Grupo:
Barrytone (RayRay06677),

Hope you don't have your money trapped in MBA?

I have 2m there, all is fair in war

emmanuelewumi:



He is aware of the risks involved

Very aware and cool about it, something's can't be changed, we live with it

OgogoroFreak:
Also lodge your complaint on the banks Twitter account. Post your complaint on their wall for all to see also cc CBN. If public eyes are on your case, they'll act fast.

MBA Forex is crashing...

Ponzi schemes usually crash few weeks to Christmas

Akin3891:
Jeez. Bitc.oin is on fire. Anybody tapping into this free wealth creation ? Thought joining the train at 10k usd was late, now almost 17k, what a great miss.

Hope you've locked in some profits? It's been on a rip.
I plan on moving a good amount into cash in the coming days and using a good stop loss for the rest.

A significant pullback is around the corner and it usually happens when everyone thinks it's heading to the moon.

tolajay:
I'm hitting myself right now.

Took positions when it was at 9k. Was hesitant to increase it at 10k. A friend kept compelling to increase my portfolio, I no hear.

But the time it hit 15K earlier this month, I felt bad, knowing I could have increased my stakes by 50%. Yet, my guy say make I still buy but I no gree.

Just yesterday, I checked preev, it was around 16k, today it's not almost at 17k.

Analysts say it might get up to 20/21k before January.

Hehe.... No need to worry yourself. You got in at a good time. There's always another buying opportunity. I'd advise you keep your cash in hand and look towards locking in profits. A significant buy opportunity should come within the next 1-5 weeks, you want to be ready for that.


I believe the real party starts next year.... But we're at a zone where smart money or people who bought largely at 4k and 9k will be dumping their bags on new entrants who believe it's going to the moon. It's very unlikely to cross 19-20k without significant blood first... When every analyst starts telling you it's going to 20k, you can be certain it'd likely do the opposite.

You don't want to give your profits back to the market. Nothing feels better than selling your bags after a good profit and buying lower. It's impossible to time the top so it's always worth taking profits after a significant run up except you're in it for the very long term. But even at that, you also want to compound your profits.

tempest12:


Exactly, you win some, you lose some.... To be rich means taking high risk most times. And making up some loses if any. So even if MBA crashes, is normal cos nothing last for ever.

Successful businesses loses and still make up for the loses

The sophisticated investors that invest in Hedge Funds have lots of cash and are aware of the huge risks involved in hedge fund investments. They go in with knowledge after due diligence on the fund managers and their operations.

Only foolish investors put their money in Ponzi schemes with no real/known underlying business and owners dressed in shiny suits that blow big big grammar to deceive gullible unsophisticated investors to throw away their hard earned money without carrying out the necessary due diligence. That is not risk taking but stupidity.

Latecomers to the NSE tea party should get ready for their own tears and sorrow. Smart Speculators that got in on time are just rubbing their hands and waiting for the right time to strike .

Where do you buy at $9k and how do you sell at $17k?
The last time I checked when bitcoin crashed it was selling at N450 per 0.00001 unit or so, that means if you buy One million units, you will pay N4,500,000 for one whole bitcoin, now bitcoin is selling at N470 if you sell to trusted Nigerians here, where/who do you then sell to make $17,000 for one whole bitcoin?

jedisco:


Hehe.... No need to worry yourself. You got in at a good time. There's always another buying opportunity. I'd advise you keep your cash in hand and look towards locking in profits. A significant buy opportunity should come within the next 1-5 weeks, you want to be ready for that.


I believe the real party starts next year.... But we're at a zone where smart money or people who bought largely at 4k and 9k will be dumping their bags on new entrants who believe it's going to the moon. It's very unlikely to cross 19-20k without significant blood first... When every analyst starts telling you it's going to 20k, you can be certain it'd likely do the opposite.

You don't want to give your profits back to the market. Nothing feels better than selling your bags after a good profit and buying lower. It's impossible to time the top so it's always worth taking profits after a significant run up except you're in it for the very long term. But even at that, you also want to compound your profits.

Comeandcollect:
Where do you buy at $9k and how do you sell at $17k?
The last time I checked when bitcoin crashed it was selling at N450 per 0.00001 unit or so, that means if you buy One million units, you will pay N4,500,000 for one whole bitcoin, now bitcoin is selling at N470 if you sell to trusted Nigerians here, where/who do you then sell to make $17,000 for one whole bitcoin?

I was referring to the levels or cost of 1 coin in USD... I prefer to track the price in USD as that's what everyone else relates to than Naira.
Of course, you can split it into much smaller units again, but it's the cost of a whole unit we're referring to

You can buy on exchanges listed above at much more better rates and less hassles and risks than resellers you find here. Bundle Africa is also another good budding platform.

emmanuelewumi:


Ponzi schemes usually crash few weeks to Christmas

Lol!

Hahaha

emmanuelewumi:



Ponzi schemes usually crash few weeks to Christmas

This is the right action to take instead of saying you dont want somebody to be sacked!

tracyorez:

Thanks for this info
I just sent a mail to first contact and copied cbn.i requested to know why the treasury bill I bought did not drop since September.
Let me start from there.

TransAtlanticEx:
Weyrey think say I go reply am
Mtcheew

Na still reply be this na!!!

Grupo:


Hmm. This sounds more like it. He might have used the money for MBA.

As it was in the beginning with Umana Umana and Forum MFB(It is the work of Forum) then MMM and now to MBA. Some things never change with Nigerians. Nigerians being scammed since 1914.

NL1960:


As it was in the beginning with Umana Umana and Forum MFB(It is the work of Forum) then MMM and now to MBA. Some things never change with Nigerians. Nigerians being scammed since 1914.

Our guy knew the risk involved before getting in. So he's safe.

Will the free-fall of the Naira stop till next year?

Quite a lot of things are hinged on the performance of the FX market.

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emmanuelewumi:



Ponzi schemes usually crash few weeks to Christmas

I laugh when people try to defend their involvement in a Ponzi scheme with the phrase ''just invest the amount you're willing to lose''.

Seriously? So some people really earmark a certain amount as what they're willing to lose. What exactly does that mean?

Even if I'm worth a billion naira, I'm not going to willingly put a million naira in what is clearly Ponzi!

They are just saying invest what you're willing to lose just to encourage and masturbate their greed to make quick profits. MOST Nigerians seems to have a very short memory and never learns from their past mistakes.

seyisanya:
I laugh when people try to defend their involvement in a Ponzi scheme with the phrase '' just invest the amount you're willing to lose''.

Seriously? So some people really earmark a certain amount as what they're willing to lose. What exactly does that mean?

Even if I'm worth a billion naira, I'm not going to willingly put a million naira in what is clearly Ponzi!

tolajay:
Will the free-fall of the Naira stop till next year?

Quite a lot of things are hinged on the performance of the FX market.

This freefall is very worrisome
The by product of leadership crisis

Treasury bills yield falls to -0.09.


https://nairametrics.com/2020/11/18/nigerian-treasury-bills-yield-falls-to-minus-0-09/

Olaide1295:
Treasury bills yield falls to -0.09.


https://nairametrics.com/2020/11/18/nigerian-treasury-bills-yield-falls-to-minus-0-09/

Ah! What's this? So if I buy, cbn will deduct from my capital rather than paying me interest?

tolajay:
Will the free-fall of the Naira stop till next year?

Quite a lot of things are hinged on the performance of the FX market.

Don't see the naira gaining value soon.

Some are losing while some are gaining, the free fall just increased my balance by N1m.

Assets in Naira will be mostly affected, anyone who made 30 percent in stock while the currency gets devauled at 29 percent practically only earned 1 percent interest.

DexterousOne:


This freefall is very worrisome
The by product of leadership crisis

TotoNaRubber:
Some are losing while some are gaining, the free fall just increased my balance by N1m.

Assets in Naira will be mostly affected, anyone who made 30 percent in stock while the currency gets devauled at 29 percent practically only earned 1 percent interest.

Which like I said
Is really worrisome

Grupo:


Ah! What's this? So if I buy, cbn will deduct from my capital rather than paying me interest?

Yes, You are basically paying CBN to help you keep your money at this point.
In a low T-bills regime, stocks should benefit.

From a macro perspective, crashing the rates may be good for the economy as less Naira is being produced. T-bills used to be free money for Nigerian banks.
The disadvantage is people will start to chase dollars with the Naira at hand

seyisanya:
I laugh when people try to defend their involvement in a Ponzi scheme with the phrase ''just invest the amount you're willing to lose''.

Seriously? So some people really earmark a certain amount as what they're willing to lose. What exactly does that mean?

Even if I'm worth a billion naira, I'm not going to willingly put a million naira in what is clearly Ponzi!

It is a game, they knew it would crash but they hope to cash out before the collapse. Some are lucky to cash out but 90% will eventually lose money