chigo4u:
Does anyone know about Novambi Asset Management. Are the legit?

They are licensed, that's all i know.

Wapgod:

They are licensed, that's all i know.

Licensed by who please. Their dollar fund is impressive.
Emmanuelewumi?

Done my research.

First bank offering 4 percent at 180 days.
4.25 at 270 days and 4.6 what 365 days.

However I could earn more on my principal by using piggyvest.

But I want to ask here if you guys would do same or would you rather leave your funds in a traditional
Bank like first bank. We are discussing safety of the funds while pursuing best returns.


What would you do? Use piggyvest and earn more interest but worry about safety of the funds or use first bank and manage the modest rates

Hi house,
Traditionally and based on experience, which bank between First bank and Stanbic IBTC offer better rates in TB?

chigo4u:
Does anyone know about Novambi Asset Management. Are the legit?

Yes they are.

This might interest you.

https://nairametrics.com/2022/06/03/best-performing-mutual-funds-in-nigeria-for-last-week-of-may-2022-by-roi/

https://sec.gov.ng/cmos/

Good morning fams, please I went to wema bank to purchase treasury bills and to my surprise I was told federal government has stopped selling of treasury bills to individuals but only to corporate and I need to invest nothing less than 50Million which is far lesser than my budget. Please, which bank is the best that still sells either in primary and secondary market

simplibaba:
Good morning fams, please I went to wema bank to purchase treasury bills and to my surprise I was told federal government has stopped selling of treasury bills to individuals but only to corporate and I need to invest nothing less than 50Million which is far lesser than my budget. Please, which bank is the best that still sells either in primary and secondary market

This is not true.
Try Firstbank.

Wapgod:

This is not true.
Try Firstbank.

Thanks boss.

I will visit Firstbank on Tuesday…..

collinsobinna:
Done my research.

First bank offering 4 percent at 180 days.
4.25 at 270 days and 4.6 what 365 days.

However I could earn more on my principal by using piggyvest.

But I want to ask here if you guys would do same or would you rather leave your funds in a traditional
Bank like first bank. We are discussing safety of the funds while pursuing best returns.


What would you do? Use piggyvest and earn more interest but worry about safety of the funds or use first bank and manage the modest rates

If you are looking for investment with guaranteed capital and interest mmf or VGIF will be good. No WHT on the interest and u can top up anytime with any amount

emmasoft:


If you are looking for investment with guaranteed capital and interest mmf or VGIF will be good. No WHT on the interest and u can top up anytime with any amount

What's the VGIF rates now?

Am I seeing double? Bitcoin currently at $25.7k? Kai... Na wa ooo

skydiver01:
Am I seeing double? Bitcoin currently at $25.7k? Kai... Na wa ooo

You are not seeing double. Continue to DCA till it gets to 5K and thanks me later.

skydiver01:
Am I seeing double? Bitcoin currently at $25.7k? Kai... Na wa ooo

Why are you surprised?

Last year bitcoin fell by over 50% from its highest point to $29.7k (maximum drawdown as it recovered quite a beat), why dat happened I am not sure, wasn't closely following the news.

With this years multiple issues - war in Ukraine, high inflation rates, increasing interest rates, high crude price etc - it is no brainer that bitcoin will be impacted.

We can reasonably project a 50% drop at some point this year as well (probably more). That should see bitcoin at $22.4k. That's where I would start buying in trenches.

Mind you, like I said before on this thread crypto shouldn't be more than 15% of ur total assets.

ositadima1:


I hope u read my initial post. Investing in bitcoin is ok, but the bulk of ur money shouldn't be in it(most gurus advice 5 to 15% of ur assets). I was responding to @jedisco who was implying that moving ur assets to crypto was a good way to edge against naira devaluation.

Like I said before, cryptos are purely speculative in nature.

"Interestingly surprised" is how I will describe it. Why? because whilst I expected it to crash to $ ZERO, I did not expect this fall so soon. More downside clearly on the cards.

BTW it has not and will never constitute 0% of my assets... I don't even know how to go about purchasing any digital assets because I am not interested. But as ever, best of luck to digital asset investors (crypto et al).

ositadima1:


Why are you surprised?

Last year bitcoin fell by over 50% from its highest point to $29.7k (maximum drawdown as it recovered quite a beat), why dat happened I am not sure, wasn't closely following the news.

With this years multiple issues - war in Ukraine, high inflation rates, increasing interest rates, high crude price etc - it is no brainer that bitcoin will be impacted.

We can reasonably project a 50% drop at some point this year as well (probably more). That should see bitcoin at $22.4k. That's where I would start buying in trenches.

Mind you, like I said before on this thread crypto shouldn't be more than 15% of ur total assets.

skydiver01:
"Interestingly surprised" is how I will describe it. Why? because whilst I expected it to crash to $ ZERO, I did not expect this fall so soon. More downside clearly on the cards.

BTW it has not and will never constitute 0% of my assets... I don't even know how to go about purchasing any digital assets because I am not interested. But as ever, best of luck to digital asset investors (crypto et al).

1.Business management or career management

2. Investment management

3. Money management.


Investors, employees and entrepreneurs try to do well in the first 2, but very few of them do well in Money Management.

Having more than 10% of your Networth in a risky asset that doesn't have a pedigree is poor money management

skydiver01:
"Interestingly surprised" is how I will describe it. Why? because whilst I expected it to crash to $ ZERO, I did not expect this fall so soon. More downside clearly on the cards.

BTW it has not and will never constitute 0% of my assets... I don't even know how to go about purchasing any digital assets because I am not interested. But as ever, best of luck to digital asset investors (crypto et al).

I don't expect it to crash to zero, except a similar and better alternative was implimented.

Crypto, especially bitcoin, remains a very good medium of exchange - decentralized, anonymous, fast, cheap.

As a store of value? I don't know cos it is not backed by any entity. Holders confidence mainly lies in its limited quantity and foolproof structure (for now... ).

I think it will bounce back once things go back to "normal".

emmanuelewumi:



1.Business management or career management

2. Investment management

3. Money management.


Investors, employees and entrepreneurs try to do well in the first 2, but very few of them do well in Money Management.

Having more than 10% of your Networth in a risky asset that doesn't have a pedigree is poor money management

Lol, same goes for Naira or any currency for that matter. Cash over long periods is prone to many problems eg Devaluation, inflation, theft, time etc.

Grupo:


What's the VGIF rates now?

Still 4.5% but effective from 1st July 2022 it will be 6% because sdf is now 6% following rate hike at the Last MPC meeting in May.

Irrespective of the time of sdf change, it takes effect on VGIF July 1st or January 1st whichever date comes first after sdf change.

Totally agree

emmanuelewumi:



1.Business management or career management

2. Investment management

3. Money management.


Investors, employees and entrepreneurs try to do well in the first 2, but very few of them do well in Money Management.

Having more than 10% of your Networth in a risky asset that doesn't have a pedigree is poor money management

ositadima1:


Lol, same goes for Naira or any currency for that matter. Cash over long periods is prone to many problems eg Devaluation, inflation, theft, time etc.

That can only happen if you did not invest the cash

Ugmama:
Thanks guys. I have a clean Toyota car for sale but I am based in the east for those that can come for inspection.

This is for sale please. Contact me for physical inspection, no online deals.

Thank you

See

emmasoft:


Still 4.5% but effective from 1st July 2022 it will be 6% because [/b]sdf[b] is now 6% following rate hike at the Last MPC meeting in May.

Irrespective of the time of sdf change, it takes effect on VGIF July 1st or January 1st whichever date comes first after sdf change.

Please what do you mean by "SDF"? Thanks in advance.

CBN's Standing Deposit Facility (SDF) - essentially CBN's fixed deposit account for banks.

creategist:


Please what do you mean by "SDF"? Thanks in advance.

Goodness me...Bitcoin is currently at $23.7k... Chai...

skydiver01:
Goodness me...Bitcoin is currently at $23.7k... Chai...

I don't understand the reason for the surprise and the thinly disguised schadenfreude.

Bitcoin fell from 19.3k to 3k between 2017-2018 only to rebound and go up to 67k. Bitcoin fell from 1,000 USD+ in late 2013 to as low as 63 USD in 2014. Sharp falls are normal in Bitcoin's price history. But it doesnt change the fact that there will only be 21 million bitcoins and it cost energy to mine bitcoin (contrary to people thinking it is based on "thin air". Like land, it is scarce and like land, it doesn't provide cashflow. The lack of cashflow means that it cannot be reasonably valued using traditional valuation approaches).

Hmmm what i would do is use another savings wallet that will offer me more.
If I use FairSave I get 10% interest in 365days
I even get the chance to withdraw my money whenever I want to
So instead of leaving my money in a traditional place that don't give me enough interest, I will rather go to where I can get maximum interest and peace of mind.

collinsobinna:
Done my research.

First bank offering 4 percent at 180 days.
4.25 at 270 days and 4.6 what 365 days.

However I could earn more on my principal by using piggyvest.

But I want to ask here if you guys would do same or would you rather leave your funds in a traditional
Bank like first bank. We are discussing safety of the funds while pursuing best returns.


What would you do? Use piggyvest and earn more interest but worry about safety of the funds or use first bank and manage the modest rates

I just started using Fairsave too, and I love the part where I get to receive daily interest. kudos to fairmoney

techboss1313:
Hmmm what i would do is use another savings wallet that will offer me more.
If I use FairSave I get 10% interest in 365days
I even get the chance to withdraw my money whenever I want to
So instead of leaving my money in a traditional place that don't give me enough interest, I will rather go to where I can get maximum interest and peace of mind.

Bought at N430, about to sell at N600. Profit more than N700k, Dollar v Naira is the new blood money

You forgot the part where it is free withdrawal. you don't pay a dime to remove your money. quote author=techboss1313 post=113769312]Hmmm what i would do is use another savings wallet that will offer me more.
If I use FairSave I get 10% interest in 365days
I even get the chance to withdraw my money whenever I want to
So instead of leaving my money in a traditional place that don't give me enough interest, I will rather go to where I can get maximum interest and peace of mind.

[/quote]

Lovely word - schadenfreude. On the contrary, I derive NO pleasure from any investor or anyone getting hurt. That said, whilst I am not remotely interested in exchanging words with you, I will point out the following:

1. Bitcoin is not like Land as an asset class. Bitcoin can disappear into "thin air" overnight. Land cannot.
2. Bitcoin has no intrinsic value. Land does.

I will leave it at that whilst recognising that we are all entitled to our opinions. Wishing you the best and kind regards.

einsteine:


I don't understand the reason for the surprise and the thinly disguised schadenfreude.

Bitcoin fell from 19.3k to 3k between 2017-2018 only to rebound and go up to 67k. Bitcoin fell from 1,000 USD+ in late 2013 to as low as 63 USD in 2014. Sharp falls are normal in Bitcoin's price history. But it doesnt change the fact that there will only be 21 million bitcoins and it cost energy to mine bitcoin (contrary to people thinking it is based on "thin air". Like land, it is scarce and like land, it doesn't provide cashflow. The lack of cashflow means that it cannot be reasonably valued using traditional valuation approaches).

TotoNaRubber:
Bought at N430, about to sell at N600. Profit more than N700k, Dollar v Naira is the new blood money

How did you buy at 430naira per dollar?

Mukah1234:


How did you buy at 430naira per dollar?

Not How, instead you should be asking when did he buy?