always been preaching about good companies and buying in small amounts instead of large buying due to emotions.

Mcy56:
Which ARM Securities? Their charges is on the high side.


You are right.

Lol. I was right then. There is no way, there will be cheaper commission fees elsewhere and people will not flock there.

DeRuggedProf:
Depends.
If you are going to be given a board position, proceed....
Else, view it this way, if you are hungry and you need to eat, do you buy cooked beans or poisoned bean seeds meant for planting...
You are right either way. Each of them, at the right time MAY end up on your dining table.

PERSONALLY: I NEVER do IPOs. The psychological scars I got in 2006 are indelible...

Lol. Perfect advice.

koma1:
Hello guys
Is it advisable to invest in skyway Aviation Handling Company plc (SAHCO) INITIAL PUBLIC OFFERING of 406,074,000 Ordinary shares of 50 kobo each at N4.65 per share.

If you don't have access to their books for you to get their intrinsic value, and you need other people's opinion for that, you are in the wrong place sir.

Mpeace:
This guy. U no want pay school fees yet u want learn. Ok na, make we see wetin u go learn while sitting on the fence.

Coming to the NSE I played around for a while and I budgeted 10K that I will lose, just to see how efficient the market is and test some other things. By the time I was done, I lost a total of 5.7K in small dips and commission fees. I am glad about that small school fees though, it made me test the waters well, though I made tiny gains, commission fees canceled it out.

DeRuggedProf:
How I wish the human system was designed with a physical button to switch off emotions....

Lol. We need them emotions, but when it comes to finances, you have to learn to switch it off.

Godlylifeoneart:
Investment boss in tearful video apology over losses
21 November 2018 Business
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James Cordier apologised to his investors
Video caption James Cordier apologised to his investors
The boss of a Florida-based financial firm has made a tearful video apology to clients after bad bets on oil and natural gas prices wiped out their investments.

James Cordier blamed a recent bout of market volatility for the losses, which are set to destroy his firm.

"I truly invested your funds like you were family," he said in the 10-minute video posted on YouTube .

"I'm sorry that this rogue wave capsized our boat."

Natural gas prices enjoyed their biggest one-day percentage gain in eight years on Wednesday last week, only to suffered their largest one-day loss in 15 years the very next day.

Meanwhile, oil prices have also fallen sharply.

Mr Cordier is president of OptionSellers.com, based in Tampa, and co-wrote a book called The Complete Guide to Option Selling.

The company managed money for wealthy investors and specialised in options, which give investors the right to buy or sell at a pre-determined price.

OptionSellers said the losses were its "clients' private business. We are in communication with them."

It was not clear how much money the firm managed or the size of the losses. Mr Cordier said in his video that he had 290 clients.

However, the losses could total more than $150m, according to Ohio lawyer Jason Albin, who has been in contact with about 80 clients.

Mr Albin said he thought the trades, which in some cases involved retirement accounts, should not have been permitted because of the risk involved.

He is looking at taking legal action against INTL FCStone, the brokerage that cleared the bets on behalf of Mr Cordier's company.

INTL FCStone declined to comment on the claims.

The firm said accounts managed by Optionsellers.com were liquidated after "unprecedented volatility" in the oil and gas markets last week.

"Although well collateralized, accounts managed by a commodities trading advisor, Optionsellers.com, had to be liquidated as a result of these moves," the company said.

"Liquidation of these accounts was in accordance with our customer agreements and our obligations under market regulation and standards."

This is why I hate leverage margin trading and the derivatives market. Just buy stocks of good companies currently undervalued and hold! Lol! No need to do all this useless margin trades they are very dangerous.

Raider76:
The high charges make high frequency trading unprofitable. The highest charge is the broker commission charge which is supposed to be variable but set not to exceed 1.35%. The other charges such as for NSE are fixed and common to all brokers. The only way one can save is to find a broker whose commission charges are significantly lower than 1.35% before negotiation. That's what I am looking for.

Oh! Interesting. Fees are one of the things that create losses though, especially over time. If you buy and sell, you have lost almost 4%. That's crazy. Over time this money becomes significant.

Wow. Interesting. No wonder... hahahahahaha.

You asked me a question the first time, I tried to reply you and got banned for the first and second time.

Raider76:
Hello @all. Long time. Please which brokers providing online trading offer commission charges lower than 1.3% per trade besides Morgan? Thanks.

Lower than 1.3? Lol. More like 1.725% + 4 naira to buy. 2.025% + 4 naira to sell. You are not only paying for commission though. They all have the same rates, you are not buying those stocks from Morgan or Merristem or Stanbic or United capital etc, you are buying it directly from NSE through their platform, which I suspect the charges are regulated. I don't think the rates differ or else people will be using the cheapest broker and not touch the rest, 0.1% sometimes can become a lot of money for some people.

will007:
Thank you for your swift response.

Can I set up an account with stanbic by using their application. Because, at the moment,I have no access to banks due to my current location.

I don't think so, but you can send them an email I believe you can fill the forms and send it back to them to open your account.

coolangel54:
I AM FEELING PISSED RIGHT NOW. I OPENED AN MMF ACCOUNT WITH AXA MANSARD LAST WEEK THURSDAY AND FUNDED THE ACCOUNT ON FRIDAY LAST WEEK VIA WEB PAYMENT. MY ACCOUNT WAS DEBITED, AND AXA SENT A CONFIRMATION MAIL TO ME. HOWEVER, AS I SPEAK WITH YOU NOW MY AXA MMF ACCOUNT IS READING ZERO (0) NAIRA. I HAVE CHATTED WITH CUSTOMER CARE ALL TO NO AVAIL. What exactly is going on is what I don't know o. My account has remained dormant since with nothing in my account statement section. Nothing anywhere!

Keep disturbing them, hopefully your case will be handled.

will007:
@Gonfreecss1, am a newbie trying to venture into MMF. Can you please share an insight/advice that a newbie can take before entering. And what do you think is the best investment house to invest in. Is it stanbic or arm or any other bank?

All this houses are the same, they all have problems and none are perfect.

I will recommend Stanbic. From their historical rates and some other factors.

You can also check out FBN, Axa Mansard, Arm or United Capital. But my recommendation for now is still Stanbic.

veneza:
every one has spoken well,I just felt I could be investing 100k on a monthly bases on tbill for a long period of time.I don't kmow if it will yield better unlike when you invest a million at once.

Also I would like to know the effect of coming election on Tbills.

I feel Money market fund will be better for what you are trying to do.

Lol! Why you should not invest in Nigeria. Hahahahahahahahahahahahahaha

All this yeye articles and topics sha.

ernie4life:
I use them, so far so good there Services are good, the keep looking for ways to use fintech to improve there service delivery, I have never tried comparing rates, reason been I believe all asset houses offer the same rate on the average, the way to verify this is to ask each house for there quarterly fact sheet, add the rates the quote for the three months and divide by 3 to get the rate for the quarter, the variance among is not much. It is better to base your comparison on there fact sheet because some of the rates you see online are still subject to adjustment. You may ask why, running a valuation on the performance of this funds can be very tasking, so it would be good to cut them some slack.

If you keep moving your funds from one house to another because of a temporary difference of 0.5% you maybe loosing on the long run

Rightly said. I couldn't have said that better. From my findings they are almost all the same over a period of time.

Also, does anyone here use Investment One? I have seen the talks on investment one has been sparingly short. The reason I am asking is my other findings...

My question is if anyone uses their services here? can you tell us what you think about them?

texas1:
Please share your findings. Thank you.

So I did call their customer care, and found out that it's not all part of the interest that they actually reinvest. Remember how we all agree that's one of the advantages for Stanbic? well imagine my surprise when there was now talk about maturity of said interest and the probability that not all your funds might have been used to buy Tbills in the primary market, meaning some part of your principal is not working, hence the lower rates compared to the daily given rates? (i.e only 95% of your principal invested?), this leaves me with so many more questions and the fact that we are at their mercy.

My conclusion is this, most of this investment houses if not all are not transparent with the fees and rates advertised. There is still much more we as customers need to know, as far as arguing which one is better, I am beginning to feel that is the wrong argument. We should be asking which firm is the most transparent..., unfortunately I have another theory that states that the moment a lot of people flock to what we assume is the most transparent of all, after a while there will be discrepancies once again.

For instance, I studied the money market fund for United Capital over the years, currently they have the highest rate of 12.52% net of fees, but did you know there were times and days when other funds had over 10% rates, united capital in question had rates as low as 5%! can you believe that? money market rate! I didn't believe the discrepancies myself, and checked other firms some had a return rate of 0%! nothing! while others had good rates, there was a time FBN and others had a money market rate of 6-7%, and Stanbic surprisingly had 9%, unbelievable! to even make matters more confusing, sometimes during this period, United Capital had an almost constant 11-13% money market rate. And FBN had one of the highest rates ever of 20%, while Stanbic had the most consistent higher rates over time, followed by FBN money market rate. At first I thought it was FBN, but I decided to go back and check the STanbic rates, I was shocked. This and some other things are what I saw, I can't draw up a final conclusion for now though.

veneza:
secondary market rate with hope of like how much interest, am a newbie though but learnt about it lately.

To be honest, I don't know. Till you talk to the banks in question.

veneza:
Is it still possible for one to invest 100k in tbill as at now.

You should. Walk into a good bank and make inquiries, though it will probably be a secondary market rate.

Mpeace:
US dollar falling as well. Not good at all.

Hahahahahaha. Could this be the beginning?

Mpeace:
lol. No pray for that kind of bonanza oh. It will wipe everything including that money in the bank. This one might take us to 2022 before we see recovery. Better don't pray for it.

Lol. As an investor this is what you should be praying for.

emmy4lov:
What are their rates like?

United Capital's last interest rating was 12.52%, FBN quest 12.48%

billtommy:
Based on the realities of what is happening in the present, the future can be predicted. He only stated an opinion, not a fact....if you have a conflicting opinion on the subject matter, pls state it and let's all learn from you.

He is basically saying Oil prices will forever be good and Nigeria will keep making money from it. He is also saying Nigeria using the forex earned from this crude oil to buy naira to keep prices normal is sustainable. Since when did we have so much faith in the Nigerian government's interest in the people? Lol, how many of us here have insurance or trust insurance companies? Integrity is hard in Nigeria. Since when did we believe the Nigerian government are good financial risk managers? Go and look at the history of our declining buying power rate of the naira to understand. Even with all this, I still buy Treasury bills directly or indirectly, and I never said people shouldn't, my question now becomes what are we doing here if not to say the truth or advice other people about some things? Should I bask in mediocrity and pretense and keep doling out the fairy tale without saying the truth all because I don't want to make people uncomfortable? Thinking about it now, I can say this is one of the problems we have in the country.

If you all think inflation rate is actually 11-12%, you are not understanding yet. I have consistently beat both the NSE, and the actual inflation rates (which I believe is 25%+) for some time now, and my buying power keeps on improving.

I do not intend to scare the newbies, Treasury bills are good, they are safe. They are rated Triple A (AAA), this is a very good rating. A rating I don't take lightly, but then I am not one that minces words and I apologize for that, but if you want to preserve your buying power the real bitter painful truth is this, Treasury Bills alone won't do that for you.

RealityShot:
from your previous post, you don't seem to realize the power of crude oil exports and the dollar earnings from it.

When you do, you will know why Nigerian treasury-bills is such a solid investment.

Hmm.. In short... When you buy treasury bills,
You are loaning government money and expecting to get
A cut from their total earnings.

So as long as Nigeria sells sweet crude she must pay up!

Otherwise, when next she needs money BEFORE her crude sales checks clear,
She will be begging us with higher rates!

Higher rates don't mean bad for us, it means the government needs money fast!


Understand the business you are doing and sleep like a baby.

Think of Tbills like building a house that is foldable and movable every year or less.

You are assuming a whole lot, from thinking I don't understand Treasury Bills to crude oil exports. Lol!

Lol. Who said anything about the government not being able to pay back? I have never said that. I don't care about my returns in naira if my buying power keeps reducing. I have only preached one thing here and that is buying power!

So many of us place too much faith in Government and Banks, this is good short term, but history will always tell the truth about how there is nothing too big to fail. From banks, to government.

I really want to say more, but because of the complication in mentioning a particular word, I will leave this matter for now.

RealityShot:
then explain why our banks (only the top 5)
Put in over 267 billion naira in treasury bills last year?

Please explain what an investment means to you?

Lol! So because all banks put money in something makes them smart? Or makes them know what they are doing? Hahahahahahahahahahahaha

Go and ask about what happened in the US in the last global financial crisis. After you do that, I will advise everyone in the house including you, to watch the movies "The Big Short" and "Margin Call", you will gain a very important lesson from it.

RealityShot:
it will remain stable : Buhari needs it to stay that way or his toast!

By the way, crude prices are looking OK for now so our dollar income is way above budget.. CBN can keep up with the defense.

Definitely too much hope. Optimism is good but basing investment strategy on optimism is not a good way to go.

RealityShot:
it will remain stable : Buhari needs it to stay that way or his toast!

By the way, crude prices are looking OK for now so our dollar income is way above budget.. CBN can keep up with the defense.

Either you know something others don't, or you are part of those who rely heavily on hopium. Oil prices will never always be good, buying up naira consistently is not sustainable.

So I saw everyone arguing about the Money market funds the best firm with the best rates, people mention Stanbic, some Arm, some Axa mansard... you are all wrong!

The firm with the best money market rate out there consistently is FBN Quest!

And they have one of the cheapest, if not the cheapest management fees.

The current firm with the best money market rate now is United Capital, followed by FBN quest I think.

I had to modify this, the investment house with the best and consistent money market rate is actually Stanbic IBTC, theirs have been consistently high, but the reason I think FBN quest is better are the fees, Stanbic charges more and this will affect your overall return.

SamReinvented:
Thank you! I'm aware of these stats, thats why i got interested. I'm more particular about a sample of a real yield from a real Investment in the fund. I'd like to compare with the mmf.

I think some people here might be able to help with that...