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10 quotes that would help you invest better

10 quotes that would help you invest better
#Invest #Business

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International Investor, Here’s the easiest way to invest in your future 

Not everyone has the patience to read 640 pages of The Intelligent Investor by Benjamin Graham, or John Bogle’s The Little Book of Common Sense Investing. However, a great quote can trigger something in us that can push us to achieve great things or avoid what can ruin us.

I have been gathering quotes over the years and some of them have been guides for me in everyday life struggles, teaching me valuable lessons along the way. They touch different facets, ranging from investing to relationships, spirituality, etc. Below are my favourite quotes on investing:

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You never become wealthy by investing in savings

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G Allen

It doesn’t make sense leaving your money idle in a savings account, with the number of bank charges you will incur.

A huge chunk of your money should rather be invested in mutual funds and Treasury bills which are guaranteed to yield more for you through the power of compounding, rather than losing money by putting it in a savings account which offers little interest rate.

This article explains how to start investing in Treasury Bills, while this article explains how you can invest in mutual funds.

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Price follows value

“Price is what you pay, value is what you get, and in the long run, price follows value.” – Warren Buffett

The stock market will offer you a price on a given day which will depend on the market forces. But the value of that stock most times differs from the price at which you bought it.

The value of a stock, after you purchased it will be largely dependent on the performance of the management and the future profitability (future cashflows) of a given company.

Understanding the difference between price and value is valuable for any product or service, even beyond buying stocks.

Your spending habits can make you rich

“It’s not your salary that makes you rich, it’s your spending habits.” – Charles A Jaffe

Have you wondered why you end up broke just a week after getting your salary? Do you track your spending or follow through on a budget you set out for yourself? If you aren’t doing this, you will end up being poor.

Find a way to make money even when you are asleep

“If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffett

Try to put your money in various investment vehicles that would churn out profits, even while you are working to make more money for further investments.

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Invest in yourself

“An Investment in knowledge pays the best interest.” – Benjamin Franklin

How do you build knowledge? Read books, annual reports, articles, business journals and magazines. Interview and talk to people in industries and companies that intrigue you.

Patricia

[Read Also: 10 Actions That Can Make You a Successful Investor]

Do not let your income rise faster than your productivity

“Do not let your income rise faster than your productivity, because you’ll eventually become uncompetitive.

“Do all that you can to raise your productivity, because in the long run, that’s what matters the most.” – Ray Dalio

Start saving early and regularly

“Put time on your side. Start saving early and save regularly. Live modestly and don’t touch the money that’s been set aside.” – Burton G Malkiel

Should I save money with each paycheck?

No, just try to make more money. That is easier than saving money. I find that whenever I try to save money I end up spending more. I don’t know why that is. Better to just make more with many streams of income so you don’t have to worry about going broke. And then saving will come naturally as you make more money.

Don’t forget that a salary will never make you money. After taxes and daily grind, and your exhaustion and the feelings of “I hate my job” and then inflation and then new expenses (kids), you will never be able to save.

“I say it glibly, try to make more money. I know it’s not that easy. But in the long run, if you have a constant focus on alternative ways to make money, then you will.” – James Altucher

 

James Altucher on his criteria for investing in a company:

“Someone smarter than me is investing.

“Someone smarter than me is running the company.

“I don’t put my hard money to work unless the CEO has been there, done that, and knows what he is doing even in the worst-case scenario.

“Being a good investor is about eating what you kill.

“You only make money when you understand the world correctly and have the psychology to go against the norm.”

Learn to be disciplined

“Some people plan on being disciplined as soon as they achieve something that cannot be achieved without discipline.” – Makokoma Mokhonoana

This quote is really deep. It questions so many things. What am I doing presently with what I earn? How much am I saving or investing now with the little I earn? If I can’t be disciplined enough to save or invest at this stage, what gives me the assurance that I would do better with multimillions or billions?

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4 Comments

4 Comments

  1. Audrey

    April 8, 2019 at 10:34 pm

    U r doing a good job. Keep it up

  2. Irene

    April 13, 2019 at 10:55 pm

    Wonderful article! Truly insightful

  3. sagacious louis

    April 26, 2019 at 1:38 pm

    lovely and useful article

  4. Akwijoro Lewis

    June 10, 2019 at 6:38 pm

    Good for me. Came at the right time.
    Thanks.

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Coronavirus

Covid-19 Update in Nigeria

On the 30th of May 2020, 553 new confirmed cases and 12 deaths were recorded in Nigeria bringing the total confirmed cases recorded in the country to 9,855.

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COVID-19: FCMB reschedule operations

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to rise as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 9,855 confirmed cases.

On the 30th of May 2020, 553 new confirmed cases and 12 deaths were recorded in Nigeria.

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To date, 9855 cases have been confirmed, 2856 cases have been discharged and 273 deaths have been recorded in 35 states and the Federal Capital Territory having carried out 60,825 tests.

Covid-19 Case Updates- May 30th 2020

  • Total Number of Cases – 9,855
  • Total Number Discharged – 2,856
  • Total Deaths – 273
  • Total Tests Carried out – 60,825

The 553 new cases are reported from 15 states – Lagos (378), FCT (52), Delta (23), Edo (22), Rivers (14), Ogun (13), Kaduna (12), Kano (9), Borno (7), Katsina (6), Jigawa (5), Oyo (5), Yobe (3), Plateau (3), Osun (1).

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

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The latest numbers bring Lagos state total confirmed cases to 4755, followed by Kano (951), Abuja at 616, Katsina (364), Edo (284), Oyo (280), Borno (271), Jigawa (270), Ogun (259), Kaduna (244), Bauchi (236), Rivers (204), Gombe (156), Sokoto (116), Plateau (104).

Kwara State has recorded 87 cases, Delta (80), Zamfara (76), Nasarawa (62), Yobe (52), Akwa Ibom and Osun (45), Ebonyi (40), Adamawa (38), Imo (34), Kebbi (33), Niger (30), Ondo (25), Ekiti (20), Taraba and Enugu (18), Bayelsa (12), Anambra (11), Abia (10), Benue (7), while Kogi state has recorded 2 cases.

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, President Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

 

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READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

Patricia
DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
May 30, 2020985555327312285667267
May 29, 202093023872612269763447
May 28, 202089151822595259260647
May 27, 202087333892545250159787
May 26, 2020834427624916238557107
May 25, 202080682292337231155247
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Cryptocurrency

KPMG, PwC, Accenture prepare to become Crypto auditors

Big Four firms and other leading brands are working with several crypto and blockchain firms on ways to combat interoperability, regulatory challenges and development of the technology.

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KPMG, PwC, Blockchain technology expected to tackle Africa’s challenges across multiple industries

No doubt, the Blockchain technology, along with the adoption of cryptocurrencies, is getting bigger. The business end of the market is expected to reach $21 billion over the next five years.

Expectedly, professional services giants are now taking a larger role in tackling new challenges in the market, the Big Four firms and other leading brands are working with several crypto and blockchain firms on ways to combat interoperability, regulatory challenges and development of the technology.

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Henri Arslanian, PwC’s global crypto leader, told Cointelegraph that the Big Four firms majorly have a vital role in the advancement of the cryptocurrency ecosystem, saying:

“Although Bitcoin was designed with a trustless ideology, the reality is that the industry still requires trusted entities to catalyze the development of the ecosystem.”

READ ALSO: Positive outlook as Africa FinTech attracts over $100 million in investments

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Arslanian added that when he first joined PwC years back, few people took crypto seriously. However, he saw an increasing demand for crypto assets, with some businesses starting to accept Bitcoin payments from clients.

“Over the last couple of months, we’ve expanded our work. We recently closed the first-ever crypto fundraising deal at PwC, in which we led a $14 million Series A round for a Swiss-based crypto firm with Asian family offices. We are also the auditor for BC Group, a publicly listed crypto company in Hong Kong.”

BC Group CEO, Hugh Madden, also said that BC’s vision was to make use of crypto assets in Asia’s financial market. In turn, BC Group must set standards for compliance, security, and performance. Madden buttressed on the role of audits play by saying:

“Auditing, like regulatory clarity, provides confidence to all stakeholders that companies are operating transparently and adhering to expected industry standards. As the business of digital assets continues to grow and mature, and compliance and regulatory standards become more robust, auditors will continue to play a pivotal role.”

READ MORE: Blockchain technology expected to tackle Africa’s challenges across industries

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KPMG United States blockchain audit leader, Erich Braun, further contributed by saying that a business’s blockchain system should be developed with the intent to meet both accounting and operational needs to meet with accounting standards:

Patricia

“SEC issuers will want to design blockchain technologies to support the entity’s internal control over financial reporting. Being able to prove how these technologies achieve their aims in a well-controlled environment is critical to a successful blockchain strategy. If the technology is not auditable, the immense benefits it brings, such as increasing efficiencies and cutting costs, may not be realized.”

Henri Arslanian, added in his closing remarks that the Big Four firms are indeed the most important players for the crypto asset space. He said:

“I believe the Big Four firms will serve as the bridge between the crypto ecosystem and the institutional world. It is good for both the crypto ecosystem and for professional services firms like ours as a new source of clients that we can help.”

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What you need to know as banks rebrand CBN intervention funds to woo borrowers

CBN is releasing cheap funds to strategic sectors of the economy to hopefully restart the economy and possibly save the Nation from looming recession.

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LDR: Growing the real sector by fiat?, Rapid increase in food prices temporary – Emefiele, CBN and other industry stakeholders establish N1 billion Bankers’ Charitable Endowment Fund , How the CBN’s OMO restriction is affecting the market  , Nigerian economy to grow by 2.38% in Q4 - CBN, New CBN report shows Nigerians will reduce consumption of luxury items, Banks violating CBN’s directive on N50 charge on accounts, send contradictory messages, What is on Godwin Emefiele’s mind?, These CBN policies are contradictory and stifling on banks, What you need to know as Banks rebrand CBN intervention funds to woo borrowers, CBN extends timeframe for submission of audited financial statements by other financial institutions

If like me you follow Nigerian Banks across social media networks, then like me you must have rebroadcasted some of their colorful advertising telling the world of their low-interest loans to fight COVID- 19, and hopefully restart the economy. One thing you must have noticed, however, during those rebroadcasts is how highlights of the advertisements- rates, tenor, and target industries- are the same no matter the brand.

Well, that is because the Banks are all advertising the same product; CBN’s intervention funds.

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READ MOREL: El Rufai declares zero RoW charges for broadband infrastructure in Kaduna

What does that mean?

CBN in a bid to reclaim the economic frontiers already lost to the COVID- 19 pandemics is releasing cheap funds to strategic sectors of the economy to hopefully restart the economy and possibly save the Nation from looming recession.

In April 14, 2020, a press release by the CBN Governor titled “Turning the COVID- 19 tragedy into an opportunity for a new Nigeria”, he highlighted a three-phase approach to tackling the pandemic to include an immediate, short term and medium term timelines of 0-3months, 0-12months and 0-3 years respectively. Critical to these phases are different aspects of the economy that need to be tackled in each phase. These key sectors include the health sector, manufacturing, and infrastructure, while others include agriculture and power.

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(READ MORE: Covid-19: Timeline of every pronouncement made by Nigeria to support the economy)

To this end, the CBN has provided easily accessible loans to businesses in these sectors at below the market rate. These loans could either be overdrafts or long term loans that come with a moratorium, are accessible through the DMBs who assess the prospective borrower’s creditworthiness, and pass the same to the CBN for ratification and approval.

The intervention funds are placed in the following categories: Micro, Small, Medium Enterprises Development Fund (MSMEDF), Commercial Agric Credit Scheme (CACS), and the Real Sector Support Facility (RSSF) which funds the N100billion credit support intervention for the health sector.

All the loans are reasonably priced at 9% except for the health sector loans which are presently 5% and will revert to 9% in March of 2021.

READ ALSO: Debtors Africa in partnership with Proshare Launches Searchable Database on Delinquent Debtors and Report on NPLs

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Why the intervention?

Because the CBN believes that by accompanying these funds with the necessary policies and regulatory backings that they can revamp the Nigerian economy by fast-tracking the development of the Nigerian economy through these sectors. A move that will generate employment, diversify revenue base, provide input for the industrial sector and ultimately increase foreign exchange earnings.

Patricia

This is what the CBN is all about.

What’s in it for the Banks?

Apart from the obvious- a spread on the loan amount, commissions on transactions, and other ancillary charges, the Banks are also playing their roles in working towards a better economy where we can all thrive.

So, when next you come across such advertisements… tell the next person. Let’s build a better economy together.

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