₦airaland Forum

Grupo:
Lol.

What's Rwanda's GDP?

A while country will build an ordinary computer lab, take the pictures and upload to the internet. You people will be here shouting Rwanda is heaven on earth.

Don't let crispy PR images and articles deceive you.

Educate us please: what is Rwanda's GDP? I know of Botswana's. Have you visited Rwanda before? It is not all social media please. I for one is very happy that a few African countries are making progress. If this can spur our useless leaders to do better, then maybe we can reach our own potential one day.

Modified: nobobdy said Rwanda is heaven on earth. They are doing better than us in some aspects, period.

hustla:
I have seen articles saying Rwanda is mostly Social media and packaging but they seem to be doing quiet ok

I could be wrong though

That's what they want you to think. Rwanda's president is known for past war crimes and a dictatorial approach to governance. He is not very liked by the powers that be, (France e.t.c) hence anything to diminish the progress they have made so far will be pushed. In healthcare coverage alone, they stand out as one of the best in Africa - they are making progress in other aspects too. Not perfect in terms of governance, but who is to say that democracy is the best form of governance?

ahiboilandgas:
bostwana is progressing steady against all odds ...eurobonds are not converted to naira and sent to politicians they are tie to specific projects that will be finance or sureup the fx reserves against shocks

Very true, ahib. Rwanda is garnering attention because of the swift progress so far, but people don't know much about Botswana, the secret (to most), hidden treasure of Africa. Very good GDP too compared to her counterparts.

thesilentone:
I don't use any of these services so I cannot comment outside of what I read on here which, for the most part, has not been great. However, I don't think from a business perspective, as it stands, that they will be able to offer these low rates. Firstly, what is the uptake of interest in US stocks as compared to local stocks? How many people actively trade it? How profitable will it be to them in the long run? How big are these fintechs to pull such leverage? Exchange rate will always impact on the costs they charge. Even in the UK, there are very few brokerages that offer the option to trade US stocks, they would rather have you trade on the LSE. If you decide to use a cheaper option like Denigro, they will convert your funds to their base currency, carry out your services then when you decide to recoup your funds, they will pay you after converting to their base currency. It charges 'cheap fees' but I'm sure you can see that your profits will be severely impaired by their conversion rates. Without sounding like an apologist for them, I think they should be given time for improvement. I think clients can drive them to improve, if they are open to it OR a bigger, better competition can wipe out their market share - the four combined. A typical example would be when Globacom introduced the per-second billing, it forced MTN & Econnet to adjust but there was already a huge market ready to be taken over. Customers of these current fintechs should continue to push for improvements until better options come into the market space.

You're right, from a business prespective, service improvements is a very practical deal to push for given the current situation users are mostly encountering across all apps especially regarding payments/deposit processing. There remains high financial illiteracy in Nigeria, and many people are still wary of anything stock market. Regardless of these challenges, there is huge market potential in this country so they have to keep innovating to stay competitive. As referenced in your telcom sector analysis, the general reduction of charges and exchange rate will be a game changer for etiher of these apps, or a new market entrant. Of course, not 0% charges like Robinnood, but a reasonable reducfion. The future looks bright.

thesilentone:
Competition among the brokers has provided a positive benefit to end users. If the biggest companies with the best tools are offering 0% commissions to buy/sell shares, in effect, the smallest companies will either conform or go out of business. ''When two elephants fight, the grass will suffer''. This competition only hit new highs last year, as a customer, long may it continue. They make their money from other investment instruments and offerings once they get the customers. That's the game - get the customers in through the door, then sell them other products/offerings.

The exact reason why people have to keep reviweing and sharing our experiences with all the current apps (Chaka, Bamboo, Trove, and Rise) in order for them all to stay competitive, and especially for end users (us) to get more value for our money. It looks exploitative to have high fees for buying and selling, as well as high exchange rates too. Which is one of the reason why I did not consider day trading....you would basically be working for them. If any of them finds a way to key into much lower, competitive costs, more end users will subscribe. Or better still, a new player could enter the market focusing solely on these 3 points and gather more market share. I was impressed to see Bamboo has now included analyst reviews and aggregrated news for each stock...it helps improve owner's due diligence.

lastclaire4:
I deposited money using Bamboo at 3pm since on Thursday and up till now, the amount has not reflected on the wallet.
I am tired of chatting with their customer service. It is already more than 48 business hours but I am still told to hold on.
This is how it starts. People beware.

Wow, this is quite sad. Follow up with them o

Guys, what do you folks think about this stock - BCRX? They also have a drug undergoing trials for Covid 19?

Sholapey:
Lol...he sounds like him with different moniker.

The latest discussion has been very insightful, all contributions have been great so far, pay no attention to the drama.He is not healthserve. He once wrote a very interesting story about his line of business which i read here on nairaland - transcontential commodity trading if I recall correctly - using his other moniker. He's also learning from here too, he may not admit it though. Good discussion, guys!

4Play:
By deflation, I mean the possibility of falling consumer prices. Inflation has been pretty low in the US when the economy was good, the sheer scale of GDP contraction we are facing threatens to tip things into deflation territory.

This is why Fed monetary easing helps. Counterintuitively, it makes a compelling case for gold mining stocks as money pours into gold because people want to hedge against inflation/currency debasement.

I understand better. So people stop buying as they used to but would rather look for other solid investment alternatives i.e. gold. Many thanks 4Play

YerYer:
My brother everyone learns differently. When I started I watched a few videos on Udemy about stock investing for beginners. I started watching CNBC regularly and I browsed through Yahoo Finance. I tried reading a book about investing in stocks and I didn't get past the 20th page.

Most people will suggest you start by reading books, there are several books about stock investment such as "The intelligent Investor"; "A Beginner's Guide To the Stock Market" or "The Little Book of Common Sense Investing." Any of these books should teach you the fundamentals to get started and they cost less than $20 on Amazon. You can pay for a course on Udemy.com, they cost like $10.

I base most of my trading decisions on trends and sectors. For example during bitcoin's meteoric rise 3 years ago, every company who announced that they will be investing in crypto currency were rewarded by investors. So I rode the crypto wave that year until bitcoin dropped like a rock. Same with what I'm doing now with healthcare stocks particularly the ones that manufacture vaccines, ventilators or N95 masks, they are on an uptrend mainly due to the high demand during this pandemic. Another trendy sector is the stay-at-home stocks like Zoom (ZM), Teladoc (TDOC) , Livongo Health (LVGO), Chewy (CHWY), Docusign (DOCU), Papa John's (PZZA) ETC. For short term trades I follow the current trend, but for long term investment I keep a diversified portfolio of big cap stocks in different sectors.

In summary, start reading or searching videos, then browse cnbc.com and yahoo finance for commentary. As always if you have any questions, you can always ask here on the thread, we are all learning as we go.

Spot on, YerYer. I have improved on reading financials of companies via the methods you mentioned. Yahoo Finance is also a great resource too. I predict that this thread will also be a huge resource too moving forward as we all grow and read different, views opinion and picks from all. Well done too.

4Play:
I think a wait and see approach is appropriate if, like me, your investment horizon is to buy and hold stocks for up to a year.

The markets bounced off the lows after the Fed injected liquidity but we need positive news about the covid-19 situation to move significantly higher. Otherwise, we are going to be in a stalemate (bouncing back and forth), and even retest the lows if the virus situation doesn't improve.

It's the big tech stocks that I am keen on like, Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOG) for their strong balance sheets but even here I will exercise caution given the stalemate I noted.

I also like Regeneron (REGN), Costco (COST), and Walmart (WMT) for their balance sheets. Unlike the aforementioned tech stocks, I suspect they can trend higher even in a bear market if the covid-19 crisis doesn't improve.

PS: I think hyperinflation out of the question as the Fed's liquidity injection supports asset prices (good for stocks) but hardly flows into the real economy. We should pray to avoid deflation in the US.

Thanks for the analysis and stock picks, my strategy is almost similar to yours. I agree with you regarding the tech stocks as the growth horizon is very favourable. I have MSFT too, and the stock has rebounded well since the last dip. When you say deflation, how exactly could this play out, hypothetically?

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

Oga OakPearl, make I send account number? jokes aside, you do know how to pick these penny stocks. More loot for you this year. Nice one

4Play:
USO stock suffers from rollover risks so is a poor way to play a bounce in oil prices. As I understand it, the ETF needs to be rolled over at the expiration of the front month's (nearest month) futures contract.

For instance, the ETF will currently hold the June contract for WTI which they have to sell in May to purchase the July contract - if they don't sell, it means taking physical delivery of oil which they don't want. Come May when selling the June contract, they will be selling at lower prices than they bought the contract due to the supply glut whilst purchasing the more expensive July contract. Therefore, they are constantly buying high and selling low in a so called contango market.

Hopefully, someone here is a better explainer but it appears a no-go area for anyone betting on oil prices rising. Unless one is looking at a short-term bounce.


There is also an article that explains the USO stock problem: https://seekingalpha.com/article/4338311-betting-on-higher-oil-prices-uso-is-not-right-vehicle


Maybe consider Occidental Petroleum (OXY) to play a bounce as it looks poised to rise once the carnage in the oil markets stop. A better run oil company is Chevron (CVX), though that has risen quite a bit since its lows.

Very sound picks, 4Play. Given the present situation (covid, oil, looming global recession), what is your general outlook about the market? Obviously, one cannot time it, but it is also wise to observe trends too. Many portfolios are red, and stocks are available at a bargain too. But does one keep throwing in cash regardless? I also read about the possibility of US experiencing hyperinflation if their govt continues this money printing?

ositadima1:
Lol @ bolded, I have counted up to 3 of his monikers on this thread. I wonder why someone would be changing handle every few week.

Haha...I know the fellow too. That is the best part of this forum, you interact with different minds with also very interesting perspective to things. All na learning - both good and bad. He is young, ambitious, very intelligent actually but highly conceited and lacking in deep self awareness. One love, people

CowbellY:
Are there dividend paying stocks on Bamboo ?

Sure, many. Most vanguard etfs pay dividends too.
OakPearl and some of the folks here have mentioned a few. It is important to note that because a good number of us can only afford fractional shares, the dividend units may seem small when it comes, but as you build i think it becomes subsantial. Information on US stocks is very available and accessible online, unlike our own stocks that sometimes it may seem difficult to properly monitor. Do a lot of reading and pick sound stocks across sectors you like. JNJ pays.NVDA too.

NOTE: please I am also learning so do your own due diligence. The ogas here may have better suggestions. Bamboo credits your dividend directly to your wallet. I am sure the others do the same too.

thetelz:
Could anyone with dollars on Trove check for me how much withdrawal to Naira bank account is?

Because I can see N431 to convert to Dollars and N422 to convert back to Naira

As at today, it's N420.16 to convert to dollars.i.e deposit. I don't know how much for selling, don't know how to check unless am selling . Rates fluctuate though. This is for Bamboo.

seyisanya:
Can you please share their most recent exchange rates? Rates on other platforms vary as well.

I see what you mean. All the 3 apps have their strengths and weaknesses. Just like how we have different brokers for our own stock. I use Morgan cap for local stocks mostly based on recommendations I got from the other thread and I have not regretted. For US stocks, yes, for now, I like Bamboo - prompt customer service, good user experience, and good rates. This has been my own experience. Yes, not yet perfect, but I think all of them are growing. The competition favours us the end users, so why would I not change if I experience challenges?. I think Chaka and Bamboo even use the same US intermidary - DriveWealth LLC. Correct me if am wrong. It suits me for now, when it does not, i will change. No one likes to loose money

seyisanya:
This is a no-no! What? Trove and Chaka will credit your trading account in seconds!

Bro, still learning to be like you later. I do not day trade so I like them.

gamaliel9:
I use Chaka....i do not know how they do it..but the money lands immediately you sell but you cannot withdraw it till after 2 or 3 days...T+2...settlement. I think the same thing happens in NSE...

Oh, okay bro. So technically, it is the same with Bamboo in some way. I am more interested in long term investments (Vanguard etfs) and then I buy a mix of other good dividend paying stocks for mid/cap appreciation. Since I am still learning, I do not want to day trade so Bamboo suits me. I think their exchanges are slightly lower than the rest. Not sure cos it changes.

Well, for now, I am quite comfortabel with Bamboo. When I find a reason to move, then I will.

CowbellY:
That's interesting.

When I credited my Trove account, it took them about 2 days to convert naira to USD.

When I got round to using my Bamboo, they mentioned a 24 hour wait but I was surprised to get a mail about 4 hours later, confirming the deposit.

Again, this is all personal experience. Might differ elsewhere.

Almost the same experience that I have had so far with Bamboo. Crediting your account takes roughly 24hrs. When I sell a stock, it takes a day or two for my money to reflect in my account. I cannot speak for Trove and Chaka as I don't yet use them.

Dsticks47:
Good afternoon Sir/Ma.
Just to clear the air here.
Every marketer working with investment one have their Unique Freelance code which is used to access their performance.

I don’t see any reason why you should say nobody should click on his link without a valid reason.

So many people opened an account with investment one without going to the office physically.

Virtually all Financial institutions in Nigeria have gone digital.
(So will you say those accounts are not valid)

Note! No staff have the right to collect cash from any client.

Oga Emmasoft and Dsticks47, I think the reason for this thread is for people to share, air their views, give opinions regarding mutual funds. I follow this thread as with some other investment threads here, so please do not see my opinion as an attack, I know how marketing of financial products can be too, as I was one too one time in my life. Please you guys should kindly allow conversations to flow here. Still market o, but allow people to share opinions whether or not they like your product or not. The thread is becoming boring sef....compared to treasury bills and the 2 other stocks thread.

rebekah2011:
I believe that Dangote's focus now is really on getting his refinery up and running. He has made good money in the Cement business. He can afford to keep the coy aside for now. there is a share buyback programme already in place. The more it drops the better for them to buy at a lower price and short change retail investors. The coy is also low in cash and still wants to pay 275b in dividend. I believe that buying at this price is not a bad decision. There is also an N16 dividend to benefit from. You may be lucky to get tidy units at N118. It is also going on a borrowing spree of over N300b.

Thanks rebekah2011 and everyone.

Is Dangcem still a fundamentally sound stock? Man is worried here as I still am in that ship. House, kindly advise please.

I follow these websites/blogs too.
www.marketwatch.com
www.motleyfool.com
www.tradingview.com

Still a learner though...

Good thread. I have been using bamboo for a few months now. Since i dont know much about stocks and no time for active trading, i am sticking with etfs - vanguard types precisely.

Tabuse20:
Sir emmanuelewumi, I would like to join this group. Please kindly share the link or let's know how.

Thank you everyone here for the very good contributions on this thread. I have learnt so much.

On a second thought, please disregard sir emma, let the learning continue here. I do not want to derail the thread, and i respect people's privacy. Disregard the mail too. All is well. �

emmanuelewumi:
Wanajo, Oracle, myself and other top analysts are in my WhatsApp group analysing and discussing different companies, industries, businesses and investments in Nigeria.

Sir emmanuelewumi, I would like to join this group. Please kindly share the link or let's know how.

Thank you everyone here for the very good contributions on this thread. I have learnt so much.

Hello Chrisvic,

Do you ship from other sites like alibaba, dhgate? Can i send you guys the link to purhcase for me and then ship. Please let me know your procedure for registering and payment? I tried that on the website some weeks back but did not know what to do next as i am not buying from 1668 or taobabo.

I will say this regardless of how you perceive it. This is in the interest of this thread which i and a lot of people are gaining from each other, including you guys. I am not a moderator, but can i beg you guys: ahiboilandgas and GonFreecss 1. Please let it go.....let us focus on tb abeg nah. I think everyone else seems to have moved on from the gtb story. Ahiboilandgas has pushed the whole thing tooo far with direct attacks on one tribe. Interestingly enough, the pepole calling for calm since yesterday are not even igbo. Abeg e don do, if more igbos join this argument now, we will officially throw our beloved tb thread to the dogs. Let us all show some decorum. Let us hide our inner prejudices and please please move on and focus on our investments.

I believe we are all educated and civil minded people. It is interesting to note that when this topic was briefly raised in the stock market thread, it did not raise any emotions. Unless there is another authority greater than the supreme court, gtb will pay innoson. Whether rag tag assembly plant or alaba trader, it makes little difference, our great forbes billionaires like dangote, adenuga etc also owe. You all both shared information from both parties - gtb's statement via proshare, and sahara reporters as well as innoson's take. What we should have been discussing here, as we have often done in the past is how more people should start holding our banks accountable for fraudulent acts.

God bless us all.

Greeting house, am curious to know why most people do not like to use direct bank transfers in NGN. Are the charges more or the processing days more?