₦airaland Forum

Emmaesty:
But what if ur expected loss is 5k and u lose 10k?

Let me explain:

If your car is insured for 4000,000 (cost of ur car) and the chances of it getting stolen in any given year are 1 in 1,000, then the annual expected loss on your car is 4000. The annual premium for the theft portion of the coverage needs to be more than 4000 for the insurance firm to make profit.

The trick is in them calculating chances of loss accurately, which they do or they would be out of business very quickly. It is the same math used by casinos, bet9ja, nairabet. The odds are computed to be in their favour always.

olujaidi:
Really?! He should throw money away because he can absorb loss? If he didn't have insurance would he still be in business? NO
Nna na wa o!

Insurance makes sure its not a total loss for him. He always gets something back even if its not the full sum assured. He might even get the full sum assured if he paid for excess buyback. Instead of digging deep from his own funds (which could have been deployed to other productive uses) to replace the destroyed asset and then suffer the opportunity cost, he gets paid by the insurance company for it.

He actually gains on two ends: he gets money to defray the cost of replacement and his own funds are preserved for other uses.

ahiboilandgas:
I pay premiums regularly,G.i.t and comprehensive my boss told me am paying for my happiness ...and it true insurance firms have rescues me 2 time ...total loss 19m insurance also 17m

The insurance company is not father chrismas, they are there to make profit. Do you know what they do ?

They estimate the chances and rate of an accident occurring, they calculate expected loss PA for each customer category and bill you higher.

For example if ur expected loss per month is 5k they will bill you 6k. Effectively they are recovering what ever they paid you plus profit over time. In short, you pay more over a longer period.

If you can absorb shock it is always better not to insure.

By d way, if you keep having accidents they will revise ur premium upwards why is that?

ahiboilandgas:
smart investor

You know that someone like you should not be wasting money on insurance. Insurance is for those who a loss would be unacceptably damaging. Paying for insurance is a bad bet when you have enough money to absorb shock. Just saying.

Dramahive:
Thanks, i was busting crying over my constant loosing, which was why I come enter this guy hand in the first place, if only I knew that he would make my predicament worse. Can you recommend any tipsters that are good on nairaland here please.

You can follow my tips, but their are some prerequisite , more like things you have to know first. I use WOC.

I wonder why people are not killing it in this bizzy despite Nigeria being very corrupt. Don't you guys know about insider trading .

Legacies is back

99 Luftballons by Nina

I love dis song, originally in German. It also featured in the show 12 Monkeys. Great show, awesome song, thumbs up!

Moneyboyz:
The Boys' Homelander Vs. Preacher's Saint Of Killers

Sometimes you have to fight Evil with another kind of Evil

Who will win?

I can't say much about Saint of Killers, but i don't think Homeland is evil, he is just some guy who had a bad childhood and as such views self as a different species, a higher species who can do pretty much whatever he wants.

realestniggah:
Did you create this app yourself.. Because the way you advertise his app here eh

Trust me, if I could make an app like this one it wouldn't be free. Whatever, the point here is that it works and its free.

needful:
I also bought a land in town of MCC road owerri for 10million and did other expenses on it to secure it properly well. Everything I spent on it is $12m. Is for sale now. And what i have gotten so far as offers is $13.5m. I bought this land in 2016 when TB and Bond were 16 to 19% respectively. If I had invested this money then in TB or Bond with compounding, as at today , i should be seeing above $18m. Am regretting it till today. So am going to sell it immediately at 13.5m and do something better with the capital.

I never knew there are landed properties worth millions of dollars in Owerri, I learn every day o.

By the way, if I had 12 million USDs, i would simply invest it in the USA in a robust S&P 500 index fund at annual return of 7%, and live happily for the rest of my days.

Ayotemide:
The first step to knowing there is a problem is saying it; your opinion in the first paragraph leaves much to be desired to your state of mind.

Na me you dey speak plenty grammar for? Instead of you to say thank you, nawao, a guy is hitting on you and you are there typing grammar.

AwkaetitiBabe:
How many times have we Read "Woman Sleeps with Son"?

Abeg men should learn to control themselves for heaven sakes... Mtcheeew.

Listen to your self, If the a woman carry bele for him son will the woman gree say na him son give am ?

ImaIma1:
I hope this is sarcasm

You are so hot, I would still hold naughty ideas of you and me doing things, even if you were my daughter.

Those guys alternating that man are they the police? Is the girl their daughter? Nigerians to like lawlessness.

Charleys:
What would you have expected him to do?

No woman wants him anymore and the daughter looks like his wife.

He's just a lonely man that needs to be forgiven.

You forget say he get some women way him better pass, if him seek him level him for they straff tire.

ADM, Advanced Download Manager, comes with a powerful feature; Scheduler, gives you the ability to set start and stop times for your downloads.

Do you sub night plans or have a cheaper night billing, you can use the scheduler to plan your downloads and still catch up on a good night rest. It's on the play store and it's free.

Just wanted to share, some of you may have known about this already

ahiboilandgas:
sure ,u are better off runing a bussiness govt is giving u 500 naira daily for your 2m ....one plate of food (500)...a 700k Keke can roll in 5 k daily while a 700k business center near a university can rake in 4k daily

Sir, it would be helpful as well to point out the risks along with the smooth ideas. A Keke and business center will definitely return more at a higher risk, you can lose your capital if not done right. You would also need to invest time. On the other hand, Tbills comes with negligible risk and require close to zero time investment.

It is something you always fail to mention, the more the risk exposure the higher the profit margin. You can make double your capital and more, oh yeah, I have seen it. Question is how rugged is your risk appetite? Do you have the time and strength to follow up?

Onyi22:
From my inbox
pls how can I tell my boyfriend that he has mouth odour without hurting him?
I love him so much n I don't want him to have any low inferiority complex after telling him...
Any solution for mouth odour?

@Onyi22, assuming it is not tooth decay nor coming from the stomach, these cases require medical attention, then it is most likely coming from between teeth and gums or back of the tongue. What he needs is a tongue cleaner/scrapper, dental floss and mouth wash. For some people brushing is not enough. There is no biggy there, alot of people in nija have mouth ordor of varying intensity.

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All these modern designs are not needed because we lack the ability to maintain our buildings, this ones will look horrible in the next 3 years. Plain design is better, even with poor maintenance it won't look as bad as these ones after a few years of neglect. No be nija we dey?

Bamz:
ositadima1

We're currently experiencing dynamic support for btc oh. I waited to get in at 10900 to no avail. I hope it can retrace to 11k atleast. There's been a sort of range contraction if you ask me, as volatility isn't as I want it.

Let the bull szn continue.

One thing is certain, it is heading upwards. Since I am not very sure about its liquidity and to keep risk low I have adopted a simple strategy, I buy constant amounts every month, my target is to hold one bitcoin long term. My regret is that I should have started earlier.

By the way it is at $12,600.

yemioke:
Please i need gurus to help me with this situation.

Something is definitely wrong, let's assume 10% interest for 1.2 m, you get 1.2 x 0.1 = 120k per year. For 182 days you have 120 x 182 / 365 = 59.8k. You are supposed to get around 59.8k . You have to go back to your bank and demand for clarification.

Another thing, be super careful while filling the form they give you, any mistake will affect your tbills terms.

All who make it to this thread already know the contents of this Ad, written in the 60's. I guess.

Bamz:
This is a bit of a distraction, but I reckon that the interest from t-bills can be further invested in cryptos.

I was reading an article from Cointelegraph that the currency has been profitable for 98.2% of the days since creation. According to the report, "That leaves 69 unprofitable days — which include virtually all days during December 2017, at the apex of bitcoin’s historic bull run to $20,000 — as well as almost all of January 2018."

Since we're all short to mid-term investors, this can give us a bit of perspective:

52 Week High / Low $13,796.49 USD / $3,191.30 USD ( over 400%)

90 Day High / Low $13,796.49 USD / $4,836.79 USD (over 280%)

30 Day High / Low $13,796.49 USD / $7,564.49 USD (over 80%)

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A logic one can adopt is to ride the waves not minding where the water takes you. If you do Dollar Cost Averaging and buy say $100 at every thousand dollars to Bitcoin rate, I think that makes a lot of sense in the long term.

E.g if you start when bitcoin is at $10k, you buy $100, and even if it drops to $9k (better for you), you still accumulate at fixed amounts of $100 at $8k, $7k etc until it gets to a plateau. When it starts to retrace, depending on your financial goals, you either wait for it to get to $11k and liquidate all the previous investments or if you're a long term investor, keep buying at those milestones, and liquidate at an all-time high (ATH) price which will be over $20k. The only thing is that no one knows when the ATH price will occur.

I wonder why I've been saving in Naira.

This is so true, my doubt is liquidity, how easily can i offload my coins. Yesterday morning, bitcoin dropped just below 10,000 usd and as at this morning it is around 11,490 usd, a 14% gain in a day. Imagine if I had entered the market at its low and exited today with a seed money of 2 million naira, I would have made 240 k profit.

Again, if I can assure my self of its liquidity I might start trading it. Even if it crashes, no problem, the worst case that can possibly happen is having my money tied down for a while, it always bounces back given time.

Cryptocurrency is here to stay, I even read some where it will eventually be worth 100,000 usd a coin in a couple of years as there are only a limited number of bitcoins ever.

PearlStreet:
Donate your advice to your broke, gambling boyfriend.

In your mind you think you made sense, a typical example of dunning–kruger effect, "a cognitive bias in which people mistakenly assess their cognitive ability as greater than it is. It is related to the cognitive bias of illusory superiority and comes from the inability of people to recognize their lack of ability".

Cary on brother !

Chipink:

See this one, puna is still affordable, while would someone in his right mind pursue a faceless girl like you? What do you even have to offer self, some tits and puna? What else ?

With this heavy body, this one na thief Eliza.

chigo4u:
Interesting figures, US is really something else with the money. UK is overrated to me lol

Nigeria at 20 just behind SA, that's impressive. Most of North Africa was not covered, I wonder why.

Interesting site with lots of infographics

https://howmuch.net/

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ahiboilandgas:
This how the mind of an investor work ,dangote head office is a rented building cos alhaji can't comprehend why he should buy the unions building for 10 bn while he can use same to build a spaghetti factory that can generate money to rent the building ,pay salary and profit

You seem to like to talk about your success, most of your narratives are geared towards the rich, people who already have millions. I would like to know how you started out if you don't mind. I believe this would be more helpful to a lot more people than posting truck selfies.

So, were you a salary earner who saved every single until you had enough to buy your first truck? Or, did you inherit your seed money? Did you win the mtn who wants to be a millionaire, back then? How would an averag Joe come up in a record time given you are only in your mid 30's and a successful owner of businesses ?

bendo75:
Thank you. In the past some of us have gently reminded these folks not to reveal their financial status here because 1. they open themselves up to attacks from criminals who are all over social media profiling and we don’t want that 2. it is immaterial to the discussion here and very toxic as folks start fighting over who is richer 3. As a behavioral therapist , I would say it’s a sign of interior emptiness and poverty of mind.

In 2012, Feelamong started this thread and I have never seen him and many other mature minds in this sub reveal or fight over how much they have.

You see what irritates me is that when noobs come here to learn, to ask questions about NTB like I did many years ago, we tell them go read the 1st 10 pages yet we waste time bragging about our net worth. How does that help those noobs coming here to learn about NTB.

The event of Mt.Gox Hack in 2014 or others are there to teach us never to reveal our financial information on social media. If you have lots of money in your bank accounts, don’t tell the public, get yourself a token(soft or hard) for large withdrawals. And if you have lots of BTC and alts, don’t tell the public, buy a hard wallet like Ledger NanoS and store all your coins on it. Don’t leave a lot of your coins on exchanges.

I hope I have not offended anyone here but if I have, I apologize. Let’s get back to the spirit of Feelamong, the founding father of this great family. Peace

These were the points I was alluding to, twice. Too bad people don't read between the lines these days.