The Nigerian stock market can apparently make one rich or poor overnight, my first experience with NGX was a good one, before I started investing I did my research thoroughly, asked questions and got to understand different types of stocks and how they behave at different seasons. I didn’t pay much attention to US stocks but I bought some shares from the EV companies and it did well a little. Before buying my first stock shares which was BUA Cement, I made sure to carry my friends along, cause I don’t want to make it alone, we bought shares and within 2 weeks we made 50% profit of our capitals which was massive; and as a short term investors I advised them all to sell and take profits; at that period NGX was at it peak and on bullish run. They listen and wait for me to drop information before any investment takes place, but something happened and things took turns against us, not that bad but was bad for those who despise the power of liquidity; one thing I told all my friends is “not to invest all the cash you have, save some and invest some”. But those who did otherwise are paying for their mistakes till today.
I start investing in stock market this year and it has been to my advantage and starting from next year I will turn to long term investor.
I can boldly say that stock market made me and some of my friends rich this year and others it made poor.
My advice to newbie’s in the stock market is to invest wisely and remove emotions while investing.
Thank you and have a great day.
