Ok I am going to do a trend on apps you can use to invest.
I will only recommend what I use
First off, don’t invest in what you have no knowledge of, thus DO NOT buy shares without understanding how shares work, or where your returns come from.
I did a nice webinar on this. This is the YouTube link
To buy shares you need a traditional broker or a FINTECH app. Most brokers today also have online trading platforms. The Nigerian Stock Exchange publishes a list of active stockbrokers on their site.
You can look through list and select a stockbroker. Look for customer service, and if you can trade remotely and all, since all your trades will be settled in same way to the CSCS
Pro: US based, but can accept local enrollments if you pass validation, “Free” trades can accept local currency.
Passfolio, I use to invest in the American market. Signup today and we'll each get up to $100 in free stock. Signup here passfolio.us/join?u=kalua
Trove
You can open an account in Naira as log as you pass validation. Local support staff by locals who understand the terrain, you also get a free share when you refer or open account.
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1. The price and the value of a stock are different
Price = how much you pay
Value = what stock is worth
Buy when Price < Value
Sell when Price > Value
The question in investing is determining the value
What is the value of a tree?
Fruits?
Cost of seed?
Value as firewood?
The price of a stock is forward looking.
It reflects the "vote" of investors. If investors believe the company will make more revenue and profit IN FUTURE, the price today will go up even if the company has no profits TODAY.
The stock market is a voting machine.
Over the long-term, the value of the company will reflect the earnings of the company.
Value and earning will correlate unless the company grows future revenues by
Acquisition
Internal reorganization to cut cost
External laws that favor company
1. educate yourself on how money works.....read about money, investing, budgets, etc.
.
2. calculate how much cash you have to pay bills if you lose your job, get a figure in days/months. Have a plan to save/extend that figure as much as possible. for example, if you have just 1 week of "emergency funds" have a target to extend it to three months.
3. cut down on unnecessary spending, get a budget, stick to it.
4. Look for multiple sources of income, if you have 2 cars, start a private Uber, if you have a free boys quarters, rent it out, monetize your assets.
Chile is Capitalist ie free markets; target is equal opportunities
Venezuela is Socialist ie government controlled markets; target is equal outcomes
Chile is now richer than Venezuela who has probably the largest deposits of crude oil globally. Riches not based on crude oil.
NO government can create a job...ONLY the private sector can...all the government can do is redistribute .
Socialism has never made any nation rich, please note a capitalist nation can have an extensive social welfare programs eg Denmark, that does not make them Socialist.
"Socialist" government are governments that set prices eg for petrol, that own economic assets eg NNPC & even influence economic decisions like setting exchange rates for the economy.
The worst mixture is a Socialist government that is pursuing a welfare agenda like Venezuela