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Stats: 2,889,374 members, 6,947,380 topics. Date: Tuesday, 05 July 2022 at 01:49 AM
|Celebrities / Re: n by vinderbilt: 10:05pm On Aug 17, 2016|
They look aroused. may be it's the cold
|Business / How I Shorted The Naira. (forex Strategy). by vinderbilt: 2:06am On Feb 19, 2016|
[Disclaimer: This post is just a case study. I am not writing it to claim that I got rich from some currency short or to encourage any aspiring short sellers on how to make trades or deals that will affect the value of the currency of our beloved country].
It was early 2015, around January, February to be precise. The value of the Naira had just taken a beating against the greenback and our Elections were nearing. Few anticipated that oil prices would keep falling all through the year.
In 2007 and 08 I thought the oil price of around $100 per barrel was just a temporary high but it stayed up there longer than we most anticipated. Then the world became used to high oil prices. It was a lost opportunity to a country like Nigeria I believe as the government went an unnecessary spending spree while the foundations of the economy were still shaky. Fast forward to 2015, there I was, a self-proclaimed student of world economic trends with a chance to play real life "short selling" with the little that I had or didn’t have.
I first read about short selling in 2008, I was just beginning to take an interest in the stock market and I tried to buy around 300,000 Naira worth of stocks. I got just a few bucks out of that as the stock market in Nigeria collapsed the following year. I wondered if someone read a little more and analyzed a little more of the capital market situation in the country back then and found a way to short most of the overvalued stocks (most stock prices were supported with credit from sometimes the banks that are issuing the stocks). I never found a way to short the stock market, so I gave up.
Early 2015 I had a trip planned. I was terribly worried about the fall of the Naira and I was scared the Naira could fall even further. Then it hit me, this is a situation I could short and make a profit. But before I attempted a short I realized with nervousness of the coming elections, the Naira could fall more and if oil prices keep falling, it could fall even further. So I used the excuse of the trip I was going on to collect a Naira loan which I then changed into Dollars at a rate of around N185 to the dollar and I kept the money.
After I came back from my trip and it was time to pay back my loan, I sold the Dollars at the rate of 220 each. I made a profit of N35 on every dollar I bought at N185. I paid back the loan and kept the N35 profit on every N185 I borrowed.
At today’s rate, a few weeks after the U.S Fed raised interest rates, I would have more than doubled my profits if only I kept the loan long enough. I would have kept it till next year as I anticipate an oil price fall to follow the U.S. Fed rate hike.
Source: Naija Startups Blog
|Agriculture / Re: Tomato Glut Hits Katsina Markets As Price Drop To N300 From N5, 000 Per Basket by vinderbilt: 3:01pm On Feb 17, 2016|
To think I once did the tomato farming and selling business glad I got out long ago, this is like being Nigeria in these times of global oil glut
|Phones / Re: Top Nigerian App You Should Have On Your Phone by vinderbilt: 9:09pm On Feb 06, 2016|
YES! The 9flix TV app is a must https://play.google.com/store/apps/details?id=com.ww9flix
|TV/Movies / Re: 'Action Film'- A Short Film Script By Sholay2011 by vinderbilt: 1:46am On Nov 04, 2015|
Bro you may have Gold in your hands.. I like it. I think you should get in touch with the award winning producer of the short Alpha Mom - http://9flix.com/watch/4364 You too could bring this to life.
All the best
|Celebrities / Re: Oge Okoye Stuns In Denim Outfit (Photos) by vinderbilt: 8:51pm On Oct 29, 2015|
She's too cute. I've been watching her clips here all day http://9flix.com
|Webmasters / Nigeria's First Startup Founders. Where Are They Now? by vinderbilt: 2:03pm On Oct 07, 2015|
Before Nairaland was launched, before fast 3G modems, before the country had any significant Internet usage, there were a few trailblazers who wanted to be their first by starting their Nigerian focused online business when the Internet was still a very Global place when it was dominated by many outside websites.
Did they succeed? where are these businesses now? where are the founders and what are they doing?
Find out what founders of 5 of the first Internet businesses in Nigeria are doing right now
|Celebrities / Re: Cossy Orjiakor At Her European Sendoff Party (Photos) by vinderbilt: 12:38pm On Oct 05, 2015|
"Different" is not the case. I know she's better and a bit less raunchy than Afrocandy.
|Celebrities / Re: Cossy Orjiakor At Her European Sendoff Party (Photos) by vinderbilt: 12:34pm On Oct 05, 2015|
She even posted a video kissing a white guy in Paris under the Eiffel Tower http://9flix.com/watch/574
|TV/Movies / Re: New British Nigerian Sitcom 'meet The Adebanjos' Airing Online June 26th by vinderbilt: 11:04am On Aug 09, 2014|
Good news.. Meet the Adebanjos is coming to my favourite online channel http://9flix.com
|Business / Re: Why The Next Richest Person Isn’t Building A Tech Company by vinderbilt: 10:13pm On Jul 22, 2014|
|Celebrities / Re: Nollywood Stars Of Yesteryears, Who Do You Miss Most? by vinderbilt: 12:57am On Jul 22, 2014|
I am glad that my sexy star Cossy Orjiakor id back!!!!! She did well in the movie 1 million boys http://9flix.com/watch/574
I miss Black Arrow though. He is funny sha, I wonder where is sef? somewhere drinking Viju milk
Speaking of milk, check out Cossy
|Entertainment / Re: Top Ten Nigeria Tv Programmes by vinderbilt: 2:34pm On Dec 29, 2013|
Don't forget the new Comedy TV Series Aproko101. It is as hilarious as those classic Nigerian TV shows.
|Celebrities / Re: Tonto Dikeh Talks About Her Depression by vinderbilt: 3:31pm On Sep 25, 2013|
She has money, why would she be depressed.
|TV/Movies / Re: Movie/tv Series Audition Notice In Abuja/kaduna by vinderbilt: 10:37pm On Sep 02, 2013|
Hi guys, I run 9flix TV. If you have any content you want to put online, promote and monetize you can reach out to me, email is on the site. Also I am interested in knowing more about your kaduna/abuja productions if it is something we might be interested in.
|Celebrities / Re: Don Jazzy With Dbanj At His Sister’s Wedding by vinderbilt: 9:18pm On Aug 03, 2013|
I am sure it was awkward for the 2 of them
|TV/Movies / Re: Nigerian Horror Film Trailer: KPIANS - The Feast Of Souls by vinderbilt: 9:11pm On Aug 03, 2013|
they shot the whole movie inside one parlour
|Celebrities / Re: Globacom Drops Ramsey Noah, Rita Dominic, Uche Jombo As Ambassadors by vinderbilt: 5:56am On Aug 03, 2013|
They don pocket enough money na, 3 years no be beans
|Investment / How Real Are Nigeria's Real Estate Prices by vinderbilt: 7:27am On Aug 02, 2013|
Sometimes I like to give the Nigerian housing market a nickname "Nigeria's Un-real Estate." It is no longer a debatable fact that Nigeria's housing market is fast becoming a bubble, properties are overpriced especially in the major cities like Abuja. We may not have a financial housing system in place that may collapse like what happened in the US towards the end of the last decade, but that doesn't mean we are safe from the trouble of a properties market collapse.
If you add up all the prices of the real estate in Nigeria, do you think the cash equivalent of such a grand total exists? if it doesn't, there is no cause for alarm, we are still safe. But, what if not even a fraction of that exists in our liquid economy, and what if the economy begins to slack from it's around 7% growth rate? What if there is a cash shortage and people try to sell their properties for some liquid cash? Just a combination of 2 or more of these scenarios can collapse the prices of houses and make a lot of people lose a lot of money just like what happened in the Nigerian stock market around 5 years ago.
We may not see another stock market crash anytime soon, but we could see a crash in other financial institutions like housing sooner than we had hoped.
Do you think the housing prices in Nigeria will ever crash or am I just being a pessimist? Do you see the property prices in your area as over-priced? Who do you blame for all these?
What are your own views on the future of real estate investment in Nigeria?
|Celebrities / Re: Tonto, Monalisa & Uche Jombo At Torn Movie Premiere by vinderbilt: 6:12am On Jul 30, 2013|
Some of the pix look like old pix tho
|Nairaland / General / Re: Movies, Novels Or Music That Inspires You Most? by vinderbilt: 6:28am On Jul 27, 2013|
Any movie about startups or money
August, Margin Call, Wall Street, The Social Network
|Crime / Re: Ifeanyi Aguo, Nollywood Director Jailed 15 Years For Drug Possession In Malaysia by vinderbilt: 2:53pm On Jul 21, 2013|
This is serious, Meth is a very dangerous drug. Nollywood peeps shouldn't play with it because it would destroy them and the whole industry.
|TV/Movies / Re: How Nigerian Ladies React To Nollywood Movie(s) by vinderbilt: 11:14pm On Jul 19, 2013|
LMAOOO reminds me of watching WWF wrestling with my grandparents
|Politics / Re: [funny Video] Mallam Lemu For President by vinderbilt: 1:27am On Jul 06, 2013|
them basket mouth should watch out for this guy
|Celebrities / Re: Monalisa Chinda & Ini Edo At Genevieve Mag Morning Dew Reading by vinderbilt: 8:13pm On Jun 18, 2013|
I believe this picture is from her role in Gossip Nation.
|Music/Radio / Re: Tunde Ednut Criticized For Burying People In The Sand In New Video by vinderbilt: 3:45am On Jun 10, 2013|
A Hilarious Parody of the Behind The Scenes Footage
|Music/Radio / Re: People Consider Enya's Songs As 'demonic' - Why? by vinderbilt: 12:07am On Jun 08, 2013|
some stars try this demonic acts just for the press and attention
|Fashion / Re: Regina Askia On The Cover Of Beauty Overdose Magazine by vinderbilt: 12:07am On Jun 08, 2013|
Awwww.. Regina Askia. Good old days of Nigerian TV
Thank God someone is bringing such classic films back, and it's http://9flix.com
|Celebrities / Re: Nollywood Celebrities With Their Parents by vinderbilt: 2:05am On May 25, 2013|
AWWWWWWWWWWWWWWWWWWWW she really looks like her mum
|TV/Movies / Cossy Orjiakor Is Back With New Movie "1 Million Boys" (trailer) by vinderbilt: 9:06am On May 20, 2013|
Controversial busty Nigerian actress/singer Cossy Orjiakor is back after a long hiatus that lasted over a month with the Triler of a new movie called "1 Million Boys". She hasn't said much about the movie or the role that she played in it, but from the trailer, you can see a bit of indecency
Watch the trailer here
|Politics / Re: Will NTA Ever Improve Their Pictures? by vinderbilt: 2:59pm On May 16, 2013|
It has taken way too long, but I think with time NTA will change. I know a few insiders that have confirmed this But as with any Nigerian government project, we have to see it from start to finish to believe it. And, yh, their logo is crap who the heck designed it in the first place
But serioulsy, they need to buckle up before the Internet and other innovations like the TV site I am working on http://9flix.com render them irrelevant. Trust me, it's happening already
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