Dr. Tayo Oyedeji Profile picture
Founder/CEO at @overwoodng (https://t.co/KMwWnfGFVr) | Former corporate CEO & university professor | I help people manage their money.
akinlolu olugboji Profile picture Goodheart & 3 Ors. Profile picture chamambom Profile picture Naya_c Profile picture Story Teller Profile picture 159 added to My Authors
4 Aug
Yesterday, I spoke with a young Nigerian lady who loves fashion and is thinking about giving up her medical license to build a fashion design firm.

I told her to focus on medicine; fashion can wait.

I fear that I have started sounding like my father's generation of Africans.
The pressure to survive is so acute on our continent that passion becomes a secondary consideration in career choice.

it's difficult to "pursue your passion" on an empty stomach.

Survival first; then passion.
We don't have the luxury of a small $250,000 loan from our parents (Jeff Bezos) or an empty garage (Google) or even government food stamps.

Practicing medicine will meet her basic needs after which she can become the Ralph Lauren of Africa.
Read 3 tweets
22 Jul
Passion & business.

Does Zuckerberg have a passion for connecting people?

Does Bezos love books?

Is Dangote passionate about cement, sugar, and oil?

Is passion a prerequisite for entrepreneurship?
I don't know anyone who loves cement.

Zuckerberg is an introvert/nerd. He can't connect people in real life to save his life.

Bezos is an electrical engineer. He is not a book lover.

The requirement is a love for customers and value creation.

Passion is not required.
On the flip side, I am passionate about finance; helping people move out of poverty; and helping people grow their investments.

That passion drives me and my business, @Overwoodng

But I have built other businesses in profitable industries where I have absolutely zero passion.
Read 3 tweets
22 Jul
If I were starting out today with no income and low job prospects, I would:

1. Move to a rural area.
2. Learn to farm.
3. Leverage my relationship to a significant tract of land.
4. Try to build an agric business.

I don't know why more people don't consider this path.
I know 2 people who did it and have built huge businesses.

They are both in their early 30s. She is a comp sci grad based in Egbeda. He is in Ogbomoso.

Their businesses are each worth more than N200m.

It’s not a fantasy. Some smart young people are already doing it.
I can get the two of them to do a Zoom training session for those who are interested.

Send me a dm to signify your interest.
Read 3 tweets
10 Jul
Stock trading is NOT a game.

A young man recently committed suicide after losing $700k.

Platform owners are now buying bulletproof cars/windows because people who lost money are trying to kill them.

Be careful guys. Just buy an index or mutual fund.

Robinhood's gamelike interface and relative lack of educational features that are prominent on older platforms, mean there's real risk of MASSIVE losses for the platform's traders, who are about 31 years old on average.
I strongly believe that the goal of every investment is the return of capital NOT return on investment.

Let me reiterate: RETURN OF CAPITAL is more important than RETURN ON INVESTMENT.

Stock trading without proper training guarantees that your capital won't return. Be careful.
Read 3 tweets
4 Jul
5 things I wish I knew in my 20s:

1. Hard work always pays.
2. Treat people well regardless of their status.
3. Don't be afraid to take risks.
4. Most fights never yield dividends. Walk away.
5. Money comes via strategic work: not hard work alone, and definitely not by prayers.
Let's clarify point 5:

Prayer turns hearts away from dross towards the divine and meets needs.

But faith is not a business model.

The idea that faith/giving leads to wealth is a 20th-century mindset that is inaccurate.

Faith is important. But it's not a business model.
Point 5 again:

1. Develop a strategic plan for your life.
2. Work hard as if you will never pray.
3. Then pray.

I know people who just pray, fast, give to church, and have faith for "prosperity".

They are still praying, fasting, and sowing "seeds" in penury 20 years later.
Read 4 tweets
30 Jun
3 reasons most people should not trade/buy individual stock:

1. Skill: The NYSE lists about 3000 companies. Do you have the skill to analyze them?

Can you study their management reports?

Do you know why Moderna > Gilead?

Do you know why AT&T has a better moat than Verizon?
2. Time:

The best investment firms hire the best students from top schools and give them 10 to 20 companies to study 24/7/365.

These guys wake up, sleep, and dream a single category. Why do you think you can do a better job than them with your 1hour a week stock routine?
3. History.

Historically, the 24/7/365 analysts I mentioned in (2) actually underperform index funds and mutual funds in the long run.

IT IS VERY HARD to pick stock successfully.

Read 5 tweets
21 Jun
I hate networking!

I don't understand why it is necessary for career/business progress.

I really hate the idea of hanging out with someone just because they can help my business or career. I like my friends/family and would rather spend time with them.

Does that make me weird?
I remember interviewing for a CEO job and telling the panel that the weakest part of my CV for the job is networking.

I'd rather spend weekends at home than on a golf course with strangers I hope to convert to clients.

They offered me the job regardless and the business grew.
Networking is important. You can't grow a business without doing it.

I do it very well.

But it's a chore for me.

I literally hate it.
Read 4 tweets
18 Jun
5 things you should never buy on credit:

1. Mobile phone...you don't need 3 cameras
2. Fashion items...you don't need designer apparel.
3. Cars...credit is expensive.
4. A party...you don't have to make an impression.
5. Gadgets...you can live without it.

Pay cash or wait.
Forgot to add this:

6. Don't borrow money to impress chicks.
7. Don't borrow money to impress chicks.
8. Don't borrow money to impress chicks.
9. Don't borrow money to impress chicks.
10. Don't borrow money to impress chicks.
Apparently, "chick" is old-school.

Please feel free to replace it with:

11. Don't borrow money to impress:

"bae – babe - chica – diva – doll – foxy – gal – gurl – homegirl – LOLITA – queen bee – slay queen – sexy mama – shawty – Sheila – tail"

Thanks @urbandictionary
Read 3 tweets
17 Jun
Do you have a skill you can monetize to make a living?

Your job is not really yours: someone else holds the key

Do you have a skill that can independently make you money?

If your answer is NO, start building a monetizable skill immediately

Jobs are fickle; skills are eternal.
I am a banking officer.
That’s a good job. But what can you do with it if your bank collapses?

I am a customer/client service manager.
But can you find new customers?

What if you lose your job and need to start from scratch?

Skills can meet your needs when jobs die.
We all need skills we can monetize if life happens.

I am sure you know people who lost their jobs and became destitute within months.

Job security is a myth.

We all need skills that can help us thrive if things go sour on the job.
Read 3 tweets
16 Jun
Dark days: : a short thread.

I graduated from university in 1998 and couldn’t find a job for almost one year after graduation.

One day (in Nov 1999), I got so depressed that I went to the rooftop and cried and prayed and wept and...

That was the darkest days in my life.
I am not the hardest praying person in the world but that day I prayed so hard because I had no option.

I said:

God, I have failed at everything for one full year. Please give me some successes. Even if it’s a successful scrabble game, just help me be successful at something.
I don’t have any explanation for this:

But by Christmas 1999, I had 3 job offers:

1. Citizens Bank.
2. Standard Trust Bank.
3. Chartered Bank.

I accepted the offer at Citizens Bank, where I learned investment management and the rest, as they say, is history.
Read 5 tweets
7 Jun
If you’re interested in web development, learn:

1. HTML + CSS.

Then build your personal website.

2. Learn JavaScript.

Then build “tic tac toe”

3. Learn react + node.

And that’s it.

You can build Facebook, Twitter, and even a full banking app with this stack.
Tech built with the stack above:

1. PayPal
2. Netflix
3. LinkedIn
4. Uber
5. Groupon.

You will obviously need other specialized skills but html+ JavaScript + node stack can build amazing things.
This is obviously simplified.

But the message is simple.

Start small. Build something.

Then keep growing.
Read 11 tweets
2 Jun
Financial checkup: 10 questions to diagnose your financial health.

Dr. Tayo is in the House.

Q 1:

Do you possess any complex, rare, or valuable skill?
Q2: Do you ever earned an income (apart from your salary) from your skill or other abilities?
Read 16 tweets
15 May
We should modify our 2020 goals to 2 key objectives:

1. Survive the pandemic.
2. Prepare to take advantage of a post-COVID world.

Here's a short thread on Goal 2:

5 ways to take advantage of a post-COVID world.
1. Projects > certificates.
Do something; don't just learn something.

2. Physical proximity advantages will diminish.
My nephew just got a tutoring job in the US (he is not American). Apply widely.

3. Tech will become more important.
Become a skillful maker or user.
4. New business opportunities will emerge.
Keep your ears to the ground.

5. There will be a lot of distress/going-out-of-business sales.
This is sad but depressions always favor cash-rich people so you should save and prepare to take advantage.
Read 3 tweets
5 May
The most radical mission statement in the world is that of @gatesfoundation - “every life has equal value.”

Today, a terrorist/plague has to kill 1,000 Africans to gain the notoriety of one that kills 1 American.

1,000 Africans = 1 American.

Gates fdn says:

1 = 1

Bill Gates is not a Christian, but his foundation is the most Christ-like entity in the world today.
My dad and his @Rotary colleagues spent years trying to eradicate polio from Northen Nigeria, and sadly failed.

@gatesfoundation pulled it off a couple of years ago without making noise or prancing in front of a camera.

@BillGates and @melindagates are the real deal.
Read 5 tweets
2 May
My investment philosophy:

1. Do NOT lose money.
2. Principal protection is more important than returns.
3. NEVER invest in a model you do not understand.
4. It’s a marathon; not a sprint.
5. Diversify, diversify, diversify!!!

That's the philosophy that also guides @Overwoodng
I am a VERY conservative investor.

Aggressive investors will disagree with my philosophy, and that's ok.

I happily make slightly lower returns in exchange for lower risks.

It's my viewpoint. Please feel free to share yours.
That's why I don't invest in:

- Forex trading
- Cryptocurrencies
- Options
- Index futures
- Early-stage startups etc.

High volatility; high risk. Not my game.
Read 3 tweets
29 Apr
Q: Can money buy happiness?

A: Yes.

How? See the THREAD for details.
Research shows that money makes you happy and you generally get happier with more money until you reach about $80,000 per year after which diminishing returns seem to kick in.

The sweet point for money/happiness is around $80,000 per year.
The poor worry about the basics of life.
- Food
- Rent
- Clothing
- Good education
- Sanitary environment

Rich people also have problems:
- Depression
- Loneliness
- Poor relationships
- Envy

Different folks, different strokes.

Read 9 tweets
19 Apr
A simple answer to a complex question?

Is it my business if a senior member of my team has a consensual relationship with a subordinate?

Let's use equity theory of motivation as a framework.

- A thread.
Please watch this to set the stage for the discussion.

The most important motivation element in a corporation is the "perception" of equity. Everyone must feel that they are being treated fairly otherwise they won't give their best.

The management of that perception is a key role for the CEO.
Read 8 tweets
19 Apr
A simple answer to a complex question.

- Does character matter in leadership?
- Can a bad person be a good leader?

Meet Steve Jobs.

Steve Jobs denied paternity of his daughter, Lisa, for years.

She and her mother were so poor that they ended up living on welfare despite the fact that Jobs was a billionaire.

He just didn't want anything to do with her despite a DNA test proving his paternity.
While working at Atari, Steve Jobs recruited Wozniak (his friend) to help build a scaled-down version of Pong.

There was a big bonus involved in the project so Steve Jobs LIED about how much money was involved and pocketed the majority of the money for himself.
Read 9 tweets
17 Apr
The research is now conclusive. The novel coronavirus struggles with heat and humidity.

Good news (temporal respite) for the northern hemisphere (Europe/North America) and most of sub-Saharan Africa.

Very bad news for the southern hemisphere.

The lockdown in most parts of Africa is a joke.

I have seen enough videos and pictures to conclude that the reason half of Lagos/Accra/Nairobi is not dead is because of the lower transmissibility in high temp rather than our feeble attempts at a lockdown.

Weather is destiny!
I have stepped out of my house ONLY 3 times in the last month because of the crazy transmission rates in this cold weather.

Most people are still moving around in Africa and the infection rate is just a small fraction of the one here despite our (US) strict lockdown procedures.
Read 4 tweets
14 Apr
Why I am finally hopeful about this evil virus.

- A thread
1. The virus seems to struggle with heat and humidity.
2. The virus spread will not STOP in the coming summer months but it will diminish significantly in the Northern Hemisphere while the Southern Hemisphere will be screwed.

South Africa, Brazil, Australia, etc will probably experience a tough July, August, September.
Read 7 tweets
9 Apr
It is well with my soul.

Horatio Stafford was a successful Chicago lawyer with a thriving practice but the center of life was his family - Anna (wife), and 5 children (4 girls and a boy).

He was also a devoted Christian.
Unfortunately, his only son died in 1870 and the Great Chicago Fire of 1871 burned down his law office and business.

He started over soon afterward and gradually rebuilt his thriving law business until the 1873 recession wiped out his business again.
Read 9 tweets