Neverlosemoney:

Investing is not hard, I tell you, 90% of all fund managers knows nothing, 10% of them that actually knows something will perform horrible than you. Reason is because they are dealing with or moving a huge lots of money; allocating big money in investing comes with huge risk, the bigger the money the lesser the Return. Hence, most individuals would are just a little good in investing would perform better than the best fund manager in the world, judging by percentage return.

This year alone I have made over X6 of my net worth by investing by myself …..this is not bragging, I am just trying to emphasize my point. There are some on this thread who I don’t know in the real word but I can safely bet they have done better than that all by themselves, men or women who probably as no degree in anything related to finance. I doubt warren buffet or ray dalio have made X6 combined in this very year. I am clearly sure I am no where near this gods of investing not just in terms of money but knowledge, experience but they could not have given me that return this year not with those huge funds they are currently sitting on.

No one comes with the knowledge about investing from heaven, try and read a book about money at least once in a year, move with people who loves talking about investing and are doing it. You will see how easy, cheap and interesting, investing really is.

Honestly, investing always comes with accident; it does not matter if you are the one in charge or someone else but you will feel good knowing you are the one responsible for the accident and it will make you smarter. Not one motherfucker who shows up from nowhere with a tie and suit and with a definite plan to take you to the bottom of hell while promising you paradise.

You can make 6 times of your Networth or capital in a year depending on the size of the fund

When you have huge capital it is not possible

Tobex4realTobex234:

When you buy shares on Bamboo or Trove or Chaka, you don't fucking need a SEC approval. You can easily confirm that you own those shares by doing a check with the companies you have invested in (I always do this).

For all the stocks I've bought through Bamboo, I have verified them with the companies. Even my income fund in SFS through Cowrywise is verifiable.

Why in God’s name are you investing in SFS fixed income fund through a broker that will be taking fees from you?

Lazyyouth4u:


Why in God’s name are you investing in SFS fixed income fund through a broker that will be taking fees from you?

It is your money? Are you the one paying the extra charges?

ojesymsym:
In addiction to this question, which of these apps allow you buy with USD if you already have USD.

Are international apps that now allow Nigerians for NYSE?
cc. Tobex4realTobex234

Trading 212. Just fund with your USD card.

emmanuelewumi:



It is your money? Are you the one paying the extra charges?

The fees I go pay to change dollars to naira sometimes e pass that brokerage fee o. Ordinary $5 is almost 3k.

And since I have commitments in naira, that is the best way I am handling it right now.

akinola98:


Thanks for this info … quite helpful

Meanwhile do u invest in foreign stocks through these apps ?? If u do, how do u verify your stock with the companies Thanks

Yes I used Bamboo 2019 - 2020.
But right now I'm using Trading212.

Stocks verification is now digital. Try https://www.saytechnologies.com/

^^^ In addition, there is etoro, passfolio etc.

Tobex4realTobex234:


Yes I used Bamboo 2019 - 2020.
But right now I'm using Trading212.

Stocks verification is now digital. Try https://www.saytechnologies.com/

Thank you

Nice discussions.

Tobex4realTobex234:


Yes I used Bamboo 2019 - 2020.
But right now I'm using Trading212.

Stocks verification is now digital. Try https://www.saytechnologies.com/

Any reason you left bamboo?

Etoro accept Nigerians?

stevemims:
^^^ In addition, there is etoro, passfolio etc.

Foodempire:


Any reason you left bamboo?

Trading212 is zero commission. Bamboo charges 0.5% commission if I recall.

Funding Bamboo directly via my USD card costs me about 3%. Trading 212 costs me 0.7%.

But Bamboo has some some stocks that 212 doesn't have so I never really left Bamboo entirely.

Very interesting however, If all this fact will come true next year with respect to Dangote's refinery coming aboard with subsidy removal . Please what are the implications for citizen so that we can better plan?

unite4real:


You have a point here

@Tobex please can one buy this foreign stocks with naira, if yes how do one go about it at the least cost charges? Thanks

Tobex4realTobex234:


Trading212 is zero commission. Bamboo charges 0.5% commission if I recall.

Funding Bamboo directly via my USD card costs me about 3%. Trading 212 costs me 0.7%.

But Bamboo has some some stocks that 212 doesn't have so I never really left Bamboo entirely.

I know they accept Nigerians in the diaspora, but I can't say for those in naija. Just give it a shot.

ojesymsym:
Etoro accept Nigerians?

Tobex4realTobex234:


Trading212 is zero commission. Bamboo charges 0.5% commission if I recall.

Funding Bamboo directly via my USD card costs me about 3%. Trading 212 costs me 0.7%.

But Bamboo has some some stocks that 212 doesn't have so I never really left Bamboo entirely.

Sounds interesting! I currently use Bamboo. Tried signing up on Trading 212 but got error message “country not supported”, I changed my country of residence to another country but I got another response that new account opening on Trading 212 has been paused.

Is there a way to go around this?

They'll get back to you! However, be ready to prove your residency in the country.

Mukah1234:


Sounds interesting! I currently use Bamboo. Tried signing up on Trading 212 but got error message “country not supported”, I changed my country of residence to another country but I got another response that new account opening on Trading 212 has been paused.

Is there a way to go around this?

yinkaoke:
Very interesting however, If all this fact will come true next year with respect to Dangote's refinery coming aboard with subsidy removal . Please what are the implications for citizen so that we can better plan?

it is expected that foreign reserve will improve significantly
naira will strengthen
economy will open up with lots of employment from value chains
more tax for the government
more funding for infrastructure, security, health and education against the present high percentage going to recurrent expenditure and debt servicing

it will only need a good head in government to steer these. If a new government came in place and applied kalo kalo style of governance, then we are all doomed.

unite4real:


[s]it is expected that foreign reserve will improve significantly
naira will strengthen
economy will open up with lots of employment from value chains
more tax for the government
more funding for infrastructure, security, health and education against the present high percentage going to recurrent expenditure and debt servicing

it will only need a good head in government to steer these. If a new government came in place and applied kalo kalo style of governance, then we are all doomed[/s].

Trash!

You must be a student.

stevemims:
They'll get back to you! However, be ready to prove your residency in the country.

Alright

Tobex4realTobex234:


Trading212 is zero commission. Bamboo charges 0.5% commission if I recall.

Funding Bamboo directly via my USD card costs me about 3%. Trading 212 costs me 0.7%.

But Bamboo has some some stocks that 212 doesn't have so I never really left Bamboo entirely.

Hello,

Please what do you have to say about RiseVest?

unite4real:


it is expected that foreign reserve will improve significantly
naira will strengthen
economy will open up with lots of employment from value chains
more tax for the government
more funding for infrastructure, security, health and education against the present high percentage going to recurrent expenditure and debt servicing

it will only need a good head in government to steer these. If a new government came in place and applied kalo kalo style of governance, then we are all doomed.

I see things quite differently from your view...The Dangote refinery is a huge project but it'd take a while for the full effect to really be felt. Most of that will come from the value chain which would take time to build.

Looking at just facts,

First, Dangote took loans in usd abd he'd have to repay them in usd.... So yes while the project will help strengthen the naira, that might not be as massive as projected

Secondly, a removal of subsidy and subsequent increase in fuel price would immediately push our inflation rate which is well anove 10% up.

Third, talking about funds saved, as we've seen, they might not go to your listed sectors. Over the past decade, spending on security has gulped the majority of our budget and that spending has grown faster than other sectors for obvious reasons. With the current security situation, those extra funds might just go into buying more arms.

Fourth, unbeknown to most, the security situation has dealt a heavy blow to food production in Nigeria. Most parts of southern Kaduna, Niger e.t.c that produce most of our grains have been ravaged. Couple that with surrounding African nations now buying up certain grains from Nigeria due to our weakened currency. It might not seem obvious now as we're in harvest season but prices of food could get astronomically high next year which a removal of fuel subsidy will worsen.

Despite all said, I still believe subsidy removal is the best way to go and should have been done at least a decade ago. The long-term benefits outweigh the disadvantages

Tranquility2345:


Trash!

You must be a student.

You could be more civil in your words

jedisco:


I see things quite differently from your view...The Dangote refinery is a huge project but it'd take a while for the full effect to really be felt. Most of that will come from the value chain which would take time to build.

Looking at just facts,

First, Dangote took loans in usd abd he'd have to repay them in usd.... So yes while the project will help strengthen the naira, that might not be as massive as projected

Secondly, a removal of subsidy and subsequent increase in fuel price would immediately push our inflation rate which is well anove 10% up.

Third, talking about funds saved, as we've seen, they might not go to your listed sectors. Over the past decade, spending on security has gulped the majority of our budget and that spending has grown faster than other sectors for obvious reasons. With the current security situation, those extra funds might just go into buying more arms.

Fourth, unbeknown to most, the security situation has dealt a heavy blow to food production in Nigeria. Most parts of southern Kaduna, Niger e.t.c that produce most of our grains have been ravaged. Couple that with surrounding African nations now buying up certain grains from Nigeria due to our weakened currency. It might not seem obvious now as we're in harvest season but prices of food could get astronomically high next year which a removal of fuel subsidy will worsen.

Despite all said, I still believe subsidy removal is the best way to go and should have been done at least a decade ago. The long-term benefits outweigh the disadvantages

Thank you. Quite insightful

i was actually looking at it from a long term perspective. From reduction in import bills, from the amount of Trade Nigeria will create in the sub region, it will be huge but the political class will be a massive problem. We just need fiscal responsibility

jedisco:


You could be more civil in your words

Thank you. I chose to ignore him. We learn everyday. No one is an island of knowledge.

Some people are just bitter in their spirit actually and i am not one to make it worse

unite4real:


Thank you. Quite insightful

i was actually looking at it from a long term perspective. From reduction in import bills, from the amount of Trade Nigeria will create in the sub region, it will be huge but the political class will be a massive problem. We just need fiscal responsibility

The benefits will surely accrue.
Factually, it's not difficult to turn Nigeria around. The right decisions have to be made by the right people

jedisco:


The benefits will surely accrue.
Factually, it's not difficult to turn Nigeria around. The right decisions have to be made by the right people

Yes, AND... at the right time

Lets hope the right time occurs in our lifetime

mymadam:


Yes, AND... at the right time

We are in 2021 and this thread is already in 2024.

Mukah1234:


Sounds interesting! I currently use Bamboo. Tried signing up on Trading 212 but got error message “country not supported”, I changed my country of residence to another country but I got another response that new account opening on Trading 212 has been paused.

Is there a way to go around this?

Same here, I don't understand why they blocked off Nigeria. I tried Ghana and they asked for email. Issue would be when I'd need to verify I stay in Ghana which I don't

Chikebrain:

Same here, I don't understand why they blocked off Nigeria. I tried Ghana and they asked for email. Issue would be when I'd need to verify I stay in Ghana which I don't

They block Nigeria for many reasons which are obvious