How are all your investments performing?
Making money is easy, keeping it is another game, especially in the stock market.
Hello friends,
I had an interesting time since you last heard from me last Thursday. I can't share all the interesting happenings yet. However, as I mentioned in this tweet, the stories of today are often only told tomorrow. So stay with me for the long term and you will hear the stories later on.
What I must say though is to keep on reaching for the stars. Always look up and wonder about the magnificent universe that we live in. Always look within and ask what you can contribute. And Always look around and ask who you can make their day. Like clockwork, do all.
I published 2 new articles in the last week.
On davidalade.com - Considering A Career Switch? Here’s The First Thing To Know
On Wealth From Ground Up - You Are Not Free Until You Have Financial Freedom. True?
Let's get into the business of today. How are all your crypto, stock and other investments performing?
In 2020, the stock market boomed and the crypto market skyrocketed. I remember thinking at a point that if it can just continue for another x months, I should be sitting on some 10s of millions of Naira. Lol. Of course, it didn't take long before I woke up to reality and accepted that was never going to happen.
I've never believed in free lunch nor have I optimised for it. Work for the money and earn it. All things free often end in disaster. Ask those who put their money in Ponzi schemes.
2022 has been brutal in all ramifications so far. Nearly all assets are below their all-time high which means it is likely that you have a negative return on your investment today. Should you then stop investing? Absolutely, no.
What’s happening now is good. First of all to humble the high and haughty in spirit. To show that indeed investing is easy in the bull market. In 2020, it was easy to see why Shopify is the next best thing after Jollof rice and maybe it is. But the same Shopify today is trading at -60% from its all-time high. But where is the conviction to buy it again? Isn't it trading at a discount? Didn't Warren Buffet say be fearful when others are greedy and greedy when others are fearful? But where is your greed today?
All through the periods when assets were trading at all-time highs, I had a most recurring message, except you are ready to be an investor for a living, you are better off buying into an index (basket of assets) and facing your day job to become better, earn better and have leftover to invest. A better approach than picking stocks with no advantage or only to impress.
In praise of Index investing
The argument for investing is sound; everyone agrees with it. There is almost no debate about the importance of investing. What we tend to debate is often what to invest in. And on that, there’s one piece of investment advice that will not go out of fashion and doing it puts you ahead of nearly 80% of those who think they are smarter than you; Index investing.
I explained the rationale and justification in great detail here - How To Start Investing
3 Ideas To Challenge Your Mind
He is old, hence he must be wise is one of the stupidest notions we take for granted.
You need to accept the fact that rejections happen, that they are normal. Don’t take it to your heart, don’t try to figure out what that person is thinking. People are people, who know what goes into that mind of theirs.
It is not your job to understand everybody and adjust according to their needs. First, you need to understand and take care of yourself.
Things I am exploring right now
I saw an Indian Movie yesterday (can’t remember the title). Seeing the movie caused nostalgia for me. I realised that movies from different countries are simply a reflection of what their reality is or was. And unlike most American movies or even British movies, other countries still have some fundamental problems they are battling with. Just me thinking.
It's amazing how non-expensive it is to put a smile on someone's face. I walked past someone in the week who complimented another person’s sunshade. Both of them smiled. And I did. Apparently, 3 people got blessed by a simple act.
The biggest find on YouTube this week is this channel. He records all his calls with scammers and you will be surprised at what is going on. This version is scary. Be careful who you transact with online, they may be using you for laundering. -
