₦airaland Forum

emmanuelewumi:
The other time I highlighted the importance of having cash reserves, it is important for individuals, businesses and countries. Companies like Zenith bank have over N500 billion in reserves, Apple has over $120 billion, Warren Buffet has almost $100 billion. While Nigeria with over 200 million people has less than $40 billion. I doubt if the state governments have any reserves at all

Assuming our country has enough cash reserves, workers who have been paying tax for a minimum of 12 months ought to be given at 50% of their monthly salaries as palliatives because of the pandemic.

Airline companies won't pay April salaries to their workers.

I got a rude shock from the Internal Revenue Service about 2 weeks ago, asking why I have not forwarded the March PAYE tax of my workers to them.

FG might not have money to share to the states as from May. Unfortunately it is businesses that the state governments will tax and stress in order to get enough funds to pay civil servants and manage the states.

The current or expected recession is going to affect workers, businesses, business owners, self employed, traders, citizens, governments, tithers, non-thithers, pastors, parishioners, side chicks, sugar daddies, tenants, landlords, celebrities, fans, political, poor, rich, old , young, urban dwellers, rural people, students, the list is endless.

May God help us to put an end to this, so that the economy will start looking up.

It will definitely require a big miracle for Lagos not to be locked down for beyond 2 months which is 8 weeks

Nigeria is a country of contradictions , with a lot of wrong priorities . we are in my estimation a poor country although they like to sugarcoat it by saying we are a middle income country , gdp per capital of around 2k dollar , the new poverty capital of the world with close to 90m people living below the poverty line

We live beyond our means , we have some of the highest paid politicians in the world , the average nigeria is not left out . No savings , nothing

We are not a very productive nation , bringing nothing to the table of world commerce and economy except raw produce like crude oil and agric produce , no value addition most times only to reimport refined/ value added products

Add to that the colossal waste of our meagre national resources due to mismanagement and outright incompetence by our political and economic leaders over the past decades and you can begin to see the kind Of serious trouble we dey . Not mentioning corruption and Population growth that are still among the highest , problems boku

More Serious winter is coming

I join my faith to yours to hope for the miracle that will happen but at the same time I will prepare for winter

emmanuelewumi:
Hello guys can we share investment or money management lessons we learnt during this lockdown.

I learnt three major lessons.

1. Cash is king

2. Live below your means

3. Be cautiously optimistic

Cash is king takes on its fullest meaning during downtime /recession and when opportunities abound . Good assets real estate , stocks etc will become cheap then

The importance of having liquid reserve cannot be overemphasized, it’s for times like this . Am particularly excited and alert in times likes this simply because of the opportunities that will open up


For me as a manufacturer with over 400 staffs , will tell you how I always come out stronger during economy crisis or depressions for the last 15 years , and the crisis of 2016/17and 2008/10 comes to mind .same thing I have been doing for this crisis . some of those years my sales went up 25 to 45 %

Moving into stocks both raw and packaging materials way before the manifestation , been moving into both 3 to 6 month ago , similarly in 2015 etc

This allows you to have converted all your loose cash to stocks at prevalent exchange rates and allows you to produce fully when others don’t have stocks say because of dollar shortage or increase and at a reasonable markup

It requires you to be proactive and liquid

To me it has been obvious that devaluations was coming since 2nd Quarter last year , converting part of loose funds to dollars was a no brainer if you do a lot of importation

3rdly this year , doing something I had always advised people to do but never did because of many reasons which is to hedge recession and devaluation by playing and buying right in the stock market

Lockdown due to panic and fear , recession , low oil price Resulting to devaluation , economy slow down and inflation etc could be mitigated against . We are in interesting and rewarding times for those that are prepared

All above can be done simply by having cash/liquid reserves . Being conservative in good times and being aggressive in times like this when opportunities open up . Cash is truly king

Sholapey:
Are you interested in the said property? If yes, I can refer you to the owner because the offer came after I left Nigeria and I had bought one around ashi bodija for office use while on grand.

Not interested at all madam , have many offers for residential in the same bodija ,residential is Just not my thing

Theconglomerate:
e be like you want go buy the property for her back at 20m
Lol,no mind me ooo

, only do commercial for now

Sholapey:
The property is located around bodija exit.

Still don’t where bodija exit is , what are some of the landmark in the area

Sholapey:
I will send you the video now on WhatsApp. I sent it to Oga ahiboilandgas and he confirmed to be good deal if the seller agreed 33m because of the excess land left behind and location.

Bodija is a good area , what part of bodija are we talking of , new or old , or towards Ashi , for me location is also key , is it on a major road , is a corner piece where it’s located , little things like that increases the value apart from the obvious ones like extra land u said

What are the prices of similar properties going for in that area , due diligence is required

Like some people have pointed out , you will get bargain prices later in the year as the economy stumbles , relax

I have an ongoing commercial development on the major road of bodija

RabbiDoracle:
Breakeven?

Most that bought at March lows are on good GREEN.

I will advise you stay put and watch.

I dey gbadun you bro

Once you bought low and also have no previous baggages , there is absolute no pressure to sell . We will ride this donkey to Jerusalem

creategist:
It has been mentioned here before that buying & selling commissions with brokers can be negotiated downwards. Is anyone here aware of how much minimum one may need to have in their trading account to enjoy such benefit please?

True

Call your brokers and discuss with them , I don’t think there is a minimum amount cast in stone

Am sure it depends on negotiation , I got further discount from Morgan

emmasoft:
One of the lessons we just learnt under this COVID-19 regime - It has shown us how much our money can make for us while we are lock-down/not active at work or in any business. If while on lock-down, you are not making any passive income then it means you need to start investing immediately in fact you need to declare a state of emergency on your investment situation, as little as 5% or 6% some MMF managers are giving now, some people still got credited or will be credited while they are on lock-down and dividends were paid and will still be paid to investors in stocks. If you are on lock down and your money too is lock down, then you need to review your investment strategy. Assume this lock-down is your retirement period how well can you live well without working? If only when you open business, or you are present at work you make money then your investment is not complete you need to do more forms of investment. Just a lesson!

Your contributions and response even from the other investment threads are always on point . I asked about you from the branch head ilorin a while ago , you are a good ambassador of investment one . Well done

billtommy:
Sir, are you saying it is too late to load more? Especially on the likes of zenith, wapco, gtb, fbn??

Good question

Depends on what returns u want , where u are coming from , other streams of income available , what time frame you have etc

For me It’s simple really from where I am coming from , deploying funds from fd , mmf , treasury bills , and with horizon of 9 to 12 month , I will still be going for some of the stocks you mentioned

It wont be unreasonable to expect 15 to 25 % returns or more in that time frame , that’s much better than current fd , mmf and treasury rates for a year and also above inflation rate

Do you proper diligence however , I for example won’t be moved in any away if things don’t go as expected in that time horizon with my invested fund

RabbiDoracle:
Na bottom fishing we dey do o.

I no dey chase price. Price dey come to me.

I am done buying.

I don try.

I wish everyone goodluck and stay safe.

Chai

Some of us were warming up in March and was about

to accelerate With our purchases in this month of April,

Make bus no leave us

Mcy56:
Yes, I'm aware you get some discounts cos you're money bags, but comparing the charges even with the discounts makes Morgan still much cheaper.

Chai!! Morgan needs to pay me for adverts o.

But why not make a good thing better if you can get more discount

Mcy56:
Thanks.
Meritrade is for big boys, we're just trying to compare brokers with low charges as Morgan.

Big boys don’t pay the normal charges anywhere , someone gave me that tip on this thread a while back even for Morgan Capital

naturalflow:
they say fpi drives our market,it will be expedient for me to trade along this line I.e if they are going out,I go out with them,if they come back,I come back with them.if I buy now when market is going down,what is the need since I can still buy lower latter.

Ideally you should exit before them and position before they return

Thumbs up to all the contributors , the amount of information available to guide for profitable investing on this thread is mind blowing

I personally believe we will see more multi year lows for a number of stocks this April . We are in very interesting and I dare say profitable times

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