Speaker 1: Hey, good evening, folks. Welcome to another money space with
Speaker 1: me calu aja. Of course, on this space, we're talking money,
Speaker 1: the economy and finance, personal finance that is, and we're
Speaker 1: trying to make it personal to you. Some in a
Speaker 1: bit of a transit situation, so I said, hey, let's
Speaker 1: just start early. We're gonna do about two hours. If
Speaker 1: we are started by seven, you'd have been for an hours,
Speaker 1: So let's just get in quickly. This basically, like I said,
Speaker 1: is a space for you, folks. If you have those
Speaker 1: questions about investing, or you want to understand the concept
Speaker 1: maybe bonds, equities, or if you have a question really
Speaker 1: about planning and all that, this is a great, great,
Speaker 1: great time for you to ask and we'll try our
Speaker 1: best to sort of answer. I've got eliminated here as well,
Speaker 1: so you've got great content here, just to put it
Speaker 1: out there real quick, just to request or dm anyone works,
Speaker 1: just to also exercise. It's all educational, So nothing we
Speaker 1: say here is going to be an investment advice or
Speaker 1: should be construedors investment advice, no offers or being made
Speaker 1: to buy or sell. It's all education, not just to
Speaker 1: explain stuff to you. Guys, So I need to put
Speaker 1: that context out there, right, so shoot, the flow is yours.
Speaker 1: If you have a question, do request Before you guys
Speaker 1: do that, I'll just read out a few highlights of
Speaker 1: the week. I saw inflation, food inflation, headline. Inflation came
Speaker 1: down in Nigeria. Let me put it this way, the
Speaker 1: rate of growth slowed down in Nigeria, right, So that's
Speaker 1: that's promising. We need to see it happen as a
Speaker 1: trend line to least celebrated. But I thought I was
Speaker 1: news worth that the rate of growth for inflation, but
Speaker 1: for food and for the headline had slowed down a bit,
Speaker 1: So that was fantastic if we can keep that pace up.
Speaker 1: I'm not sure if it has to do with the
Speaker 1: guidelines on importation of food. I did see it, and
Speaker 1: I think it's all it's a different policy that they're chasing.
Speaker 1: I think what they are, what I saw in that
Speaker 1: guidelines for food has more to do with you are
Speaker 1: trying to do this the midterm of what the policies
Speaker 1: they're trying to say, let's boost local manufacturing, local million
Speaker 1: of food product. That's what that policy is. You're bringing
Speaker 1: in on HOSK grains, you're bringing the semi processed food
Speaker 1: to be processed in Nigeria. That's not really the policy
Speaker 1: that I needed right now. There's an immediate need for
Speaker 1: food to come in to reduce food prices. That can
Speaker 1: happen same with this other parts that they're chasing to say,
Speaker 1: we're going to bring in semi processed foods with process
Speaker 1: in Nigeria to increase value creation in Nigeria. That's a
Speaker 1: separate policy, but I think they are missing the immediate
Speaker 1: need of Nigeria's right now, which is food at the
Speaker 1: tables right now at the cheap price. Because once you
Speaker 1: do that, you able to achieve prices falling, and once
Speaker 1: prices fall, inflation falls, and then of course you don't
Speaker 1: get that should we say, reduction in overheating of the economy.
Speaker 1: You get inflation coming down even helps a NI rap
Speaker 1: prices fall and you gets a salary increase for everyone.
Speaker 1: So just to put that, put that out there a
Speaker 1: little bit higher. I see you on space Mutan and
Speaker 1: just muting yourself that we can go ahead of have
Speaker 1: a few dams already.
Speaker 2: L great to be on your shoe. Interesting conversations.
Speaker 3: Actually, it was just just to add two spices already
Speaker 3: put in.
Speaker 2: I think it's also been.
Speaker 3: An except exciting and eventful week in your market. You know,
Speaker 3: the much talked about you know kick this week, we
Speaker 3: had some around it and just breaking your is that
Speaker 3: the charpaitizing director. So the worses that about to billon
Speaker 3: dollars will be raised, that's the plan.
Speaker 2: Also we look at the banks. We saw that the
Speaker 2: banks were really picking.
Speaker 1: Up from uh July.
Speaker 3: Lows, particularity first UB and other systemic panks.
Speaker 2: But you know the gt SK the.
Speaker 3: Act that was supposed to be that was called the act,
Speaker 3: but the banks was in the act.
Speaker 2: Was the doing issue. I think he pattered.
Speaker 3: So much posts in the on social media, but the
Speaker 3: stock presently has he yet to date.
Speaker 2: Again of more than thirteen percent.
Speaker 4: It's the best performing bank stock.
Speaker 2: Uh. The result AMANDU stowing down after running so fast
Speaker 2: it would looked like it was going to put the dinner.
Speaker 3: He had to come back down as well as petty
Speaker 3: le plus before eating apples.
Speaker 2: To define so they started room right.
Speaker 1: Now with you was bigger.
Speaker 3: We're seeing the fact that also dinners to have settled
Speaker 3: betweenty one thousand and five fifty and what so Yeah,
Speaker 3: just to put the serving. I think what the market
Speaker 3: has seen this week is that the physical ancessity also
Speaker 3: explained a key role of the market inficially reported didn't
Speaker 3: to go to world with manufacturing and consumers tables, just
Speaker 3: by the fact that in moortuation you rest still believe
Speaker 3: that it's still pretty much high for these bottom nine
Speaker 3: companies to make it different.
Speaker 2: So that's some you know see it?
Speaker 1: Well, no, no, that's let's let's do let's do that
Speaker 1: GT Bank issue quickly. So there was like an issue
Speaker 1: with their online banking. I saw online people said it
Speaker 1: was it was a was a hack, and I think
Speaker 1: I saw a telecom paper come out and say, what's
Speaker 1: in a hack? That they didn't pay on time? The
Speaker 1: letter I saw a guy still not only paid on time,
Speaker 1: it's not our hat, but they paid on time. So
Speaker 1: I mean, for me as an infestor broad strokes, does
Speaker 1: this have any effect on the bank stock? Should I
Speaker 1: be worried about my deposit in that bank?
Speaker 2: So look at the price.
Speaker 3: Actually what the market is saying, not from our perspective,
Speaker 3: what the market was saying. The markets pretty much didn't
Speaker 3: take it too much and out for many reasons.
Speaker 2: If you look at what happened when the way for
Speaker 2: that came into play.
Speaker 3: The market aggressively felt that that was going to eat
Speaker 3: the bank spot of land you know, some word for that,
Speaker 3: you know, you know how e FX is played a
Speaker 3: major role knowing for the world that the Nigerian economy
Speaker 3: is not giving the banks.
Speaker 2: Their core march is busy.
Speaker 3: I'm talking of lends, lending, you know, so the wind
Speaker 3: for that's had his stronger effect. But if you look
Speaker 3: at the case of the art acrevention, first people say the.
Speaker 2: Users answers to their albs. It's created definitely created.
Speaker 3: Suppose around the fact that the bank can't take hold
Speaker 3: of their domain. And yeah, concerts, but now customers that
Speaker 3: was bridged according to the bank.
Speaker 2: And I think I used the bank.
Speaker 3: And if you look at the stock, like you mentioned,
Speaker 3: I was looking at the forty five mark and it
Speaker 3: is a very interesting stock.
Speaker 2: For those that don't really understand the stock.
Speaker 3: This is the most valuable bank in the country, has
Speaker 3: the market a couple.
Speaker 4: Of one point five trillions there.
Speaker 2: He also has systemic players. This stock is exposed in.
Speaker 3: The London Stock Exchange vi GTR, so we have investments
Speaker 3: that are not the shaky guys like depending on.
Speaker 2: We doing the stuff. So it was very normal for
Speaker 2: us not to see.
Speaker 3: A reaction social media from who at the normal At
Speaker 3: the normal.
Speaker 2: Mark like the United States, you're going to see a reaction.
Speaker 5: The difference between that just decided that you have stock
Speaker 5: market is that we have over.
Speaker 3: One fifteen million Americas actively or passively exposed with the
Speaker 3: stock market.
Speaker 2: Makes it very efficient in Nigeria.
Speaker 3: Last yes, yes, data said that we have all a
Speaker 3: thousand active accounts that two party level this year maybe
Speaker 3: double so Calu, we see the difference that we have
Speaker 3: with strong bias.
Speaker 2: So yeah, the market should have reacted maybe if it was.
Speaker 6: I think the big point is that.
Speaker 2: This is not something that would telling.
Speaker 1: About gotcha only bit overall like another querson, I get
Speaker 1: this overall the windfall tax that is going to be
Speaker 1: applied to nigerm banks, is that going to be I
Speaker 1: mean net systematic negative to the Nigerian banking off us?
Speaker 1: I mean we have Is that going to be an
Speaker 1: issue that there's going to be a one time tax
Speaker 1: and get just to explain, this is a tax or
Speaker 1: realized profits, so the bank does not realize those effects
Speaker 1: gainst they don't pay any tracks. Is that going to
Speaker 1: be a problem overall.
Speaker 2: Galuative big problem in fact the issue.
Speaker 3: Honestly, that's why when the news came out first, because
Speaker 3: just for this stastic I'm exposed to all the distant
Speaker 3: banks nager I try them not just for investment purposes,
Speaker 3: but because I write lives, so I tried to understand
Speaker 3: the top. So when the news came out, we didn't
Speaker 3: two weeks my banking stock portfolio was down by more
Speaker 3: than fifteen percent. And if you look at ub at
Speaker 3: first Pack at that time, they were going to sure
Speaker 3: at some point you be a dropped blue That tells
Speaker 3: you how I.
Speaker 2: How the new scheme had on bank vestors.
Speaker 3: For me, I don't see why that come to like
Speaker 3: do some banks came to bed If you look at
Speaker 3: first Bank, some put first Bank.
Speaker 2: Posting FX cluses for a while.
Speaker 3: So he don't it don't seem to be exposed to
Speaker 3: that being for that and that was why pretty that
Speaker 3: was why pa I said that that I was in
Speaker 3: support because he understands the banks balance and when they
Speaker 3: are closures. But for a bank like you is an
Speaker 3: ergity definitely to be a concern you when.
Speaker 2: You look at as the results it was definitely a concern.
Speaker 3: So it's really hit they put on banks, and that's
Speaker 3: why at some.
Speaker 2: Point the bark in the text was the worst performing
Speaker 2: this year.
Speaker 3: So at disappoint like you said, I perform fidating that
Speaker 3: really surprise.
Speaker 2: The market started their producer long before many banks. They
Speaker 2: were actually the first. So the fact that they raised
Speaker 2: their phones beyond back expectation that was implosed. But when
Speaker 2: you hate a.
Speaker 3: Bank like assets bank accent take for extension.
Speaker 2: Using the sqs of unrest, you know that there's more to.
Speaker 3: That mystic high So I think definitely it has an
Speaker 3: impact on recaptiation plan the future ending.
Speaker 2: So despite the fact that we have some of the.
Speaker 3: RODS supports, you know, the optics around capping banks in
Speaker 3: the era CRRs for five percent where the industry is everywhere,
Speaker 3: did know something restors to clear?
Speaker 1: Yeah. So I mean the point again is then again again,
Speaker 1: if I'm raising, if I'm raising money, or if I
Speaker 1: want to invest in the bank, I look at two
Speaker 1: questions and I ask myself the money the bank is raising,
Speaker 1: is it going to go into existing structure? I will
Speaker 1: my money allowed the bank to raise more earnings or
Speaker 1: will my money create the base for the bank to
Speaker 1: earn more. Should we say more? And so for instance,
Speaker 1: if I was bank eight, if I give them money,
Speaker 1: they're gonna buy more branches and they're gonna buy more ATMs,
Speaker 1: which allowing them to make more money. Or am I
Speaker 1: giving them money for already established branches in case my
Speaker 1: phone's going to use their cost of capital? Let me
Speaker 1: ask a question rightly, if they raise, if they tax them,
Speaker 1: now that's a tax in twenty twenty three, twenty four,
Speaker 1: does that imply that going forward that affects my bank's
Speaker 1: abiled to make ending This is a one time thing.
Speaker 1: There's a one time tax, but the income was also
Speaker 1: one time. I don't know if you get my question.
Speaker 1: The income is one time, the taxes one time. Doesn't
Speaker 1: that even it out? And then we look at anything's
Speaker 1: going forward without this tax questionable.
Speaker 2: Because it's not into law.
Speaker 3: Ye, there's twos some stoppers around Thebut and listen to
Speaker 3: a large parallel on the group of FSB and I've
Speaker 3: seen specially of different reports. They're saying that you actually
Speaker 3: start next year, that the Senates and the fact that
Speaker 3: that next year.
Speaker 2: Use the format that it seems to be unfair you
Speaker 2: don't really look use like you said, definitely have an effect.
Speaker 3: You look at senate objective. Senate objective is an expansion.
Speaker 3: They're talking about expanding a branding barrier in France because
Speaker 3: of the facle phone countries like CAMEROONA to goal, so
Speaker 3: they're looking at markets other spaceially look at GITT also,
Speaker 3: this is also looking at expansion through the IT infrastructure.
Speaker 3: They're looking at also bringing new businesses to their bottom line.
Speaker 2: But for me to be honest with you, because our
Speaker 2: own g T for many years now and GIT already
Speaker 2: goes beyond there. So usually what I do is that
Speaker 2: when I c GT between the.
Speaker 3: Price is traded and at the prices I resually itself
Speaker 3: have wait followers. So in ndender as displaying them, it
Speaker 3: hasn't happened back to come to benest with you. But
Speaker 3: if you look at their two banks a f c MP,
Speaker 3: we look at bidity, you look at telling. These banks
Speaker 3: often time have been able to generate more al fast
Speaker 3: than the one banks and that's.
Speaker 2: Because there's so much from to grow and you know
Speaker 2: they're really experienced from many.
Speaker 3: So look at for example, they're expanding getting cauto credits
Speaker 3: from bests expanding to medium skill businesses and field entrepreneurs
Speaker 3: trying to put in export business to that line tho,
Speaker 3: just to.
Speaker 2: Create in which that space. You also look at starting
Speaker 2: look at the first tructure around the it.
Speaker 3: These banks we can really pick, but I think what
Speaker 3: the dur is like at some point with the government
Speaker 3: looks like harming on.
Speaker 2: The parking industry.
Speaker 1: It feels that they wanted to merge.
Speaker 2: It seems like you look at what is happening.
Speaker 1: The Providos are unity government deal right, but remember a
Speaker 1: long time of this rumor that Providence was going to
Speaker 1: feel or going to feel and the we are let
Speaker 1: them feel like. It's like, what's happening now that receiving
Speaker 1: is preventing the backstop. So if I'm an investor, I
Speaker 1: know that the siping is providing equity into those banks
Speaker 1: so I can buy. It's not that that's what's happening
Speaker 1: to those banks to give it the capital to your
Speaker 1: won't feel before you go too far. I just want
Speaker 1: to clarify the FNBC. You said only ten percent of
Speaker 1: the banks for X games H. So this point that
Speaker 1: iterates tax, which means you've got to literally a lie
Speaker 1: that tax. So if the naira gets if gets strung,
Speaker 1: that tax upon falling and Narra goes to say two
Speaker 1: hundred to moller, the tax keeps on with U sain
Speaker 1: right there. So the number maybe you realize that game.
Speaker 1: So what I mean is this, if you bought your
Speaker 1: dollar at a thousand and the dollar was twelve hundred,
Speaker 1: that two hundred dollars naira is what they're taxing. So
Speaker 1: in effect, if that becomes one thousand, the tax evaporates more.
Speaker 1: Or let's just want to make that put that point
Speaker 1: out there very true. Okay, let's let's get zero in
Speaker 1: here that maybe he has a question that we'll come
Speaker 1: back to them the zero equipment you've got the floor, Yeah,
Speaker 1: I can hear you.
Speaker 2: Okay, this my.
Speaker 6: I'm just going to talk about bones because it's.
Speaker 4: On the topic.
Speaker 6: Is like just the white like you're sharing my tots
Speaker 6: on it. I think any investor here listening would be
Speaker 6: before you shoe would would might might want to get
Speaker 6: more fixed income into but too, equities are good, but
Speaker 6: that's like a long term play. Why because well, the
Speaker 6: fundamentals that should support.
Speaker 2: Equity companies listen on the market still are around as as.
Speaker 6: As solid as I would like to see and even
Speaker 6: though their companies are driving just some maple headings.
Speaker 1: What what what fix it come?
Speaker 2: Do you like?
Speaker 1: Now we have the dollar fixed income, we have the
Speaker 1: narrow fixic com which won't you like?
Speaker 7: Especially I like food, actually I like good.
Speaker 6: I like dollar, but because well the narror is easier
Speaker 6: to get into MP the dollar, I think it's thanky
Speaker 6: to minimum.
Speaker 2: So that's mostly for and you know people.
Speaker 1: Yeah, so just to qualify to put for listen. In
Speaker 1: Nigeria wants to issue a dollar denominated bond, first time
Speaker 1: in the Nigera's history. We have Euro bonds, but those
Speaker 1: are dollar dominated outside Nigeria. This is going to be
Speaker 1: a dollar issue debt in Nigeria, meaning if you have
Speaker 1: dollar in Nigeria, you can take your dollar to the
Speaker 1: bank and buy a dollar bond and you get dollar dividends.
Speaker 1: So in effect, dollar rise in quote the niger investment space.
Speaker 1: But please go ahead.
Speaker 6: Yeah, so I like the US bond for obvious reasons
Speaker 6: because if I had tank, if I was I mean
Speaker 6: as age and I lying around or just like say,
Speaker 6: I'm saving it in my dum account, it makes sense for.
Speaker 7: Me to.
Speaker 2: From my point of you, to put it in the
Speaker 2: dollar bment. You know at least two generalium income.
Speaker 1: That's the attraction, right, that's the attraction.
Speaker 4: Yeah, but also concerned that I do have.
Speaker 8: So I don't want anyone here thinking that I'm.
Speaker 6: Just saying the novice and they're seteen concerns. Number one
Speaker 6: perception and trust.
Speaker 7: I think in this five hundred dollars is wing like you.
Speaker 6: Need to settle the engineents to key into it. Besides yeah,
Speaker 6: agianized and corporations locally, and because that's someone in the US,
Speaker 6: for example, if she looks at the US treasuries and
Speaker 6: looks at US bonds, you bones should be higher.
Speaker 2: So it's almost like the same thing. But just as
Speaker 2: a favor or any more attractives.
Speaker 1: I mean, make make it, make its plain. If you
Speaker 1: invest in in the US bond today you get three
Speaker 1: to four percent, but it's guaranteed and the US would
Speaker 1: not default to the US do not cancel their bond.
Speaker 1: I think the fear I've heard for before asking me
Speaker 1: questions calo with Nigeria, pay calu with. They say you're
Speaker 1: going to bring up everybody is scared that the government
Speaker 1: will come to tomorrow and bring one new law and
Speaker 1: this is the problem with this rule of law. When
Speaker 1: we say rule of law the government, it comes across us.
Speaker 1: They might wake up tomorrow and say, Okay, all these
Speaker 1: dollar you guys have invested were going to tax it.
Speaker 1: And that's the problem with going back to do retroactive
Speaker 1: or one sided policy that people don't trust you. They
Speaker 1: invest the dollar bond, you might comfort tomorrow and say, hey,
Speaker 1: dollar interest is going to be taxed. I don't know,
Speaker 1: but yeah, that's.
Speaker 9: What I kept about because it was like, if you
Speaker 9: look at the lower yeah I have I have exposure
Speaker 9: and governments bonds and pretty much because.
Speaker 2: I got them. A feather a leg says now I
Speaker 2: was going to two thousand and two. I think the
Speaker 2: series bond was giving it to twenty pizen. My objective
Speaker 2: tam was just to read min applications.
Speaker 3: Back home, So I think you see the question for
Speaker 3: me is like the go for example, looking at their
Speaker 3: palance sheet and looking at yeah it has it's a
Speaker 3: good concept, good but like you said, it's very it's
Speaker 3: easy for the government to pay back to there, but
Speaker 3: in dollars.
Speaker 2: That's another bobbing for me.
Speaker 3: So if I'm going to be exposed to I'm going
Speaker 3: to be very very conscious to do.
Speaker 2: You know, I look at what my hero account is
Speaker 2: giving me.
Speaker 7: First, I'm getting.
Speaker 3: Two pointed seven per year. I'm looking at water Backleazy
Speaker 3: is giving me. I'm getting about three percent. So it
Speaker 3: looks like it felty because it decaid it's going to
Speaker 3: be packed around the ero board yield. And when you
Speaker 3: look at what he take, that's around.
Speaker 2: Like nine percent.
Speaker 3: But the question is, just like you said, the compiles,
Speaker 3: the rule of law, the application, the the.
Speaker 1: Environmental Let's let's dive deeper into this, right, if Nigeria
Speaker 1: bruise a dollar, how do they pay a dollar? It's
Speaker 1: going to be from oil sales. It's going to be
Speaker 1: from because now it's not remutans. They don't own remitan,
Speaker 1: So it's going to be oil sales and exports. It's
Speaker 1: not going to be an NPC Okay. So so essentially
Speaker 1: saying that if we if you buy a bond, they
Speaker 1: repaymentally come from oil and non oil exports. We can't
Speaker 1: do remittances or sales, right, we can't because and we've
Speaker 1: taken most of the oil to to n n p
Speaker 1: s and NPC is now has sort of borrowed forward
Speaker 1: sales of crude oil, so Ford seas of crude oil
Speaker 1: to affects in bank is happening. We also have forward
Speaker 1: swaps with JP Morgan and City Bank already happening. So
Speaker 1: the fallage that we haven't paid trip point five billion
Speaker 1: dos haven't paid. So essentially, I really want to see
Speaker 1: the is he a ring fenced effects we've seen this
Speaker 1: ring fenced effects? Or are we refinancing the obligations with
Speaker 1: this dollar bond, in which case we're refinancing maybe the NNPC,
Speaker 1: the whatever with this dollar bond to reduce the cost.
Speaker 1: So but if you say that you already said we're
Speaker 1: boring at Euro if are born at Euro, there's it's
Speaker 1: not a It's not a refinancing, is it. So I'm
Speaker 1: getting let's see the paper. But I'm not saying, man,
Speaker 1: it looks h I like it. I liked I like
Speaker 1: the concept that I get that we do it because
Speaker 1: ben A Republic just beside us. Better Republic launched a
Speaker 1: five hundred million dollar bond and it was oversubscribed, and
Speaker 1: of course Benner is targeting Nigerian investors. The target is
Speaker 1: there's about ten to twenty billion dollars sitting in dorm
Speaker 1: account doing nothing. So I think rather than just keep
Speaker 1: the ten people did the ideas that they can entice
Speaker 1: them account to do. It means you bring out ten
Speaker 1: percent and you're invested in the love bond. They've made
Speaker 1: their money in the lock bond.
Speaker 2: Right, what talk is that big boys now or usually
Speaker 2: a dollar's particularly in the investment markets.
Speaker 7: So if you look at nows to, look at Sparmig, look.
Speaker 2: At because I've been able to do my sorgy.
Speaker 3: If you look at the good of stam gig asset management,
Speaker 3: the dollar dollar exposure.
Speaker 2: Did so much different.
Speaker 3: They increased to the rates you get, for example, with
Speaker 3: investing dollar moneyment and silk cocer moneymer you get about
Speaker 3: a game. But in gy in most old for a
Speaker 3: minimum of what.
Speaker 2: It is and you get goes through. So we have
Speaker 2: banks are already putting that into prey. And that is
Speaker 2: why I'm a bit.
Speaker 3: Bits were like, okay, banks are already eating into the pie,
Speaker 3: already invest where banks are already posishing themselves. We did
Speaker 3: really get that two billion in the long.
Speaker 7: Term, I don't think so.
Speaker 2: But just like you said, it's a good.
Speaker 3: Idea, we cando tell how G that that's where I
Speaker 3: react to because definitely we have long swarm of capital
Speaker 3: among these people, particularly in western country, so if they
Speaker 3: really huge interest, the difference to be both. The problem
Speaker 3: we have in THEGIA, like we don't have in many
Speaker 3: in financial capitals, is that are emb don't do their
Speaker 3: jobs rather than play that around. You know, if we
Speaker 3: had publicized this larger prospect prospect to this year, trust me,
Speaker 3: they think that could have been awesome.
Speaker 2: So that's another problem. How many likes as as a way.
Speaker 1: That we have So but would you I mean we
Speaker 1: had we had a protest match last week, I don't
Speaker 1: think anything government would have actually sold bonds when people
Speaker 1: on the streets saying that they want the government to
Speaker 1: quote unquote live or be changed or too. So it's
Speaker 1: bad timing to to sell that bond or to do
Speaker 1: a road show. Even the road show was very very muted.
Speaker 1: I know I published the pole are telling me show
Speaker 1: me proof. You should didn't believe that this what's happening,
Speaker 1: Show me proof is happening. Such a bond, it's the
Speaker 1: landmark bond. Is the first time that has told it
Speaker 1: should have been all over the waves and it should
Speaker 1: explain this is the thing again, explain to people what
Speaker 1: it is. It's the new thing. It's the dollar bond.
Speaker 1: It's the hedge of inflation. You invest in dollar, you
Speaker 1: get paid back in dollar. There are many folks that
Speaker 1: have five hundred dollars. So if you come together and
Speaker 1: you buy a dollar bond at ten thousand dollars, you
Speaker 1: can get your returns back in dollar. It's a good head.
Speaker 1: It's a very very good scheme if the government would abide.
Speaker 1: And I think the government has never failed on any
Speaker 1: securitized debt since Nigera was created. Any securitized debt, they
Speaker 1: don't fail to repay. So limit Yeah, because.
Speaker 3: People and you know about Joseph that you know this
Speaker 3: back we could not be some applications.
Speaker 1: That's what we asked for, but that was securitized, so
Speaker 1: they see the point. That's why I said securitized debts.
Speaker 1: Most of those loans that we got under a base job.
Speaker 1: What happened that Niger borrowed four billion dollars. They refuse
Speaker 1: to pay, so the interest was capitalized back to the principal.
Speaker 1: So the principal, the principal rose to thirty nine billion, right,
Speaker 1: that's what happened. Yeah, all right, look let's let's get
Speaker 1: the ox day Tech Oxy Tech. What's up bad Ox
Speaker 1: There you've got the floor.
Speaker 10: Yes, I'm here.
Speaker 7: How are you doing today?
Speaker 1: Where doing well? Go ahead, sir, what's happened?
Speaker 7: Okay? Yes, not more so. I just wanted to talk
Speaker 7: about briefly. They went for times right.
Speaker 1: Just like you said.
Speaker 10: I read it piece the paper that was written by think.
Speaker 7: You know, what I'm trying to rationalis what the government
Speaker 7: is doing.
Speaker 10: And the concept of it looks like it's double taxing.
Speaker 7: Yes, I understand the philosop.
Speaker 10: People behind what become mental doing or trying to do that.
Speaker 11: They're trying to balance, you know, in deficits in the
Speaker 11: one side with the stop plats that have won the
Speaker 11: bankses and they were the deficit in the manufacturing in terms.
Speaker 7: Of losses people. No, not the clearing coffee you know,
Speaker 7: for almost.
Speaker 11: Since the three of basically losses for the close office
Speaker 11: classes and elsewhere.
Speaker 7: So I I actually did the analysis.
Speaker 11: Of the T one bands.
Speaker 12: I looked up at.
Speaker 7: Their financial statements for the DIA three.
Speaker 10: I noticed that I think it was most of them
Speaker 10: just like you said, I hope most.
Speaker 7: Of the bands didn't realize that cofee. So if you
Speaker 7: look at their for that comprehensive income, you.
Speaker 5: Would see that.
Speaker 11: They were They were very imprudent and the way they important,
Speaker 11: I think it was only to see that, you know,
Speaker 11: that's you know, like they.
Speaker 7: Realize the chunk of what they have with their fects for.
Speaker 10: As ban you'll be sending.
Speaker 2: But they were all very prudent in some.
Speaker 7: Sort of the way the important.
Speaker 10: Yes, he's sitting on their on their other.
Speaker 7: Other convens comports.
Speaker 11: Most of people's not real So I am and I
Speaker 11: doubt what the government how the government to go about it.
Speaker 10: But KPT actually rose against that.
Speaker 13: And uh and that's that.
Speaker 7: Then coming to.
Speaker 2: Commune to the.
Speaker 7: Putting my sorry not putting my fixing.
Speaker 11: Scurity that the Furthereral government is pushing out, well, I
Speaker 11: would say that for me, first, we should all be
Speaker 11: very prudent and calculated in doing some of those.
Speaker 2: I already know that in Nigeria.
Speaker 7: In Nigeria, some asset.
Speaker 11: Management companies already have these Gola phones.
Speaker 7: They have it in their portfolio. There's some asset monament compute.
Speaker 2: They will stand the.
Speaker 11: Asset management if you go to so if you go
Speaker 11: to some of the products they have, the whole they
Speaker 11: have these dollar points running. It's already it's already, so
Speaker 11: it is the government trying to flow their own.
Speaker 7: Boy, if you're good to quest at the MVM.
Speaker 10: Quarest some of this asset migement companies.
Speaker 7: Called coronation they all have.
Speaker 11: They already have these dollar points running and people are
Speaker 11: already fighting too.
Speaker 7: Well.
Speaker 10: The raised I think the most have they they could have,
Speaker 10: I mean.
Speaker 2: The best apps and I think eighty six percent between
Speaker 2: sixty eight percent.
Speaker 11: So it's just I don't know how the government where
Speaker 11: they want to taste line the grade for whatever dollar
Speaker 11: dollar was it called bonds or treasuries that don't want
Speaker 11: to close.
Speaker 10: But we all need to be care for for me,
Speaker 10: I see it.
Speaker 7: I see everybody is a requiverment that I see the reply.
Speaker 11: That's a bubble because for the very end, for the
Speaker 11: para government disapoints today. If health great investor call for
Speaker 11: their counts today, the government will deport.
Speaker 7: So if you say that the government who have.
Speaker 11: Not reported that the soubeign they already raised that the
Speaker 11: government interest rate that the government is still on those
Speaker 11: bonds and treasures is quite high.
Speaker 10: So if people in half of the people that are
Speaker 10: holding those papers for the.
Speaker 1: But how how would you call for a paper in
Speaker 1: the bond. You can't call for people in the bond
Speaker 1: that you can't go to the bank and some my
Speaker 1: money back. You can't do that in the bond.
Speaker 10: It's I'm talking about Okay, for example, what I'm talking
Speaker 10: about treasure.
Speaker 7: Views, which are the ninety days you want, you want
Speaker 7: into one days.
Speaker 1: And they take six two days.
Speaker 10: So if after for example, I'm giving I'm looking at
Speaker 10: the high pertest, now after the world.
Speaker 7: Ranting one days and half of the people that are
Speaker 7: holding the.
Speaker 11: Treasures disciple for your money interest?
Speaker 1: Yeah, but what what you keep you? You you just
Speaker 1: reputed again. You can't call for your money in the bond.
Speaker 1: Now that's why you're repeating that. You can't.
Speaker 3: You know I'm talking I'm talking of I'm talking talking off.
Speaker 1: How would you call it back?
Speaker 2: Long?
Speaker 1: Yeah? How would you live back?
Speaker 8: So, so what I mean is when you run out,
Speaker 8: when the one eighty days runs out, why the governments
Speaker 8: go on. Look you look at my analysis, the governments
Speaker 8: all plays have a drop because.
Speaker 10: When the one eighty days runs out, people roll roll over.
Speaker 7: Nineteen eighteen to thirty five percent.
Speaker 10: Of the people who holding this rolls over and get
Speaker 10: their upfront.
Speaker 7: Interesting pick.
Speaker 10: So what I'm saying is that after the one eighteen
Speaker 10: days or three sixteen days and fifteen percent of the
Speaker 10: people that I holdingly saying I don't want to do it.
Speaker 1: Give me my money back, they will prince, They'll they
Speaker 1: will print naira and give them my brother. There's no
Speaker 1: that's why it stays. Issue are free. For the Narra bonds,
Speaker 1: no problem. The issue is the dollar pond.
Speaker 7: So I'm bringing that to the dollar now.
Speaker 10: So if they will print money and dig there, and
Speaker 10: what does.
Speaker 2: That do to the economy and edgulation.
Speaker 1: Yeah, so that's so, So don't term just that we
Speaker 1: are listening. So when you do solvereign bonds, treasuries have
Speaker 1: no re issuer risk. So Zimbabwe bonds have the same
Speaker 1: risk as US bonds. It's issuar risk.
Speaker 5: Right.
Speaker 1: So for Nigeria and naira, don't bonds and treasury bills. Yes,
Speaker 1: they will print narror and give you, So no problem there.
Speaker 1: The wahala is like we said, when very begins a
Speaker 1: dollar bond, because we can't bring back dollar. So for
Speaker 1: Nayra bonds you are fine. The rates are almost twenty
Speaker 1: at last time I saw twenty percent. It won't beat inflation,
Speaker 1: but it's for income only. If you're buying a bond
Speaker 1: in Nigeria like a Treasury bill or for FGM bond,
Speaker 1: you are looking for income from a safe source. These
Speaker 1: Nigerian bonds, so solveing bonds are the safest investment in Nigeria.
Speaker 1: That's what it's for. So you can't call for the
Speaker 1: money back. It's gonna be and they will print narra
Speaker 1: and give you. Yes, we get it won't beat inflation. Yes,
Speaker 1: the issue I agree with you it is the dollar bond.
Speaker 1: If you if you buy dollar bond, niger has got
Speaker 1: to generate income to pay you back in effects and
Speaker 1: we only then. I've always said that it's only going
Speaker 1: to be from experts. We can't count remittances unless they
Speaker 1: sell something with they sell five percent of energy and
Speaker 1: that's the risk for you. And to your point about
Speaker 1: that other banks, are you doing dollar bond? This is
Speaker 1: going to be tax free? I read it's going to
Speaker 1: be tax free. So if you invest through the federal
Speaker 1: government for this bond, I think you will get it's
Speaker 1: tax defered or tax free one of them. Yes, that's
Speaker 1: what I read. On the on the dollar bond. Correct,
Speaker 1: I read it that tax free or yeah, it's there
Speaker 1: on the paperwork, so don't say, don't say you don't
Speaker 1: think just google it and then it's I think it's
Speaker 1: there on the paper that it has some tax benefits.
Speaker 1: I'm not sure if it's tax defered or tax exempt,
Speaker 1: but I did say it's tax It has a tax
Speaker 1: benefit there that you might not get it you were
Speaker 1: doing the normal Well that's the advantage really for you
Speaker 1: if you were trying to do that. But I get
Speaker 1: your point. I'm not I'm not trying to say you
Speaker 1: know right, I'm just saying just to make sure we
Speaker 1: have the full context here.
Speaker 10: Yes, for what my final what will be that? What
Speaker 10: my question which is I will put it as a question,
Speaker 10: and also my own talks.
Speaker 1: Which is one interest face. We'll see, we'll see. Olympica
Speaker 1: said that, Olimita said they want.
Speaker 11: To because more than what's compatable with the United States,
Speaker 11: which is the country that you are looting the currency.
Speaker 7: I mean, I don't think.
Speaker 10: It's going to be I don't think so anything about that.
Speaker 1: Sorry, I don't know it's going to be above the
Speaker 1: US rates. They cannot pay you what the US busy.
Speaker 1: There's no point they're going to pay you one of
Speaker 1: the US pas. The US pays you for five percent,
Speaker 1: Niger will pay you from eight percent because eurobonds today
Speaker 1: are eight and eurobondes have a higher security, so they're
Speaker 1: going to pay you from it. I believe that's what
Speaker 1: I would remember.
Speaker 2: That's what the relator said, actually said that it was
Speaker 2: going to correct.
Speaker 4: It reflects to so and it.
Speaker 3: Just like you said, Calu, there must be a premium,
Speaker 3: because why are you going to tell when people have the.
Speaker 2: Option to hoo US debt?
Speaker 3: Why are you going to I was seeing that they
Speaker 3: would that you're at dept.
Speaker 2: At the same with Definitely you have the tax benefics
Speaker 2: you have totally I'm not and you dropped me and
Speaker 2: bring me up with thank you.
Speaker 3: Yeah, so the tax benefic Calum, if you look at
Speaker 3: the tax benef just like you said, one of one
Speaker 3: of the advantages addris about fire government investments, which is
Speaker 3: a lot of investment houses.
Speaker 2: There is that when you invest in different forms charges
Speaker 2: and things.
Speaker 3: But uh, the the fair government security is net and
Speaker 3: the safety gives you. Really like we mentioned is the
Speaker 3: fact that this is a currency that Nigeria has no
Speaker 3: judicial and we notice that of the economy.
Speaker 2: But in the long run, I think it's an interesting concept.
Speaker 4: Where I'm really going to be concerned is that do
Speaker 4: you know.
Speaker 3: The capitis They did a range very systemic investment bank
Speaker 3: has good tentacles around different African countries with up But
Speaker 3: where I am more concern is with Nigerians. We did
Speaker 3: tap into this with the fact that banks are raising money.
Speaker 3: There's so much investment around your corner down Qui ferrariy
Speaker 3: go to list by quarter one next year, Calu. To
Speaker 3: be honest, you know, it's really going to be very,
Speaker 3: very tough to get to be in my get I
Speaker 3: wonder an initial target, but I don't think the two.
Speaker 2: I think it's a console the council there.
Speaker 1: Yeah, I hear you, I hear you. I mean it
Speaker 1: goes back to this issue of we are going to
Speaker 1: borrow in the foreign courtesy we can opering, so we
Speaker 1: have to be very clear. I think the target should
Speaker 1: be the diaspora and the dorm account holders. That's really
Speaker 1: targets three four percent if you keep your money in
Speaker 1: the US DOM account zero percent. If you do this
Speaker 1: bond you get some interest rated I think, yeah, yeah,
Speaker 1: I hear you, I mean thanks. I think the main
Speaker 1: thing there's going to be the targeting the DASPRA, like
Speaker 1: you said, and the dorm account holders. Well, the two
Speaker 1: main guys, the dorm account holders and the DASPRA. And
Speaker 1: those guys have liquid cash that can invest it immediately
Speaker 1: and want a higher yield than what the eurobonds are doing.
Speaker 1: So let's see if they go to DASPRA in America
Speaker 1: and they is offered it offer a dance brug in
Speaker 1: America eight percent dollar eight percent. Wow, that's that's his
Speaker 1: rent right there. Eight percent. So it gives you one
Speaker 1: thousand dollars and you're gonna give me that's that's a
Speaker 1: lot of money. Eight percent, because Inflati here is now
Speaker 1: below three percent. So if I take a heelock on
Speaker 1: my house and I take one hundred thousand dollars and
Speaker 1: I invest in Nigeria, right and I get eight percent,
Speaker 1: what's that one hundred thousand, eight percent? That eight thousand dollars.
Speaker 1: That's eight thousand dollars, Clean Claire for doing nothing. And
Speaker 1: I'm boring, at what what the going he looked for?
Speaker 1: Maybe four or five if I'm boring, But if I
Speaker 1: have the money, I'm not paying that. That's huge risk.
Speaker 1: If Nigeria pays you, fine, if they don't pay you, man.
Speaker 2: But yeah, those guys are invested in.
Speaker 1: Gonna gonna gonna gonna know gets on, I'm gonna get oil.
Speaker 1: I agree, amazing, You're right. I mean Ghana was Ghana
Speaker 1: was They went too fast, too fast, that's they tried
Speaker 1: to copy. They hold up, hold up, hold up, hold up,
Speaker 1: hold up. They were trying to be like Nigeria. I
Speaker 1: think Ghanna refused to learn from Nigeria. Nigeria had the
Speaker 1: Dutch disease. The Ganians almost even worse. They got this
Speaker 1: small amount of crude oil and they sold the crude
Speaker 1: oil ahead of time and instead of spending, just spending
Speaker 1: so at the point they were so stain that growth
Speaker 1: with borrowed funds and went up. They were dead. At
Speaker 1: least Nigeria has crude oil. Nigeria has remittance. Ghanna was really, really,
Speaker 1: really a basket kiss. Let's get the Luca in here,
Speaker 1: looker right.
Speaker 14: He said something about printing money.
Speaker 3: And giving to investors when they call to take their
Speaker 3: money out.
Speaker 4: I need clarification on that, please.
Speaker 1: I said that the it is called issue risk free
Speaker 1: because if it all fails, if all things fail, the
Speaker 1: government can monetize its debts with me, they can simply
Speaker 1: print and cover that debt. That's what I tried to say.
Speaker 1: The point I was making was that with the NEYRA issues,
Speaker 1: it's less it's less risky to niger balancee than the
Speaker 1: dollar issue that we cannot print dollars. That's the point
Speaker 1: I was making.
Speaker 2: Okay, we'll making that statements.
Speaker 4: I don't know because.
Speaker 2: Is that good or bad.
Speaker 1: It's a factual, it's a factual statement. It's a factual statement.
Speaker 1: I'm not just a factuous The US does the exact
Speaker 1: same thing. Monetizing the debt means that you are printing
Speaker 1: the FED is buying the treasury monetizing the debt. So
Speaker 1: that's what I'm not saying it's good or bad. I'm
Speaker 1: not saying that's what happens. It's a factual statement. That
Speaker 1: was why we were arguing with true.
Speaker 2: Yeah, that's what we argue with you that we think.
Speaker 3: That American for example, that they have that they can
Speaker 3: export because they're dig for the currency reserve currency.
Speaker 2: Almost every country the world was so loo cot that
Speaker 2: there's not value advantage advantage. Yeah, the US dollar.
Speaker 3: For example, he's not the strongest parents in the world,
Speaker 3: the most widely currents in the world.
Speaker 7: You see the advantage.
Speaker 3: And if you know US has the strongest army, you
Speaker 3: guys are the strongest economy.
Speaker 2: US has military business in more.
Speaker 3: Than something in my countries just don't come to so
Speaker 3: they have we have the advantage for them to use
Speaker 3: the currency.
Speaker 2: Think the fact that I maintain so much money.
Speaker 3: Officially still three percent. If you have has the definicit,
Speaker 3: a better has about so advantages. Trust me, now that
Speaker 3: come to his son come back through.
Speaker 1: Yeah, I mean, let me give you a story that
Speaker 1: there's a guy you guys to study John Law. There's
Speaker 1: a guy called John Law. He was a gambler, British gambler.
Speaker 1: He was for his debt, he ran to France, or
Speaker 1: he did in France, he convinced the king. The king
Speaker 1: was five years old, so he convinced the king's regents,
Speaker 1: the guy that ran the economy of France, and say, hey,
Speaker 1: issue a currency. It's like issue a a an NFT
Speaker 1: a token. That's how you understanding issue an nft. But
Speaker 1: he then told the king to say that all debts,
Speaker 1: all taxes had to be paid back with only that token.
Speaker 1: So remember when we look at money today, we think
Speaker 1: that money today has been the same as money ever since.
Speaker 1: In the past, anybody could create some money. The dollar,
Speaker 1: for instance, was just the currency of the US government,
Speaker 1: but the US railways had their own currency, US grocery
Speaker 1: stores had their own currency, everybody had their own currency.
Speaker 1: So what John Law said was just mandate that everyone
Speaker 1: had to use your currency to pay taxes. Once he
Speaker 1: did this, the value of that token went up in price.
Speaker 1: So look at it now in treasury bills. What does
Speaker 1: the government say. The government says, this is a legal tender.
Speaker 1: It means that the dollar, the there is dollar is
Speaker 1: legal tender. So once they printed, you needed to pay debts.
Speaker 1: Hence it gets value, so paper gets valid because it's
Speaker 1: now officially legal tender. So now in Nigeria, the naira
Speaker 1: is legal tender, but then goverment is issuing a dollar bond.
Speaker 1: But the dollar is not going to be legal tender.
Speaker 1: But it's not going to be a quote unquote and
Speaker 1: allowable currency because you are trading in that dollar in
Speaker 1: the borders of Nigeria, more like a eurobonde that you're
Speaker 1: traded outside the borders but it's going to be a
Speaker 1: dollar bond traded inside Nigeria, so a big difference there.
Speaker 1: Lu did you have a question. I just want I
Speaker 1: just want you just want to do.
Speaker 4: Yeah, I just want them to make a contribution.
Speaker 15: You just made a very base statements right now, and
Speaker 15: you know where you make statements like this, I still
Speaker 15: wonder why you know, you still dispute the fact that
Speaker 15: bitcoin will not catch up later in future.
Speaker 4: You know people will not adopt it because you know,
Speaker 4: you you you just alluded to the fact that you know,
Speaker 4: money has not been the way it has it is
Speaker 4: right now. If I had the.
Speaker 15: Concept of years is actually new concept. So people don't
Speaker 15: think of money outside you know, a paper that is
Speaker 15: issued by the government. You know, before now people had
Speaker 15: their own currencies.
Speaker 2: For at one point, seed was one of the students,
Speaker 2: was one of them shells.
Speaker 4: You know, before we started using precious metals and right
Speaker 4: now we're using code. Because bitcoin is actually cold, you know,
Speaker 4: so money people should not look at money as only
Speaker 4: what government issues.
Speaker 2: You know, money can be anything, really, you know, So.
Speaker 4: The idea of.
Speaker 15: Bitcoin, you know, it's something that a lot of people.
Speaker 3: Who see valuing later although it has its own challenges.
Speaker 15: But you know it can be money, you know, as
Speaker 15: it is of the government bond, the dollar bond.
Speaker 2: I will tell you for the fact that it is
Speaker 2: very risky to you know, to buy.
Speaker 15: In nigeriaan dollar bond, as hal countries that sovereigns that
Speaker 15: you should dollar bond you know succeeded.
Speaker 4: Yeah, some have succeeded. You're raising the money then paid.
Speaker 2: Back, while a lot of them failed.
Speaker 15: Some of them failed without countries like Venezuela, Lebanon, Argentina
Speaker 15: and most recently in Russia which failed as a result
Speaker 15: of it sanctions. So Nigeria, does Nigeria have the capacity
Speaker 15: to pay back his debt?
Speaker 4: Maybe, but I highly doubt you.
Speaker 15: Know so, I think it's one of the most risky
Speaker 15: things that you.
Speaker 2: Can do right now, buying the Nigerian dollar bond. Some
Speaker 2: of that's my own two cents on this.
Speaker 1: Yeah, well said, I mean you can remember that risk
Speaker 1: is returned. Let me put this way, that return that
Speaker 1: you make is the risk. Right, So if there was
Speaker 1: no risk, like the like the Bible said, just berry
Speaker 1: your dollar the ground and then get zero percent. So
Speaker 1: if you want to make alpha or volatility is the
Speaker 1: what creates that return. So if you just want your
Speaker 1: dollars safe and secure, put in the ground. If you
Speaker 1: want safe and secure, buy US government bonds and end
Speaker 1: three four percent. If you're a real risk taker, you
Speaker 1: think you want to quote unquote double the return on
Speaker 1: the US fixed income. You want to maybe shoot for
Speaker 1: eighteen percent? Do Nigeria. I mean their country is paying
Speaker 1: more than eight percent. Turkey is paying much much more
Speaker 1: than Nigeria. You know, Venezuela is paying much more, Zimbabwe
Speaker 1: is paying much more. So it's really your risk appetite. Really,
Speaker 1: there's no I telput there. It's no good or bad investment,
Speaker 1: it's just your risk appetite. If you want to make more,
Speaker 1: you go on that yield CoV and you put your
Speaker 1: money there. If you're not risk adverse, just keep your
Speaker 1: money where it is and just you know, putting the
Speaker 1: ground or put in the US bank and then you
Speaker 1: are all as tandy on bitcoin, right, I don't have
Speaker 1: an issue with bitcoin. You know, for me, if bitcoin
Speaker 1: just stopped at the pact that they want to be
Speaker 1: a transfer mechanism and say fast superior mechanism for transfers.
Speaker 1: If you want to sell money from Nigeria, to the
Speaker 1: US or better stay from the US to Nigeria, you
Speaker 1: pay a lot. You pay a lot, You pay almost
Speaker 1: four percent or so or three percent. Africa pays the most.
Speaker 1: To send money from the US to Africa. All that
Speaker 1: countries is very very cheap. We pay forty dollars per
Speaker 1: cent any amount that's the wifee forty dollars. Bitcoin is
Speaker 1: nearly free. If Bitcoin to Be says we're gonna do transfers,
Speaker 1: nobody will argue with them. I think the part where
Speaker 1: bigcoin lott is when they say they want to replace dollar.
Speaker 1: Every government is the government because the number one they
Speaker 1: can kill you. Number two they can jail you. Number
Speaker 1: three they can issue currency. Any government you tell they
Speaker 1: are going to take away their right to issue currency
Speaker 1: will fight you. So bigcon has don't pull marketing initial
Speaker 1: to say they want to replace dollar. How can replace dollar?
Speaker 1: It's not possible. You can replace for naira. So no
Speaker 1: gover will allow you to stand if you're going to
Speaker 1: replace that currency. But what if bi cooin says, hey,
Speaker 1: it means where we can transfer money. It's full proof,
Speaker 1: it's cheaper. Of course, everybody who would adopt it. With
Speaker 1: that line, you can get into the door, and then
Speaker 1: when you are now on establish currency, you can say, okay,
Speaker 1: we want to replace a dollar because dollar didn't wake
Speaker 1: up today. Dollar replaced the Spanish and the English and
Speaker 1: all that. So that's just my ticket. I don't have
Speaker 1: any issue with bitcoin. I hold a bit of cryptocurrency.
Speaker 1: But in effect, remember that if you hold bitcoin in itself,
Speaker 1: just holding it in a self, you're ainy no interest gold.
Speaker 1: If you hold gold by itself, you eart no interest.
Speaker 1: But gold has a use, Gold has jewelry, Gold is
Speaker 1: used in the cell phones. Bitcoin is what we call
Speaker 1: the greater full theory, which which is a real theory.
Speaker 1: Bitcoin will only rise in price when there's a new buyer.
Speaker 1: Apart from there being a new buyer, Bitcoin has no value.
Speaker 1: It's got no interrinting value. The same ware gold, you know,
Speaker 1: platinum for instance. It has to have a value. That's
Speaker 1: the That's really where I'm on bitcoin. You've got to
Speaker 1: show value utility, not just to say it will it too,
Speaker 1: you know, all right, guys.
Speaker 15: But that's not correct saying that bitcoin does not have
Speaker 15: an intrinsic but it's it's small of you know, placing
Speaker 15: a tangible things saying bitcoin must have you know, us
Speaker 15: physical use it is now as I speak to you
Speaker 15: right that people who are seeing the value of you know,
Speaker 15: storing their moneys. You know you're using bit coin as
Speaker 15: a store of value, you know, against inflation.
Speaker 1: But that's not true even if you look at the
Speaker 1: numbers to say whenever there's crisis, when when whenever there's
Speaker 1: whenever there's crisis, gold goes up, Bitcoin goes down. Bitcoin
Speaker 1: is not a store of value ever, I've putted it
Speaker 1: many times. Look at it. Just whenever there's.
Speaker 2: It goes down the store of value because if I
Speaker 2: wasn't saving you.
Speaker 1: You can't the same way when.
Speaker 16: When the government went on in printing charade in Nigeria,
Speaker 16: I would have been out.
Speaker 7: I would have been wiped out.
Speaker 1: Understand the bag of a bag of rice, a bag
Speaker 1: of rice is store of value Nigeria. A bag of
Speaker 1: rice is a store of value Nigia. A bag of
Speaker 1: cement to store valu nager, I can name it a
Speaker 1: bag of a paint can to stop valantager and the
Speaker 1: amenities that a store, but not investments. So you can't
Speaker 1: see because it's it retains its value, then you should
Speaker 1: go do that. The point I'm making, and I'm standing
Speaker 1: is that bitcoin in itself has value because the next
Speaker 1: person wants to buy from me at the higher price.
Speaker 1: That's why it has value.
Speaker 15: Entirely correct, because okay, see for instance, do you know
Speaker 15: that during the protest a lot of people's accounts were frozen,
Speaker 15: you know, because they tried to protest, They try to
Speaker 15: god their government accountable.
Speaker 1: How does bitcoin solve that?
Speaker 4: With bitcoin? Whom you more? If I send money to
Speaker 4: to to someone.
Speaker 1: You know, tell me how you send it to me?
Speaker 1: Tell me how you said it to me? Should walk me?
Speaker 1: Walk me through? Walk me through? How do you send
Speaker 1: it to me? How do you send to me? Bit
Speaker 1: going to you? If you have the wallet? It's just
Speaker 1: how how do I get a wallet? How did I
Speaker 1: get a wallet?
Speaker 2: You can't get you to just.
Speaker 1: Won let throe? How how how did I get it.
Speaker 2: From?
Speaker 14: Where?
Speaker 4: So?
Speaker 1: So I go to the I go to the infants
Speaker 1: and donload and wallets. Right is trying to make you.
Speaker 2: You could create, you know you could create.
Speaker 1: But that wallet that was whose name? Who name on
Speaker 1: the wallet? Who's new being the wallet?
Speaker 14: Can you said something about how you got thelet whose name?
Speaker 1: Who's never being? The wallets.
Speaker 3: Is flash back and just I think what we see
Speaker 3: and I think I got into in love cause for as.
Speaker 2: Last week and that pretty much people do understand this.
Speaker 3: I own a centralized worlds, I own centralized words, and
Speaker 3: I understand our government work around for as. Yes, criple
Speaker 3: itself as decentralized principle, But what I was making you
Speaker 3: understand is that as the lookers we have government, what
Speaker 3: is really what we call centralized. It's not really decentralized.
Speaker 3: And you know, I told I spoke about the fact
Speaker 3: that I don't want reported in new stands, the fire
Speaker 3: government throughs.
Speaker 2: That was it thirty five with that.
Speaker 3: Self me know, and critics were like, men, you're needio
Speaker 3: that the news is not possible. You can freeze and
Speaker 3: make you understand that scene. We have different forms of
Speaker 3: wordt the saying accounts. People don't really understand the application
Speaker 3: of you check the CI the MBI is skeleton cryptocurrencies.
Speaker 3: You can freeze centralized worlets.
Speaker 2: You can use much contracts to disable to centralized worlets.
Speaker 3: You're seeing it in the case of titter, So what
Speaker 3: can you swimpy telling is that as much as cryptocurrencies
Speaker 3: are centralists, we need to as much as they have
Speaker 3: use cases in traditional feelers, they don't really have that
Speaker 3: word into simp value or important. Said it gives Diamond
Speaker 3: said it. So I don't think it's fair for us
Speaker 3: to start making it an issue. You need to look
Speaker 3: at the tractional fillures aspect of all value. You need
Speaker 3: to understand why they say it doesn't but it's not.
Speaker 2: It doesn't mean that he has.
Speaker 4: Those stop value.
Speaker 2: It's a argument ongoing, but reality is that crito currencies
Speaker 2: are not centralized as.
Speaker 10: We think they are.
Speaker 2: And I'm making that governments in.
Speaker 3: Different countries have ceased foozing, confliccated critical coreny.
Speaker 4: I'm talking about bitcoin. You're talking about.
Speaker 1: Okay, but let's go back to the basis. You want
Speaker 1: to hold bitcoin. I think it's you can hold bitcoin
Speaker 1: and you can make money from it. I'm not against that.
Speaker 1: I'm not against that. Like I've said clearly, and you
Speaker 1: and you can't. You can you can stick. I hear you,
Speaker 1: brost Listen, I hear you. If you hold bitcoin this year,
Speaker 1: you've made a lot of money last year, a lot
Speaker 1: of money. There's no problem with that. You can also
Speaker 1: even stick your bitcoin and get fixed returns that are
Speaker 1: almost higher than investing the dollar. So bitcoin gives you sticking.
Speaker 1: Bitcoin gives you an inflation hedge because if you hold
Speaker 1: bitcoin and you don't hold naira, you give yourself that hedge.
Speaker 1: I get all that. I'm not debating that the point
Speaker 1: I'm making and I'm being factored because I pull listening.
Speaker 1: When you hold bitcoin, the value derived from the fact
Speaker 1: that the second person is going to bite from you.
Speaker 1: That's where the value is from. If you hold gold,
Speaker 1: gold can be used as a jewelry. It can be
Speaker 1: used in your mobile phones. It can be used the identitist.
Speaker 1: It has a use case. If you hold wheat, wat
Speaker 1: can be used to make bread. Bitcoin in itself is
Speaker 1: a digital token. The value is derived from the fact
Speaker 1: that it has a market, and I'm saying once there's
Speaker 1: no market, it has no value. I'm not debating if
Speaker 1: you can make money from it or can't make money
Speaker 1: from it. If you want to hold it, It's what
Speaker 1: we call a risky investment. If you hold a risky investment,
Speaker 1: you're liable to all not all things being equal, you're
Speaker 1: able to make more returns from it. So if your
Speaker 1: risk profile is allowable to do that, go ahead and
Speaker 1: do that I don't. I'm not hitting bitco and knocking
Speaker 1: the head. I think it's fine, it's fantastic.
Speaker 2: Exactly what mobile studies empty? Exactly what can you say
Speaker 2: in use case not it's the only issue that will.
Speaker 3: But then you can get exposure because it's something that
Speaker 3: rows from out of nowhere. But like you said, we
Speaker 3: need by now, he said no, it would by now.
Speaker 2: Because he rather hold onto DECII.
Speaker 3: So we need to understand those traditional finals definition of
Speaker 3: of this asset. I understand, guys, where you guys look
Speaker 3: at the fact that first coins is traditionary th inside
Speaker 3: that don't put this putting that discom was created to
Speaker 3: defeat that purpose.
Speaker 2: But the reality is that we live in an entity
Speaker 2: that when the system.
Speaker 3: Becoregrated, there's so much trouble. One of the problems market.
Speaker 2: Has every regraded. You've seen so much comes. We look
Speaker 2: at how much nagieras are lost in Potalo projects triple entities.
Speaker 2: So you need to be very conscious and careful and
Speaker 2: understand the limits. That motive is absolutely in us. Nottil
Speaker 2: is absolutely guess by the fact that the text book
Speaker 2: would tell you that.
Speaker 1: Such as I said, thank you, excellent let's take someone else.
Speaker 1: Let's take kay, kay, what's in your mind? Okay, you
Speaker 1: got a handle, k what's in your mind? Let's take
Speaker 1: lifelong learner, lifelong learner, what's your mind? Go ahead, Hey
Speaker 1: you guys, your hands up. Lifelong be.
Speaker 7: Doing?
Speaker 11: Yeah?
Speaker 2: Can you hear me?
Speaker 13: Now?
Speaker 2: I can thank you having following all a long. I can.
Speaker 1: I can see what you're doing, the goodies you're putting.
Speaker 2: Have been following.
Speaker 4: Thank you so much for your worldsover. I just want
Speaker 4: to add a little comment on.
Speaker 11: The b t C.
Speaker 17: Yeah, all the kind I think one hundred percent I
Speaker 17: agree with you for now. B t C I think
Speaker 17: is more like an n F t.
Speaker 2: O bad.
Speaker 17: Like with time, there is what we called I think
Speaker 17: mister look me that has been following over with the space.
Speaker 4: With defire and order.
Speaker 17: So there is what we call them zero knowledge proofs
Speaker 17: that will still.
Speaker 2: Coming future of b t C.
Speaker 17: So b t C people are also by I need
Speaker 17: for for the technology that it doesn't exist now, but
Speaker 17: to exist in future.
Speaker 2: So I think there's another reasons some group of people.
Speaker 1: That's a good point, Like that's a good point. Investment
Speaker 1: might not be now that's a good point. I can
Speaker 1: I concede that point. That's a good point. I am
Speaker 1: buying today for what will happened tomorrow. Interesting point. I
Speaker 1: concede that point to you. Yes, sir, I agree, good
Speaker 1: point noted. Let's get okay, okay, what's your mind? Okay, okay,
Speaker 1: let's get no such thing as waste? Interesting? What's up?
Speaker 1: No sarching as waste? What your to? Go ahead.
Speaker 2: And everyone?
Speaker 1: How you doing, sir?
Speaker 2: Well, yeah, I'm fine.
Speaker 1: I'm fine because going through.
Speaker 4: I know.
Speaker 1: You have.
Speaker 18: It has really really ruding over over the years since
Speaker 18: ninety seventy one, when uh, when next thing came off
Speaker 18: the gold standard and it's more like everything is paid
Speaker 18: onto onto every.
Speaker 4: Currency is paid.
Speaker 1: Onto the dollar.
Speaker 7: So I do that in rule.
Speaker 1: Your orders kind of apparents in the world because it
Speaker 1: so sorry, look go ahead, go ahead.
Speaker 19: No so I hate to jose, could you, uh.
Speaker 20: If you explain deeply what's the new Kic theory and
Speaker 20: the Quantine effect is? When is it affected a lot
Speaker 20: of which other which a vein is one used to
Speaker 20: two hate again such and previously.
Speaker 1: Your funds if I heard your line was breaking up.
Speaker 1: But if I heard you correctly, you are asking about
Speaker 1: how you can hedge your funds. Is that what you're asking? Yes, yes, okay,
Speaker 1: all right, so good broad question. Let me just see
Speaker 1: if I can answer broadly. So when you say hedge,
Speaker 1: you are trying to protect it from something. The most
Speaker 1: common hedge is against inflation, and that hedges against a
Speaker 1: loss in purchasing power. So inflation, it means you're trying
Speaker 1: to protect that asset you have from losing that ability
Speaker 1: to purchase the same items today. That's one thing you're
Speaker 1: trying to do today. So the most common hedge is
Speaker 1: to go to an SI unit, to go to a
Speaker 1: base currency or bayse commodity. That's the most common hedge
Speaker 1: because in the past, like I've eluded, every current, see
Speaker 1: what's pegged to something. So all currencies in the world
Speaker 1: were pegged to something, either it's gold or a commodity.
Speaker 1: It was always pegged to something. Then you would then
Speaker 1: issue a currency to denote that this item exists in
Speaker 1: the safe. But this currency note stands as a substitute
Speaker 1: to that thing that exists in the safe. That's essentially
Speaker 1: what currency is.
Speaker 2: Right.
Speaker 1: So when you want to hedge, you want to go
Speaker 1: back to that quote unquote biz. You want to try
Speaker 1: to buy an asset that is tied nearer to what
Speaker 1: was hedging you or what was giving your currency value.
Speaker 1: The most common is gold, but you can carry gold
Speaker 1: around the whole place, right, what about commodities? You also
Speaker 1: can carry gary or maze around the whole place. So
Speaker 1: folks like to go towards currencies. What currency is not
Speaker 1: the US dollar, right, perhaps the Yen, the Swiss franc,
Speaker 1: even Australian dollar. They use the land currency as well.
Speaker 1: Those are traditionally looked as hedged currencies. Those are the
Speaker 1: currencies you run to if you want to pro to
Speaker 1: yourself on volatility. The dollar is the reserve, but it's
Speaker 1: not a good hedge because it does lose value. The
Speaker 1: Swiss currency is very strong, but it's not a reserve
Speaker 1: currency used across the world. So if you want to
Speaker 1: hedge with the currency, that's where you want to run to.
Speaker 1: The other thing is to hedge, say with a bond.
Speaker 1: Right you want to say, I want to earn a
Speaker 1: bond that it does inflation, perhaps it protects me. I
Speaker 1: think the US government issued inflation hedged bonds. They're called
Speaker 1: q tips. So if you buy them qtip you get
Speaker 1: the fixed return, but you also get an inflation rider,
Speaker 1: which means if inflation goes up, the US government pays
Speaker 1: you more.
Speaker 2: So.
Speaker 1: To hedge means you are going towards something that was
Speaker 1: previously a base for a currency, either to a commodity
Speaker 1: or to a currency. If you're going to a commodity
Speaker 1: like I said the Swiss frank Yen Australian dollar newsaland
Speaker 1: those things are very very good. If you're trying to
Speaker 1: go to US our commodity perhaps gold. Now you have
Speaker 1: gold ATM machines. If you go to Costco, if you
Speaker 1: go to do buy can bud goals on the ATM.
Speaker 1: If you want to do that, keep solid gold and
Speaker 1: swept to fiat currency perhaps, But if you're a big
Speaker 1: time investor, you'll just maybe look at buying a q
Speaker 1: tipe or buying a mutual fund. There are many mutual
Speaker 1: funds you that allow you to ride out for latility.
Speaker 1: If you want to hedge against market falling, you buy
Speaker 1: the fix. If you want to hedge against fixed income
Speaker 1: interest rates going up, you can buy it on the
Speaker 1: fixed income market as well. So that's the way to
Speaker 1: do it. I don't know if you have the skill
Speaker 1: to do it. You want not talk to your advisor
Speaker 1: and then if you have a problem or you say
Speaker 1: this is what I'm concerned about, they can give you
Speaker 1: a way to do it. But that's just broad definition
Speaker 1: of what you want to do. I hope that helps you, sir,
Speaker 1: perfect zero equally from Sorry, Sorry I went over time.
Speaker 5: I think it was natural, Okay, So yeah, I think
Speaker 5: we've talked about the.
Speaker 2: Years, the bonds and concerns of the rige. You know,
Speaker 2: I talked about possession.
Speaker 4: And trust.
Speaker 5: So I don want to address the risk as because
Speaker 5: from outside of things.
Speaker 2: We really do not see that he's as risky as
Speaker 2: people perceive it to be.
Speaker 1: I think it's what what's your side? What's your side?
Speaker 1: You say your side? What's your side?
Speaker 5: I mean my side of the like say, my perspective
Speaker 5: on the market. Basically, yeah, so why is writing? So
Speaker 5: first of all, it's okay, he carries risks here. Yeah,
Speaker 5: the returns are higher, but gam then we don't control
Speaker 5: the currency. So whoever he is looking at it the target,
Speaker 5: I get that, look at it Okay, Well, if I
Speaker 5: am going to forsake alternative, that's US treasuries or US
Speaker 5: bonds for this switch base higher, what the odds I
Speaker 5: will get my money. So I'm going to address that question,
Speaker 5: what odds you get your money? Why do I think
Speaker 5: is a good idea?
Speaker 2: Why would I tell my clients or whatever, or my
Speaker 2: friends to invest if they have the money.
Speaker 4: It's a five year bond, right, you allowed.
Speaker 5: That it should pay at least eight percent years, so
Speaker 5: let's put it at ten percent.
Speaker 2: That puts the interest cost at sixty million. But for
Speaker 2: five years. Yeah, I wouldn't worry too much. Why because
Speaker 2: we just I mean thee.
Speaker 5: Retail dodge options that just happened that I'm linking it
Speaker 5: to the dicision in our reserves by ten hundred and
Speaker 5: eighty one million dollars.
Speaker 4: So so as almost half a million.
Speaker 2: What am I saying?
Speaker 3: I'm saying I don't think half a million is going
Speaker 3: to be a problem for the further government in.
Speaker 2: The five years.
Speaker 5: I think if this takes off, I still have in doubt.
Speaker 5: I think it's probably going to be under subscribed. But
Speaker 5: if it's not, if I'm wrong and it's oversubscribed, I
Speaker 5: think it's going to be a priority case in for
Speaker 5: this administration. But then that now includes what they call like, well,
Speaker 5: I'm sorry, political risk, because the vision is five years million,
Speaker 5: a new government comes in betweenty twenty seven, three years
Speaker 5: from now, we know how the country is and how
Speaker 5: still unstable it could be. And you know someone mentioned men,
Speaker 5: what are you about redogossi staxes.
Speaker 2: They could just come and say, okay, I'm going to
Speaker 2: talk to you guys when it's supposed to be things
Speaker 2: like that.
Speaker 5: But but now this I really do, out of which
Speaker 5: the political risks for me is the highest. But I
Speaker 5: do think that the I'm skeptical on the NR, so
Speaker 5: I'm skeptical on assets associated with the neerror that I'm
Speaker 5: not sixteen. So that's where I don't have two questions
Speaker 5: from actually three questions from mister number one. It's media
Speaker 5: because you know people are sort people have one thousand dollars,
Speaker 5: they're done account, they're keeping four years two thousands.
Speaker 2: No one has that.
Speaker 5: Not everyone has that ten So do you think its
Speaker 5: years should be involved people who could actually need pro
Speaker 5: funds together?
Speaker 2: That's the first question in this US.
Speaker 5: The second question is set to really, which do you
Speaker 5: and how do you? How would you advise me or someone?
Speaker 5: Two out major autolis like if someone say I'm looking
Speaker 5: at I'm looking for defensive stock income stock and a
Speaker 5: little bit of good. So how would you have advise
Speaker 5: me if I want to put fifty percent of my
Speaker 5: equity portion for you in deferences to thirty percent in
Speaker 5: income stocks as valuest evident.
Speaker 2: In those stocks. There's the second question.
Speaker 5: The third question would be, I see your post about
Speaker 5: how much neglect you know the you know, the Nigerian
Speaker 5: population it gives the stock market in the comparison toward
Speaker 5: that develo of countries and you know, So what do
Speaker 5: you think I can be done to change that?
Speaker 2: Do you think it's that it's a structural problem or
Speaker 2: do you think it's just.
Speaker 1: It's a thing of.
Speaker 5: More financial literacy needed or more financial education needed?
Speaker 1: Public question?
Speaker 2: Thank you, thank you for question.
Speaker 10: So none start.
Speaker 2: I will try and be brief.
Speaker 3: So the inviting about the Nigerian economists that many people
Speaker 3: are not like Calum So I see people are like Calues.
Speaker 2: That Calus is a nagas poralized.
Speaker 3: Exposed to different assets, has k us that is ready
Speaker 3: vopped in different markets, that can any effects The average
Speaker 3: Nigiera does more, won't aim at bove one future thousand
Speaker 3: much less ethics. So when people start saying denis crap,
Speaker 3: uze this.
Speaker 2: The stock markets is stop.
Speaker 3: It becomes the problem for me because you have to
Speaker 3: start from somewhere right, and if you look at life, you.
Speaker 2: Have to start with what is that really? Just like
Speaker 2: what Calu said, the man that buries the talents do
Speaker 2: not get interested. The man that used one to get
Speaker 2: to grew and was rewarded.
Speaker 3: So you start with what you have first, and what
Speaker 3: you have opportunities might not be stable, but you.
Speaker 2: Have no choice. And that's the narror. So another problem
Speaker 2: is bad.
Speaker 3: Mindset about the nagera captain market who invested so much
Speaker 3: money is lost so much money. The problem we just
Speaker 3: kind of narrative is not because they are not true.
Speaker 3: The problem we dose narrative is because they're extreme. There
Speaker 3: are also certain people in the population that invested in
Speaker 3: the stock market, that set their kids to private verses,
Speaker 3: that are well, that use houses.
Speaker 2: I did a lot of great things. Now the person
Speaker 2: is that the Nigerian stock market is not efficient.
Speaker 1: Is not is not is not like what you have
Speaker 1: with the US.
Speaker 2: Also, the UK market is not like the US. I
Speaker 2: invest in, U can invest in thefore re market. I
Speaker 2: can tell you that not thing is like the United
Speaker 2: States of America.
Speaker 3: So if you're comparing you to America, I think you're
Speaker 3: in for a joke.
Speaker 2: Then you also need to look at your any capacity,
Speaker 2: your level of knowledge.
Speaker 3: Stock market is easier and safer to invest. Why because
Speaker 3: the massive mom you can't lose it is ten percent.
Speaker 2: The massive mom is stock and go is ten percent,
Speaker 2: So you cannot be so dumb.
Speaker 3: Also that when you see your asset dropping as thirty forty,
Speaker 3: you need to take losses in.
Speaker 2: US stock markets.
Speaker 3: And as I can go thirty percent and as I
Speaker 3: can also go down forty percent, we've seen that.
Speaker 2: Do there sectary breakers now?
Speaker 3: So you need to take advantage of what you have
Speaker 3: at your exposure. And as I said, apart from the
Speaker 3: fact we have a.
Speaker 2: Disposable come problem, we also have a cultural perspective.
Speaker 3: Those people dimigrated in US because I was investing in you.
Speaker 2: The two thousand won't take crash.
Speaker 3: My older cousins that invested, they were swimming for textbooks.
Speaker 2: Take blue in America, it don't be improbled. The Master
Speaker 2: dropped by more than half fifty percent of its value.
Speaker 2: But look at what we are. We are living in
Speaker 2: the tech cara, our pull Google to everything of the
Speaker 2: market improves over time.
Speaker 3: Nigeria is not doing be but I can tell you
Speaker 3: that nat market has been who we have now you
Speaker 3: can look at I can look at my market makers,
Speaker 3: I can look at be spread.
Speaker 2: I can look at different things.
Speaker 3: And that's why I said that that what you have,
Speaker 3: because you say, why syst what we have? With that,
Speaker 3: you have to imput your any capacity to be able
Speaker 3: to make efforts if you cannot convince your if you
Speaker 3: cannot enny, Now, I wanted to think you will do
Speaker 3: better with any because you're competing around periods of people
Speaker 3: and there there's a world's gap. So you how to
Speaker 3: start by understanding how to invest, how to be disciplined,
Speaker 3: how to grow, and that's where personal finance.
Speaker 2: Place in mad your rule.
Speaker 3: So the excuse that okay, nagera'stock is not liable, give
Speaker 3: that aside.
Speaker 2: You want to give the knowledge so that you use
Speaker 2: that knowledge to invest.
Speaker 3: Because if you cannot, if you cannot swallow na.
Speaker 2: Losses, how would you swallow the losses?
Speaker 3: If you cannot deal with inefficiency of within your system, how.
Speaker 2: Would you survive? That's why I said that.
Speaker 3: See, if you're a tribal person in the country, for example,
Speaker 3: when you go outside, you're going to have a lot
Speaker 3: of problems.
Speaker 2: So you have to really understand how to deal with
Speaker 2: whatever you are.
Speaker 3: If you are from a ritual, yeah, you can't start
Speaker 3: with us around no body is constant. But the problem
Speaker 3: in social media is that many people live exaggerated lifestyle.
Speaker 3: Many people say things they are not being all new
Speaker 3: where we start there from.
Speaker 2: You know, many of us, our parents are not.
Speaker 3: Down cooties or in middle so we all understood that
Speaker 3: we pass through from group.
Speaker 2: So you have to learn the group.
Speaker 3: And the good thing about investing is that it's a
Speaker 3: general It's just like science.
Speaker 2: Depriotic people, cash on is cashion. Everywhere in the world.
Speaker 2: Investing rules are the same. It's just the market fundamentals
Speaker 2: that are different.
Speaker 3: So you start unders starting those perspectives. Then you know
Speaker 3: the dinner, dinner, outlook, the outdoo. Like I've said, really
Speaker 3: affirmed that many times Kudor has a strong condition with
Speaker 3: so no matter what the CPN doors, it can only
Speaker 3: by time.
Speaker 2: But I think for us, especially younger, the younger.
Speaker 3: Publish what we need to work on this any capacity,
Speaker 3: and while we're excising the government because we cannot just
Speaker 3: before government we sit out on level. The last decade
Speaker 3: was for those that are with the depory government.
Speaker 2: You see what have harp so you cannot see to
Speaker 2: your going with on that.
Speaker 3: So while you're still have to get to do something
Speaker 3: and inflation is high, the valation is so you needed
Speaker 3: to put exposures for me, I say, the easiest place
Speaker 3: to invest for having the journeys and just talk market
Speaker 3: in one tut they bottle of cop would buy you
Speaker 3: twenty five defense types of stocks in the n GX.
Speaker 2: So you can't try that in America.
Speaker 10: Do you know how much it dollar is to just
Speaker 10: do you know how much?
Speaker 2: No, I'm just trying to make it because the truth
Speaker 2: of the matter is that, See, you have to start
Speaker 2: from somewhere.
Speaker 3: If somebody gives you five thousand dollars, good, you can
Speaker 3: ignore the Nigerian stock.
Speaker 2: I don't have a problem with that. When you don't
Speaker 2: have something, you're not eating, your complaining and don't want
Speaker 2: to start from the end. Sorry, nobody is going to
Speaker 2: help you. And that's the problem I have. That's the
Speaker 2: problem I really have with so a perform The fact
Speaker 2: we have.
Speaker 3: Supposed to become cultural problems, the fact that people give a.
Speaker 2: Bad name on the market.
Speaker 10: Don't even who has.
Speaker 3: About seven successful businesses listed on the stock market. If
Speaker 3: you look at each of those investments, because I have
Speaker 3: exposure in all of them, it has done better than
Speaker 3: the average European stock I invested last year.
Speaker 2: Now, the question is why am I investing because a
Speaker 2: pert from the fact I'm Nigerian. I want to understand
Speaker 2: that your business is better than.
Speaker 3: Foreign businesses, and I understand the market people old nagerial
Speaker 3: stalks like us talks. We are going to get into
Speaker 3: trouble because American companies are usually older, are more efficient.
Speaker 3: Nag companies are younger, inefficient and unstable. You need to
Speaker 3: understand these things. You don't treat an American woman like
Speaker 3: a nageranman. I always say this this off many times.
Speaker 3: Despite the fact that they are both we met, they
Speaker 3: are culturally different because of environmental and.
Speaker 1: That's interesting, interesting, very interesting.
Speaker 2: Yeah, because that we really need to start from somewhere.
Speaker 3: We really need to start from somewhere, and the matter
Speaker 3: is that we have to start with world we are.
Speaker 3: I wish we can all be successful, but the better
Speaker 3: about life is that we have to sow seed but
Speaker 3: also wet and if we do so, with all we.
Speaker 2: Start, we will leave this by So.
Speaker 3: The togist, I think starting from our own markets is
Speaker 3: in no printer because it's easier. You learn so much
Speaker 3: a bit over time you can migrate. Many of us
Speaker 3: are trade for your markets. Who started from you have
Speaker 3: to market you can.
Speaker 2: Also, it makes you gives you.
Speaker 3: Exposure to understand the companies their balance statement. You see
Speaker 3: some people talking about GIT. They don't know how GIT
Speaker 3: makes money. They don't know what makes GIT different.
Speaker 2: They don't know why you be is what this? They
Speaker 2: don't know what asss bank is, what is investing? We
Speaker 2: teach you all those things over time.
Speaker 3: Then you get better Superor information because.
Speaker 2: You lead to investment bankers. I have six different broaders.
Speaker 3: I talk to about a dozen investment bankers a week
Speaker 3: to get top information about what is happening.
Speaker 4: So I'm not just reading.
Speaker 2: I'm also getting.
Speaker 3: Top valuable information from insider and that you're investment bankers
Speaker 3: are not expensive or like Europeans if you open Europeans
Speaker 3: standard accounts. For example, I ask if you know how
Speaker 3: much financial world moneyment fees?
Speaker 7: If you know how much the pay.
Speaker 3: You start with your advantage, which advantage and who being
Speaker 3: consistent at all.
Speaker 1: In effect that you're saying you are you saying that
Speaker 1: if I'm a Nigerian guy in Nigeria just starting out
Speaker 1: is best for me to start with Nigeria than going foreign.
Speaker 1: Even if I could make more, I could hedge.
Speaker 3: Just to be clear, Yeah, because the problem is that
Speaker 3: you know the the the the around him, sorry, the
Speaker 3: the investments is that there's not like floor you're going
Speaker 3: to ask this morning.
Speaker 2: You need to lend the roops just like someone wants
Speaker 2: to lend the car. You start your diving lessons on
Speaker 2: the express feed.
Speaker 3: You might survive, but you're surviving when you get the
Speaker 3: horn of.
Speaker 2: Your trailer or the you see different cars running at
Speaker 2: the speed of power.
Speaker 7: But when you start, when you start on.
Speaker 2: The streets, so as you put this one, okay you
Speaker 2: that you push.
Speaker 1: You got that? That's how we a that's how many
Speaker 1: because all right, I drive on the express.
Speaker 7: Bit that's the problem.
Speaker 1: Along, Start slow, start slow, I hear you.
Speaker 4: Let's actually the mic because no, no, no, no.
Speaker 1: Toberry. You've got the flow to the berry.
Speaker 4: Okay, okay, I'm saying I just wanted to appreciate you
Speaker 4: and miss lud.
Speaker 2: Conversation.
Speaker 1: Thank you appreciate that. Just have a lot of fo
Speaker 1: to speaks precient that yes to the very good flow.
Speaker 1: Thanks you appreciate.
Speaker 16: Your candor go to doing the space today.
Speaker 1: Yeah, very well.
Speaker 16: Yeah, I requested for the micro and we were discussing,
Speaker 16: you know, this store value on bitcoin good.
Speaker 2: I just don't want to share my perspective.
Speaker 1: You know, if you had asked.
Speaker 16: The Comoto ten years ago if bitcoin won't bitcoin it's
Speaker 16: got to work seventy thousand dollars, I think it would
Speaker 16: have argued with you, or if it's going to agree
Speaker 16: with you, it would have agreed that the world would
Speaker 16: be in a mess. So my point here is that
Speaker 16: these assets that we are mentioning, they're just.
Speaker 4: On their own.
Speaker 16: It is the actions of the government, the policies of
Speaker 16: the government. They on end the money painting, you know,
Speaker 16: the local activity globally, the low GDP. That's why these
Speaker 16: assets add assets add money, That's why they are going up.
Speaker 2: It's not really their own use case.
Speaker 1: But an example, what's hard assets given as ad asset,
Speaker 1: an odd set is gold.
Speaker 16: Their casts is of add sets, right, they are they
Speaker 16: have to be relatively scarsts.
Speaker 7: They need to be.
Speaker 16: It needs to be interchangeable, it needs. So it's it's
Speaker 16: really the quality of the cast of money. So as
Speaker 16: much as those are set have those characteristics of money,
Speaker 16: they could be regarded as adda sts oil. People forget
Speaker 16: that oil is black gold, right, it's also had money
Speaker 16: because everything we do in life is energy and the
Speaker 16: best form of energy right now, but perhaps owing to
Speaker 16: nuclear is.
Speaker 2: Still oil and it is limited.
Speaker 10: But my point is.
Speaker 2: Based on known no nods. There are some things that
Speaker 2: we can we can we can predict right now.
Speaker 16: All central banks around the world are points and money
Speaker 16: and they are never going to stop because they need
Speaker 16: liquiditing the system, They need fund the government.
Speaker 2: Nangia is not an exception. The US itself is not
Speaker 2: an exception.
Speaker 16: Now, when you know that already, you can start polate
Speaker 16: what the consequences of that is.
Speaker 10: It means that at some point a lot of money
Speaker 10: will be chasing.
Speaker 7: Very few things.
Speaker 16: Now, let me say today, as today, there are two
Speaker 16: very big problems in the world.
Speaker 1: I want to land this plant on this landing play.
Speaker 2: Yeah, I'm just gonna land it this way.
Speaker 16: There are two major problems right now, and I think
Speaker 16: those products as to better than the next day years.
Speaker 2: One is foodscasting. The other one is bad money.
Speaker 3: So our conclude by saying we could get to a
Speaker 3: future where only good.
Speaker 2: Money would buy your food.
Speaker 16: So regardless of we get looking up in terms of dollars,
Speaker 16: it's actually what you're going to exchange for in the future.
Speaker 2: So I'm just gonna stop it. Thank you.
Speaker 1: I'm like, I get the point you're making that in effect,
Speaker 1: food is we need food, but we don't need money.
Speaker 1: So in effect, if I export grain, I could say
Speaker 1: I want this particular currency to pay for my grain.
Speaker 1: I hear you, but you forget the fact that the
Speaker 1: government can basically invade on the land and take all
Speaker 1: their food. Might is always right, and eventually, if you
Speaker 1: look at the strongest currencies, they always correlate with the
Speaker 1: strongest navy. If I just sell government to keep printing,
Speaker 1: I will never stop printing that, which is correct. It
Speaker 1: means that eventually what we call currencies, whatever the strongest
Speaker 1: government says, it is not what we say.
Speaker 3: I agree with your other that's where we need that said,
Speaker 3: that is your position.
Speaker 1: How can it be if it's if we if we
Speaker 1: how can how can gold and bitcoin be in your
Speaker 1: possession when the government can say you should no longer
Speaker 1: hold gold or no longer hold bitcoin. It's your position.
Speaker 2: So so in the US there's there's.
Speaker 1: The Bill of Rights and the same US, the same
Speaker 1: US band holding gold. The same US banned individuals holding gold.
Speaker 1: The answer everyone to gold, they banded. That's the whole idea.
Speaker 1: Now they says, so that your gold, you cannot hold
Speaker 1: gold individually against which was breaking which was breaking the law.
Speaker 1: But the point I'm making side is this that government
Speaker 1: says you can't hold gold. So eventually, whatever the government
Speaker 1: says money is is what money is going to be.
Speaker 1: And the like I mentioned John Law at the beginning
Speaker 1: of our space, John Law says, the French government passed
Speaker 1: talking and the godfriend government that says this tooking is
Speaker 1: the only way you can used to pay your taxes.
Speaker 1: So a piece of paper the French was in French
Speaker 1: frag but that piece of paper back then became the
Speaker 1: most valuable thing in France because no matter how much
Speaker 1: money you have, you have to exchange that for the
Speaker 1: government's paper to pay your bill, which is where this
Speaker 1: thing of legal tender comes from. The government allow you
Speaker 1: to hold legal tender. But once the government says that
Speaker 1: you must pay your bills in NIRA. What you hold bitcoin,
Speaker 1: you still have to convert tonra.
Speaker 2: I don't know did you that you but I get
Speaker 2: your point.
Speaker 16: But as someone in the US, the US Constitution says
Speaker 16: no other states ch have anything else apart from gold
Speaker 16: and silver.
Speaker 2: That is not true.
Speaker 1: It says legal tender. It doesn't say you can't hold it.
Speaker 1: The US Constitution no, no, no no, you are legating
Speaker 1: the means to pay debt. You can hold this, but
Speaker 1: you can't pay debt. So the US government has already
Speaker 1: in the past banned you from holding gold. Why can't
Speaker 1: they bann you tomorrow? I mean, remember a few years
Speaker 1: ago they were already banning bitcoin. Just that mister Trump
Speaker 1: is saying gonna allow bitcoin if if you're going to
Speaker 1: come to that and says if you hold bitcoin a
Speaker 1: terrorist terrorist act, would you hold bitcoin?
Speaker 16: I wouldn't because that's not in the constitution. But for
Speaker 16: gold and silver, you'll be preaching the constition and I
Speaker 16: there's not that toever be in store value or.
Speaker 1: All I'm saying is that is the government that determined
Speaker 1: what currency is not you it can be you can
Speaker 1: hold cows and your cows are valuable. I'm not disputing
Speaker 1: that your cows are valuable. I am saying the government
Speaker 1: says today that cow, that milk is currency. If you
Speaker 1: hold bitcoin, you are broken. I'm not disputing the that
Speaker 1: that you're that your bitcoin or your corrector your goal.
Speaker 1: If government says to that goal is not valuable, then
Speaker 1: what do you do after God and the government, US, Nigeria, everywhere,
Speaker 1: after God and a government. So I'm not I'm just
Speaker 1: making a point that in the end we have to
Speaker 1: That's why you have I don't know that we're going
Speaker 1: to we're going to far.
Speaker 16: Okay, let me let me, let me count tie it
Speaker 16: this way. If I'm gonna go with your point, then
Speaker 16: nothing else can be corency. The dollar you are holding
Speaker 16: a piece of paper. The currency you want today is
Speaker 16: a piece of paper.
Speaker 1: The only reason why it is valuable is because the
Speaker 1: US goverment is stamped US government. It has no value whatsoever.
Speaker 1: There's a point im making Bitcoin is a fast, superior
Speaker 1: thing than paper currency. I'm agreeing with you, but I'm saying,
Speaker 1: because you are not the government, you cannot wake up
Speaker 1: and say bitcoin because it's fast superior, will have to
Speaker 1: use Bitcoin doesn't work that way. The government is slow.
Speaker 1: The government is an ass but they're at the government.
Speaker 1: They will determine what you do if they again, if
Speaker 1: they wake up today. Don't you watch Walking Dead? You
Speaker 1: watch I watched working I'm Walking Dead fan? Have you
Speaker 1: seen Walking Dead where the whole world was full of zoombes?
Speaker 1: What's the currency and Walking Dead bullets? It's not even gold,
Speaker 1: it's not bitcouse, it's bullets because there is no more government,
Speaker 1: so you need bullets to protect your self. That's their currency.
Speaker 1: So eventually, when economy decided breaks down, say oh, when
Speaker 1: government breaks down, I'll hold my my bitcoin. No, when
Speaker 1: government breaks down, there's no law and order, so even
Speaker 1: your gold will be worthless. What we have bun is
Speaker 1: gonna be water bullets and triting gum. That's it, not gold.
Speaker 2: So I'm.
Speaker 1: Exactly if there is no government, there is no currency,
Speaker 1: even the gold and the bitcoin would be waterless because
Speaker 1: the government makes the currency itself, makes the economy functions.
Speaker 1: If you take that a way, then you can say
Speaker 1: you're removed here place with bit so you remove government
Speaker 1: basically probably Sector Haber, it's not possible. Let's get that's good.
Speaker 1: That's donkey dooky Capital. Thanks thanks much.
Speaker 2: Thanks.
Speaker 14: I've been watching, I mean, I've been following you guys
Speaker 14: for the past.
Speaker 2: Couple of years.
Speaker 14: It's it's always nice to to be part of you guys.
Speaker 14: I love what you do all the minute. You you
Speaker 14: are always you're always on points. I mean, you get
Speaker 14: your insights and I know because I'm also doing the
Speaker 14: same trying to also get my information from inside as well.
Speaker 14: I have almost my brokerage just like you. I love
Speaker 14: invested in the germ I get. I love it because
Speaker 14: it's it's it's so easy. I mean, so I just
Speaker 14: enjoyed I enjoyed I mean American markets, so I'm exposed
Speaker 14: to South African markets as well.
Speaker 1: So my question is.
Speaker 14: What is what are the companies that I've been following
Speaker 14: A couple of a couple of the companies in Nigeria
Speaker 14: that are actually into tech, the tech companies in Nigeria,
Speaker 14: company like c W g uh He Transas companies like
Speaker 14: because I'm looking at the Ai revolution that is coming
Speaker 14: and I think Nigeria can actually benefit from it since
Speaker 14: it's one of the black nations and the biggest Black
Speaker 14: nation and unhead actually we haven't really done anything to
Speaker 14: actually bring the the the youth actually into that yet,
Speaker 14: but if we as an investor can actually see that
Speaker 14: for what happened. So that's that's why I'm actually asking
Speaker 14: this question saying, what do you guys think about Ninjia
Speaker 14: actually also capturing some part of that a revolution when
Speaker 14: it comes to African market.
Speaker 1: Olive telling me your reputerator or statistics place.
Speaker 2: About good question.
Speaker 3: If you look at the talks the pathologist talks on
Speaker 3: the NJX, you see that they are fairly profitable. But
Speaker 3: you need to also look at your car statistics. Between
Speaker 3: Landry investors and America investors.
Speaker 2: You know, America has the.
Speaker 3: Amount of listed the companies, the most profitable, biggest, but
Speaker 3: due to the matter is that they have different temperaments.
Speaker 3: We have group apart from the app the macros of
Speaker 3: the big magnifiens and other steaming the complies. Many the
Speaker 3: companies are good, meaning that they are we have that
Speaker 3: good than profitability. But if you look at that in
Speaker 3: Nigeria stock market is a different board gaming that line.
Speaker 3: Gian investors, what you if you are not profitable? That's
Speaker 3: what I was laughing when someone was saying that you
Speaker 3: can't just this is stock and you are very recessive
Speaker 3: to profitability. Don't try that if your business is not
Speaker 3: profitable or on the part of profitability.
Speaker 2: I in this on the stock market. I can't die
Speaker 2: it for free. You get hot, you know.
Speaker 3: So if we look at what those guys are doing,
Speaker 3: they're focusing on business to business government.
Speaker 4: Look at what charms in the.
Speaker 2: I space, payment space.
Speaker 3: Eats at the fact that as as bad as exposure.
Speaker 3: So yeah, I agree with you that there are opportunities.
Speaker 3: But uent is that line gan List their companies are
Speaker 3: more realistic than they want to see outside.
Speaker 2: You see all this with their companies. You see what's
Speaker 2: happening to them now.
Speaker 3: The problem is posted apart from if you will, like
Speaker 3: pigi uh pay start that.
Speaker 2: Way you can see the real scenario with that space.
Speaker 3: So uh we haven't said that in mister problems and
Speaker 3: why because they call their acountry side the just profitability
Speaker 3: efficiency just dept.
Speaker 2: So yes, the present minister is trying to promote these days.
Speaker 2: But you see, the other concerns we have is that Nigeria.
Speaker 3: List companies are not rewarded despite the fact this guys, these.
Speaker 2: Guys open their books, they least on the stop market.
Speaker 2: A many of them are really exposed to direct cop contracts.
Speaker 1: That's the problem.
Speaker 2: That's the problem we are facing.
Speaker 3: And until we start rewarding efficiency, people that are productive
Speaker 3: end on people that know.
Speaker 2: Somebody knows, somebody pushes in.
Speaker 3: Because if you look at step contracts in fire government deals,
Speaker 3: look at because I've tried to choose you already see charms.
Speaker 2: C W said there.
Speaker 3: Working with Dimitry, I was kind of excited one systemic.
Speaker 2: I was kind of excited. And you know what Assets
Speaker 2: is doing with it transacts. I think people need to
Speaker 2: watch that space, you know, the assets as so I
Speaker 2: think over time the ngs will evolve.
Speaker 3: But the writing is that because tech works with liquidity,
Speaker 3: America is going to be America because not because of liquidity.
Speaker 3: There's a culture of risk. There's a culture of research,
Speaker 3: is a culture of development. Nigeria we don't have those things.
Speaker 2: Yeah, so it's really really time. So for me, I
Speaker 2: think becausambly, I think it does need to be very
Speaker 2: really exposure. You know what what what what?
Speaker 1: What are your top three or top two picks in
Speaker 1: the tech space for those the guy that wants to
Speaker 1: get exposure, look good, It look like the MT it's
Speaker 1: going to be more that you haven't there.
Speaker 2: I don't given these stocks or the areas.
Speaker 1: Your stocks, like what stocks are looking at in terms
Speaker 1: of topic, I want to measure on boards, you know.
Speaker 1: So generally you know.
Speaker 3: Like I said, I have exposure in differentities or investment.
Speaker 2: So I'm also the city. But if you look at
Speaker 2: you look at me. For me, when there was this
Speaker 2: think Pank, I knew think it's not that, but I
Speaker 2: knew that it did not have the what you took
Speaker 2: because I look.
Speaker 3: At just to push on capability, I look at the
Speaker 3: capital piece and I look at the abbas leverage. If
Speaker 3: you look at empty and that's by the fact empty
Speaker 3: and created record thos because of f skin. They are
Speaker 3: penetrating in different text place. Gradually it's becoming a kind
Speaker 3: of systemic.
Speaker 2: You look at how first Pank.
Speaker 3: Did with agency banking, First money empty and is clime
Speaker 3: to capture resentments, where like giant banks are really kind
Speaker 3: of not really I'm talking about not out of the country.
Speaker 2: So I think ertain we has good prospect.
Speaker 3: But generally I think me, I'm increasing my exposure in
Speaker 3: those tecompanies.
Speaker 2: Are measured and the banks. The reason why I'm increasing
Speaker 2: look at for.
Speaker 3: Example, degrees are ary paid from a reception that have
Speaker 3: been profitable, and lot of.
Speaker 2: People say, what are very pain because they don't do they.
Speaker 3: Do with merchant and the sure plans. So this are
Speaker 3: kind of exposures. Are we looking at and looking at
Speaker 3: businesses that can leverage your number of customers, the capitalist
Speaker 3: they and the risk to mess up, especially in an
Speaker 3: unstable pape eco.
Speaker 1: So I may also ask you I saw again, just
Speaker 1: go back to but I saw there is in AI
Speaker 1: to to approve laws like you can apply for sile
Speaker 1: that you can apply for get an ounside in like
Speaker 1: twenty four hours.
Speaker 6: Yeah, yeah, good question.
Speaker 2: F C and B starting f C and B Starling Wilmar.
Speaker 3: These banks are something you need to watch out when
Speaker 3: he talks or when it comes to take exposure, you know,
Speaker 3: starting for example, like money, A lot of people don't
Speaker 3: know that he's a man from Arsential, that we were
Speaker 3: the founding for us of inter Switch. So you look
Speaker 3: at starting banks products spot on. I look at the
Speaker 3: price right now because I think this year is one
Speaker 3: of the worst. Most part of me at some point
Speaker 3: was looking like it was going to six now as
Speaker 3: floating mark f CMP very interesting stock is a stock
Speaker 3: that definitely is the stock.
Speaker 2: I would I'm looking at the upside because Jemmy yea,
Speaker 2: he has really been able to.
Speaker 3: Hire friends, sectors as people around what you're really talking
Speaker 3: about using technology to join the young population.
Speaker 2: And particularly women.
Speaker 3: He's building products around women and say eventually exposures to
Speaker 3: expot up.
Speaker 2: So yeah, is an interesting thing. But you see, the
Speaker 2: question is that you really need to know what.
Speaker 1: You're looking for.
Speaker 3: If you're looking for long returns, definitely your own banks.
Speaker 3: If you're looking for larger or rootky of course the
Speaker 3: two banks who come to play. Then if you're looking
Speaker 3: for capture the bigger market, well when was dropping below
Speaker 3: which was really really good bye boards. Right now MS
Speaker 3: seems to be breaking and looking to break about.
Speaker 2: So it looks like your.
Speaker 3: Investment objective, the private entry.
Speaker 2: Your liquidity, your exists really make up all this. So
Speaker 2: it's not just about looking at the market. Thank you, eliminated.
Speaker 1: To move on get us.
Speaker 7: Last question is my last question is do you think there.
Speaker 14: Can be any tech company in Nigeria that can pull
Speaker 14: the stunts? That's some companies in America called right now
Speaker 14: in sterns of saying they are changing the strategies of
Speaker 14: their reserve assets.
Speaker 1: Okay, I don't think so.
Speaker 3: I've said, I've said, and that's where I have wished
Speaker 3: many crypto fancy or fanatics. We are not realistic in Nigerians.
Speaker 3: The Nigerian political spiece is not is supportive of.
Speaker 4: Reality.
Speaker 3: One princ reality we will to defeat our enemy. It
Speaker 3: truth is that some deals on top business entrepreneurs, they
Speaker 3: are receptive to ards crypto or the establishments.
Speaker 2: From the national tempy to those because of power we
Speaker 2: have ske skeats a cryptore said. We've seen that not
Speaker 2: just worry, is not just relificity. It's not just despite
Speaker 2: the fact that you see that there's a cloud around it.
Speaker 2: Until we fight that part too, I don't see it happening.
Speaker 4: In the next few years.
Speaker 1: Thank you, gotcha. Let's get King King, mister King. Guys,
Speaker 1: we're gonna everyone to speak.
Speaker 2: Not to worry.
Speaker 1: We're shutting down as everyone's on this on the session
Speaker 1: of speak, So King go ahead.
Speaker 4: All right, thank you very much, Thank you very much.
Speaker 7: Carl.
Speaker 21: I'm very grateful for the opportunity to speak along with you.
Speaker 21: Have been speaking right on points and I've been writing down.
Speaker 1: Trust me, there's no ending.
Speaker 21: The pursuits of knowledge, and I've really been, you know,
Speaker 21: taking down so many things. You know, one thing I
Speaker 21: always talk about, by the grace of God. You know,
Speaker 21: I also have exposure to the foreign market. But talking
Speaker 21: about the n endrom market, you know, I always seeing an.
Speaker 4: Endry market from the standpoint of the l days of crypto.
Speaker 21: The truth is on the long term, over time Nigeian
Speaker 21: stock market is almost like free mooney, bound to go
Speaker 21: if you know the right stock to engage in. If
Speaker 21: you look at their culture sector, the truth is it
Speaker 21: is booming.
Speaker 2: You could see dang.
Speaker 1: Here and then the whole lot of it.
Speaker 10: You could look at the banking sector though they're having.
Speaker 21: Some literary relapse because of capitulation and the whole lot
Speaker 21: of it.
Speaker 2: But that is even a better pullback for them to
Speaker 2: go on.
Speaker 21: So, first of all, whenever persons get to ask the
Speaker 21: question of all.
Speaker 11: A lot of it.
Speaker 1: Can yes, but can you go go to the question
Speaker 1: just so you can I get us go straight to
Speaker 1: your questions?
Speaker 21: All right, very well, So before now the question I
Speaker 21: wanted to ask, and particular to mister Carlo, please, innotion humility,
Speaker 21: asked this question. Please, I don't know if you could
Speaker 21: do us the benefits.
Speaker 10: I can then not say about me.
Speaker 21: Precisely, the benefit of talking about the place.
Speaker 10: I know you might nearly be.
Speaker 2: One hundred percent open with it, but you do us
Speaker 2: a little bit of.
Speaker 21: By talking about where you get the information, because most
Speaker 21: times I'm actually lagging in terms of getting the information,
Speaker 21: and before I get to see them, it's earlier on
Speaker 21: your world, and most of the times I get first
Speaker 21: on information from your word.
Speaker 10: So I don't know.
Speaker 1: I want to know rather or where did you.
Speaker 4: Get your informations from. I'm not supposed to.
Speaker 1: Ask, and I know the internet. The Internet.
Speaker 2: The Internet is very very broad.
Speaker 4: Indeed, indeed it's very very broad.
Speaker 10: That is why I'm trying to as more as well
Speaker 10: for you.
Speaker 21: If you could do all the benefit of stream learning.
Speaker 1: No, I got too many. It's just that I'm focused
Speaker 1: on it. Really, it's nothing magic, just focused. If you're
Speaker 1: focused on knowing the scores of Chelsea Man City game,
Speaker 1: you get it.
Speaker 2: I do a lot of.
Speaker 1: Outlets on my phone, on my watch. When I read,
Speaker 1: I get a lot of news. I say, if you
Speaker 1: only just know what's happening, just subscribe to these news
Speaker 1: channels and read the newspapers and read the details, not
Speaker 1: just the headline, but the details, and use lots of
Speaker 1: treads you can pull and get information from. There's nothing
Speaker 1: magical about it, just if you want to.
Speaker 21: Get it, alright, alright, And I think I'm also I
Speaker 21: could also give persons the opportunity to speak.
Speaker 1: So thank you very much.
Speaker 4: I'm very very grateful for having.
Speaker 1: Me appreciate your calling. Is I appreciate that. Let's get Micah.
Speaker 2: Michael Michael, I am yes, second, yeah, thank you so
Speaker 2: much for all your.
Speaker 4: True and then so let me day as well.
Speaker 2: One my question is I had a limited talk about
Speaker 2: that and I just stop market that you can't lose
Speaker 2: I think he.
Speaker 3: Said more than ten percent, which actually I'm quite interesting, right,
Speaker 3: So I bought this stock VFD VFD, and I bought
Speaker 3: it around.
Speaker 22: It was saying that two hundred and two, and then
Speaker 22: all of a sudden, I.
Speaker 16: Think they had a stock split told her about and
Speaker 16: this top price felled to fourteen are up a ship?
Speaker 2: Right? And then my money, my I think I invested
Speaker 2: like two hundred or two hundred king and it went
Speaker 2: down to like sixty five thousand, and I was like,
Speaker 2: what's happening? So I had to do something and I
Speaker 2: found out this percent stuff. So I was like, why
Speaker 2: would my de price of my stock.
Speaker 23: Go down to six five king when they had this
Speaker 23: stock speed and my money is supposed to be an
Speaker 23: issue around that same range.
Speaker 4: You know, it was fast, I.
Speaker 7: Believe it, and went up to like six or the about.
Speaker 22: So I was like, I used out to my stock
Speaker 22: broke up because I used African prest and I didn't
Speaker 22: get any response from them.
Speaker 7: Then how to even ask.
Speaker 22: The CEO VFD which is I wasn't his name that stuff?
Speaker 2: What's my super I was like saying that the the
Speaker 2: the prs.
Speaker 22: Of there about it was going to sell there there's
Speaker 22: still on it. And this is like almost a moond
Speaker 22: and and my key or my tot case five kids.
Speaker 2: So it's so bad.
Speaker 7: It's so so bad.
Speaker 22: So I see you guys like talk about the I
Speaker 22: just stop market I'm asking you that gave you fun
Speaker 22: of you know, incouraging about to in person, and I
Speaker 22: just stop marketing. At the end of the day, you
Speaker 22: see that there's there's there's lack of efficiency, so just
Speaker 22: top brokers and so they are so bad, like their
Speaker 22: service is so bad.
Speaker 2: And so poor.
Speaker 22: I tried to I try to manage a free and
Speaker 22: beast because I feel that they're the only ones out
Speaker 22: there that's to be digital, but the rest of them
Speaker 22: are so poor.
Speaker 2: Are interest signing off down?
Speaker 22: So like why do you guys keep you know, talking
Speaker 22: about then I just stopped markets when at the end
Speaker 22: of the day, these guys are not even enough. So
Speaker 22: as as some persons thinking about movie on the now,
Speaker 22: and we were opening my hostop book and sets.
Speaker 1: Of that kind of thing that yeah, yeah, so about
Speaker 1: to go to your first question. So only there was
Speaker 1: making the point that you know, when you have the market,
Speaker 1: the market can decline to a certain percentage to a flaw.
Speaker 1: So it can decline day by day by that ten percent,
Speaker 1: that's what he's saying. So if the share price is falling,
Speaker 1: once it falls by ten, that's where it falls for
Speaker 1: the day.
Speaker 4: Okay, okay, that makes sense.
Speaker 1: But overall, overall, if you invest in a good asset
Speaker 1: cost remember the value and the price are two different things, right,
Speaker 1: If you buy a company that's got good value, the
Speaker 1: price will keep on change. The price is based on
Speaker 1: demand and supply, but the value is based on airnings
Speaker 1: future earnings. So you could have a good company that
Speaker 1: during Christmas. People are selling their shares to go for
Speaker 1: Christmas or to pay for school fees. So the price
Speaker 1: will fall and the share prices will do price. The
Speaker 1: shap price will appreciate, right, but the value hasn't changed.
Speaker 1: So you want to ask your self, is my share
Speaker 1: price falling because there's a demand and setting pressure or
Speaker 1: is it because the fundamental ending capacity of that company
Speaker 1: has changed? Look at it this way. Let's pick what
Speaker 1: company can we pick that's going to be Dangote Refinery.
Speaker 1: Let's say Dangota Refinery was on an established compaign. No,
Speaker 1: let's do good. Example. Let's say we had n NPC
Speaker 1: and now we have Dangot Refinery. If n NPC was
Speaker 1: a listed company, the share price of NNPC will go
Speaker 1: down because of Dangote. Why because now there's competition to
Speaker 1: refining local crude in Nigeria. So the future endings of
Speaker 1: NPC will reduce because there's now Dangota Refinery. So that
Speaker 1: reduction in price is not the share price falling per se.
Speaker 1: It is the company's price and market pricing the share
Speaker 1: price to is real price that reflects it future edits
Speaker 1: You see, but what what what if? What if there
Speaker 1: was no dun the refinery. But a distination plant in
Speaker 1: NNPC went down, went out of commission for say two months.
Speaker 1: The share price will also fall because of that short
Speaker 1: term destructing arnings, but it's not going to affect the
Speaker 1: future endings to that extent. So the market will say, yes,
Speaker 1: we are going to factor in this fall short term
Speaker 1: ins but long term the future and is of NNPC
Speaker 1: because the dictional plant will not really change the long term.
Speaker 1: You see the difference now. So the pricing reflects how
Speaker 1: the market does edding. So you come and going back
Speaker 1: to your going back to your question, if you bought
Speaker 1: that particulars talk and the Shapherd that's gone down, did
Speaker 1: the share price go down because something happened to the
Speaker 1: projected future endings? That's what you want to ask yourself.
Speaker 1: Share price is not guaranteed to go up one hundred percent.
Speaker 1: It's only guaranteed to match with earnings. So if you
Speaker 1: do your research and you find out I heard you
Speaker 1: asking people, oh, p just reflects the eddings ratio how
Speaker 1: much investors want to pay today for future eddings. So
Speaker 1: if you see a pe of four, it makes investors
Speaker 1: want to pay today four times the arnings to buy
Speaker 1: the stock today, so it reflects to you and growing demand.
Speaker 1: So a pe of one hundred and a pe of ten,
Speaker 1: the pe tells you how expensive the stock is, not
Speaker 1: the share price. So if you see two companies, what
Speaker 1: are what ten era, but one has a pe of
Speaker 1: one hundred, it means that you are buying one hundred
Speaker 1: times the earnings at the share price of ten today.
Speaker 1: So that means that you are expecting like Tesla, you
Speaker 1: are saying that the testa share price is going to
Speaker 1: rise so much in the future that you are willing
Speaker 1: to pay one hundred times today to buy that share
Speaker 1: price today. So you've got to do your own find out.
Speaker 1: Ask your broker what is driving the airings? And do
Speaker 1: you always search how does the company make money? If
Speaker 1: you know how the company makes money, then find out
Speaker 1: has that been affected by any government regulation, by competition
Speaker 1: by anything that? Then ask you said, is going to
Speaker 1: be a short term? Is it going to be a
Speaker 1: long term? If it's a short term, make a decis
Speaker 1: long term? Then's still and right away, yeah.
Speaker 2: I can I communities, do you mind?
Speaker 3: You don't mind?
Speaker 22: So what affected their stock price from or was not
Speaker 22: like any news like I think they had the stock splitz, right.
Speaker 2: So the price of their ship came down what they.
Speaker 1: Offered more shares. That's that's not if it's a stock split.
Speaker 1: I had you said at the billing, but I told
Speaker 1: you you were if it's a stocks but then there's
Speaker 1: no change at all. You had ten shares at one hundred,
Speaker 1: now you have twenty shares at fifty. There's no change.
Speaker 18: Yeah.
Speaker 2: What I'm saying is what I'm telling you that in
Speaker 2: my in my account, the pricing go down.
Speaker 22: I don't know, feel like I had to reach down
Speaker 22: to the CU then what actually So it was.
Speaker 2: Like saying that there's your needs like assigned it has
Speaker 2: it has.
Speaker 1: It had not do The CEO is the stock market.
Speaker 1: So once they do is stock split, and the stock
Speaker 1: split has occurred, it had not the company. Yeah, it
Speaker 1: just happens, or your stock price would fall, but your
Speaker 1: number of units would go up. So what you're asking
Speaker 1: you on your c s c s. You want to
Speaker 1: get those maybe your c s c S or a
Speaker 1: physical certificate when you find out from the company what's
Speaker 1: going to happen. But stock splits are not a falling price,
Speaker 1: it's the market pricing. The cut in capitalization. It's not
Speaker 1: the same thing as the company's and it's fall. No,
Speaker 1: this is just the company is trying to make it
Speaker 1: share price cheaper for investors to buy or pay you
Speaker 1: a difidens. Yeah, that's what it was happening there. This
Speaker 1: is problem is that, Yeah, exactly, it's your account, it's
Speaker 1: not the stock per se. Yeah.
Speaker 19: I'm also I think a lot of people need to
Speaker 19: find that the Niger top market asnique for.
Speaker 3: That mental So let me give you ze Blan.
Speaker 2: I both say plats.
Speaker 7: Saying that our uncle.
Speaker 2: The reason I bought that was because it was the
Speaker 2: company that had pictures that management.
Speaker 10: It and this was the company that had the Also
Speaker 10: this on the lord of stop exchange.
Speaker 8: I think you look at and I.
Speaker 19: Don't wanted to understand the upstream business, but look at
Speaker 19: it now. The blood has reason too four thousand A.
Speaker 2: Yes, I thought from my exposure, but I.
Speaker 3: Still say that.
Speaker 10: But what I'm trying to say is that you believe
Speaker 10: we look.
Speaker 3: At the valuation of Vision lands in place, I've not
Speaker 3: done bad because the talk from that point is this
Speaker 3: stem as don't ten.
Speaker 8: X the next over one that you said.
Speaker 19: You know because you chourage you that time, brother, you
Speaker 19: can see you're you also need to look at what
Speaker 19: the metal talk very right.
Speaker 2: And if what you think about the founders that those
Speaker 2: that metis revealed, Yeah, a little bit, good point.
Speaker 1: The texts little the world go one up the next
Speaker 1: ten minutes, guys, Let's get the guys here and have spoken.
Speaker 1: Let's get s c h I. I can put that
Speaker 1: that name s c h I. Then will get ready,
Speaker 1: they will get official and then and then will get
Speaker 1: doctor e U and then of course we get also
Speaker 1: right now x x G is.
Speaker 2: That you yes?
Speaker 4: Yeah, go ahead, people quick one.
Speaker 2: Someone for example, has.
Speaker 16: Some amount of money and those who want to invest
Speaker 16: in maybe I'm asking if I can invest in treas, rebuts.
Speaker 1: Or phones, which would let me Let me ask you
Speaker 1: a question. If I want to buy a car, we
Speaker 1: cas should I buy?
Speaker 3: I'm a bit confused because it's just like someone retiring
Speaker 3: and getting.
Speaker 2: This amount ex amount and you cannot just just go
Speaker 2: and if you if you leave it with yourself, you
Speaker 2: can waste it spending.
Speaker 1: I'm asking you that if I want to buy a car,
Speaker 1: which CAS should I buy?
Speaker 2: You have to have specifics a few readings for buying.
Speaker 1: The car word excellent, excellent, use this excellent answer. So
Speaker 1: the same thing, right, if you have money, right, you
Speaker 1: want to have specific you are investing, how long you're investing,
Speaker 1: and why you want to invest that Those answers will
Speaker 1: tell you you should you buy a treasury bill or
Speaker 1: should you buy a stock. So look at it this way, right,
Speaker 1: if you are going to invest for more than one year,
Speaker 1: then you can buy stocks. If you are going to
Speaker 1: want your principal back, whatever happens less than one year,
Speaker 1: you should not buy stocks at all at all at all.
Speaker 1: So those are like rules of the road.
Speaker 2: Right.
Speaker 1: So if you if I ask you how old are you?
Speaker 1: How let me ask you the question when would you
Speaker 1: want your principal back? Not there at alls? Your principal?
Speaker 1: When do you want it back?
Speaker 7: Sae yeo two?
Speaker 1: Okay?
Speaker 2: A year of two?
Speaker 1: Yes? A year or two? Is letting mean think that
Speaker 1: you want your fixed in comeback. You don't want you
Speaker 1: just want your money back to you. Whatever happens one year,
Speaker 1: two years, you want that money back exactly. You don't
Speaker 1: want to hear I'm coming, abbe.
Speaker 14: I think that's why I'm asking for treasure bills or
Speaker 14: mutual phone something to have some time, I'm aswering your question.
Speaker 1: I'm asking you a question. So again again, the neutral
Speaker 1: funds can buy a treasury bill. So you're asking, like,
Speaker 1: I don't want to use the wrong language. Your question
Speaker 1: is kind of I'm not trying to be disrespectful for
Speaker 1: it right, because the mutual phone can buy a treasury bill.
Speaker 1: What you're asking is what type of fixed income should
Speaker 1: you buy? Let me give you the answer. If you
Speaker 1: want to invest for less than three months. Less than
Speaker 1: three months, you can buy a treasury build for less
Speaker 1: than three months. But the problem is that you don't
Speaker 1: have the capital to buy it directly, so you want
Speaker 1: to buy a money market mutual fund, which is your question.
Speaker 1: So when you buy the money market mutual phone, the
Speaker 1: money market mutual phones buys treasure bills, it buys bonds,
Speaker 1: it buys lots of fixed income, but it's sells it
Speaker 1: to you at a retail basis. So you are able
Speaker 1: to invest in that money market mutual fund and buy
Speaker 1: that and get exposure to treasury bills. If you want
Speaker 1: your money back and you can wait for two years,
Speaker 1: you can buy the federal government treasury bill. That one
Speaker 1: pays about seventeen percent. It pays two to you quarterly,
Speaker 1: so it's safe and it pays you the money is quarterly.
Speaker 1: But the mutual fund it's easier, like you can go in,
Speaker 1: you can come out, and it's retail Nigeria. Mutual funds
Speaker 1: are development ones are five thousand nira minimum to buy.
Speaker 1: I don't know how much you have to want to invest,
Speaker 1: but the money mutual fune is okay for you because
Speaker 1: those guys will buy the treasury bills and then you
Speaker 1: can buy the money market that invest in treasury bills.
Speaker 1: That's basically okay for you. Ask them if they fixed
Speaker 1: in the return is fixed? Don't think it is. I
Speaker 1: think it fluctuates because of the mutual phone. But the
Speaker 1: federal government savings bonds, the rates are fixed. So you
Speaker 1: must not clarify those two from your money market mutual
Speaker 1: phone or from the fair government bond which you can
Speaker 1: buy from a bank or stockbroker. But then I answer
Speaker 1: your question, okay, thank you.
Speaker 3: If wants to read now about investing, what books would.
Speaker 1: You if you go from yeah, yes sure. If you
Speaker 1: do hashtag finn plant books as f I N P
Speaker 1: l A N books, you see lots of books that
Speaker 1: I've curated on investing, very very easy books finn plant
Speaker 1: Books hashtag thin plant books. It just gives you tons
Speaker 1: of books there and there are very very books that
Speaker 1: are easy to read and all that. Yeah. Good good
Speaker 1: websites for you. Mortally full m O t l E
Speaker 1: y f o o L, motorly Food is very very good.
Speaker 1: Investopedia is very very good. You can subscribe to receive
Speaker 1: daily financial terminologies and you can understand what they mean.
Speaker 1: It's a very very easy side to go to a
Speaker 1: read that's Investorpedia. Motly Food is very very good. Pro
Speaker 1: share and love pro Share. The handle is Nigerian, very
Speaker 1: very good.
Speaker 2: You can go there.
Speaker 1: They give you lots of broken down stop as well.
Speaker 1: I think also on handles you can follow what's her
Speaker 1: name assign it see I'm going to send you to
Speaker 1: the handles O. Look, can you post there's there's a
Speaker 1: tossin site Money Africa. Money Africa is very very good,
Speaker 1: the school at Money Africa. There's also Shaddy that does
Speaker 1: smart women investors. These are very very good site for
Speaker 1: you as well that you can follow the Nigerian so
Speaker 1: they can talk in that part with it for you.
Speaker 1: Very Money Africa does courses. You can pay for and
Speaker 1: then about finance. So yeah, if you give me, I
Speaker 1: can send you all the handles.
Speaker 2: Just DM me.
Speaker 1: I'll send you after the space will post it. Just
Speaker 1: ask me after this, after the post and I'll send
Speaker 1: the handles you as well. Yeah. After is that.
Speaker 7: You can actually this person?
Speaker 1: Okay, go ahead, that's a good one. Go ahead, okay.
Speaker 2: So that's all I have is going back to this.
Speaker 1: Yeah, real quick, real quick. So going back to this okay,
Speaker 1: not not ready, just hold on, be very very quickly.
Speaker 7: Okay. So going back to the dollar bomb, dollar bonds
Speaker 7: and treasure.
Speaker 2: Views and Pella government is trying to flow.
Speaker 24: So my question is would there float floating them they
Speaker 24: still follow the cycles or is it a case of
Speaker 24: the way they handle their treas treasures to speak, where
Speaker 24: the commercial bands are used as the collecting bands war
Speaker 24: the commercial bands getting.
Speaker 4: Accossibly all the paps moving through.
Speaker 10: The center bank and there you know from font manager
Speaker 10: there you.
Speaker 7: Know custodian custodian bank.
Speaker 11: So that I'm answering this question because given that the
Speaker 11: currency is not the Nian currency, and I'm worried that
Speaker 11: dislution where.
Speaker 24: There is no custodian there's no maybe defiant men will be.
Speaker 7: There one for managers.
Speaker 1: It will have the same it will have the same
Speaker 1: rules to have the same issue house, the same rules.
Speaker 1: It's just different currency. Yeah, no change, just the same
Speaker 1: different currency but the same stuff. Yeah, yeah, that's an
Speaker 1: easy answer for you. Yeah all right, ready, worth speaking,
Speaker 1: it's the same issue the same guidelines, custodian issue house,
Speaker 1: the same thing, just different currency. Yeah, there's actually an
Speaker 1: issuing house and all that. Yeah, so ready you go ahead, ready,
Speaker 1: go ahead.
Speaker 11: Yeah, Olive, they are there and will thank you very
Speaker 11: much for.
Speaker 4: All the tangeria and range the level of the trading.
Speaker 7: You guys are fast.
Speaker 4: Let me go straight to the question.
Speaker 11: I I converted my most of my money as sayings.
Speaker 2: I converted.
Speaker 7: And I'm giving them as as well.
Speaker 2: And you know, I'll say so.
Speaker 7: I now said, okay, I know how transition of just
Speaker 7: getting it as dollars. Let me buy goal starting goals.
Speaker 2: And I feel safe.
Speaker 7: Is there anywhere you guys can advise me on how
Speaker 7: I can.
Speaker 12: Invest in gold without really having the physical goals?
Speaker 2: I mean Nigeria as.
Speaker 1: Sure as you understand, Yeah, you're in Google, you have
Speaker 1: to invest in the Yeah, great question. You have to
Speaker 1: invest in the security. So if you just google online,
Speaker 1: I don't know. If you in Nigeria, there setting apps
Speaker 1: allow you to invest in foreign issues securities. I think
Speaker 1: there are second proved as. I know there's bamboo, and
Speaker 1: know there's cali. Wise, I know there's shaka. So you
Speaker 1: have to invest in a foreign denominated security. The only
Speaker 1: Nigerian one I know. You said, you know there wasn't
Speaker 1: name that is it gold new gold et F But
Speaker 1: it's over priced. Now I think it's new gold ETF.
Speaker 1: That wasn't it's over what's.
Speaker 7: Yes, it's exposed to and that was why this talk
Speaker 7: at some point.
Speaker 1: So it's one of the jap still the same Japaul guy,
Speaker 1: still that same guy. Yeah, but it's still the same guy.
Speaker 1: Still the same guy. Okay, I don't know, but I
Speaker 1: don't know. I don't know about that. But if you
Speaker 1: want to do Nigerian issue, is that new gold, but
Speaker 1: that one is very expensive. If you want to invest abroad,
Speaker 1: just google gold e t F. There are many of them,
Speaker 1: Google gold ETFs and you can invest in that e TF.
Speaker 1: It buys the gold itself, so you don't have to
Speaker 1: hold the physical goal. That's just the way you.
Speaker 2: Want to do it probably many people. Is that for
Speaker 2: those that go to invest.
Speaker 3: Amount of equidity, So for example, are you going to
Speaker 3: use the stress to invest or get to that?
Speaker 2: By then the.
Speaker 7: Very fee trans Actually what are you able to get?
Speaker 1: A general so your level of it's like two thousands
Speaker 1: a B two thousand dollars two three for gold band
Speaker 1: now pernal.
Speaker 2: That's what I'm doing.
Speaker 11: You go to five.
Speaker 1: Yeah, I mean mining stocks. If you buy the e
Speaker 1: T so you can buy and sell if it goes up.
Speaker 1: There's a big think. I think it's Bell Cram Jesus et.
Speaker 1: You can buy g G that's the comment. It doesn't
Speaker 1: buy just gold lord, it buys all commodities. Or you
Speaker 1: can buy gold directly. If you just google gold ETFs
Speaker 1: it will give you a ton of them, Bulkan gold,
Speaker 1: many of them are there, very very liquid. You can
Speaker 1: buy that if you want. That's just the way you
Speaker 1: want to do it. If you don't want to hold
Speaker 1: the physical goal per se, it's actually a better way
Speaker 1: in my view than holding the physical goal. Where you're
Speaker 1: gonna sell the physical goal, you have to go to
Speaker 1: how do you sell the physical goal? But if you
Speaker 1: hold the digital gold, you can sell the problem is
Speaker 1: that male? This gold ETF don't actually hold gold. It's
Speaker 1: all a synthetic. But I think it's a better way
Speaker 1: for you, right guys, last few questions we've got is
Speaker 1: it chickle? And we've got doctor EU and then we'll
Speaker 1: go to the official.
Speaker 23: This is a trick, I thought the mic.
Speaker 7: I wanted to have a question, but I wanted to.
Speaker 23: Support to what I was saying, and I wanted to
Speaker 23: share just a few things my experiences a Nigeria marked
Speaker 23: and market, you know, across the world for people, for
Speaker 23: someone asking the question if it should invest.
Speaker 7: In Nigeria or look outside.
Speaker 22: And the limit I wanted I want to chime in
Speaker 22: here and tell what you think.
Speaker 23: For me, why I cannot enjoy an Uria market is
Speaker 23: how the market react during market is lazy when it
Speaker 23: comes to reaction to information. So in the US, if
Speaker 23: something happens now doc market, as long as the market
Speaker 23: is opened, even when market is closed, DOC market will
Speaker 23: react immediately.
Speaker 13: You will see it like if American presidents stays.
Speaker 23: Something, or the fact president says something in the next
Speaker 23: ten seconds, not even.
Speaker 13: Not to one NAT, the market will react.
Speaker 23: Something would happen in my Inderia that should affect the sector.
Speaker 23: It will take three days two days at times one
Speaker 23: before the market react.
Speaker 1: That means, and I do react.
Speaker 4: It's safer if you.
Speaker 2: Keep your ears open, if you know what is happening.
Speaker 2: Once you hear it happened, you.
Speaker 13: Can actually react before the entire I get doted. I'll
Speaker 13: give you an example.
Speaker 4: But the days you mess up, he says, I'm not
Speaker 4: about Japote.
Speaker 14: Sorry, said is I'm.
Speaker 7: Not gonna put my money Jampol anymore.
Speaker 23: But when Japaul signed the contract to move from shipping
Speaker 23: line to gold, it came up. I think it was
Speaker 23: on my remetric or something. I had that control with
Speaker 23: one of my friends. The next day we went in
Speaker 23: big on Japote, but we went in that twenty five.
Speaker 23: I went in that my average ing back cobble. A
Speaker 23: few months down the line, jap Or hit about one
Speaker 23: hour and twenty cobble.
Speaker 4: Like we all smiled, but people did.
Speaker 1: Not react for like one.
Speaker 23: Week, and at some point someone was thinking, are you
Speaker 23: sure this was.
Speaker 2: Going to happen?
Speaker 13: But we are look at it Chinese penpoting.
Speaker 23: We analyze the risks we're going to go you so
Speaker 23: you're a bit sliper going into this is my opinion. Right,
Speaker 23: you're a bit sleeper going into Nigeria because Nigeria market doesn't.
Speaker 13: React that quickly compared to foreign markets.
Speaker 1: That's one dow.
Speaker 13: Were you going to say something, okay, do you the
Speaker 13: morning markets?
Speaker 23: I would say this a colors, I would want to
Speaker 23: part your opinion. Right, I make me and my friends
Speaker 23: we are we are smiling better in Nigerian morning markets.
Speaker 13: Italian American market is currently.
Speaker 23: So I play with that bad because someone asking them
Speaker 23: about technology house gone. You wouldn't believe it when you
Speaker 23: sign up with them about marketing for them.
Speaker 13: Or that, or work with just my brogra.
Speaker 1: Right, So you say, I said you smile more with
Speaker 1: the Nigerian phistical and America one now. For by the
Speaker 1: past three months, the Nigeria one.
Speaker 2: Yes, if not more so.
Speaker 23: The money market has been above twenty percent in Nigeria FX.
Speaker 13: Specifically some other people TITA.
Speaker 7: Between nineteen eighteen eighteen.
Speaker 13: Percent, but almost all of them are all above. When
Speaker 13: you look at ICO, you look at the stamic.
Speaker 23: A, b TC and all that, they are all about
Speaker 23: twenty percent and by the past one one they've been
Speaker 23: about percent.
Speaker 7: Right.
Speaker 2: So the money I have.
Speaker 13: If you put money in America or in Europe. You
Speaker 13: came to be presided, right, this bank will give.
Speaker 23: You about four point one percent in America, in Nigeria
Speaker 23: getting twenty two percent even with devol actility, even with
Speaker 23: the devalue evaluation of the currency.
Speaker 7: So we crunch the numbers and we go.
Speaker 23: Even if it hits two thousand actually dollars, you are
Speaker 23: still away.
Speaker 13: I'm having it outside.
Speaker 1: Things. Let me just quickly help him because we have
Speaker 1: to just wounder if you don't mind it. So the
Speaker 1: first one on when you say, the market to reacts
Speaker 1: that that's actually an advantage and niger does not react
Speaker 1: to this advantage because sorry, sorry.
Speaker 13: Sorry, I'm just I'm directing my I was directing my
Speaker 13: opinion to.
Speaker 23: The guy that was asking a question, so for him
Speaker 23: to be safe. So if you want to exist, if
Speaker 23: you hear something that you really's going to affect the market,
Speaker 23: if you want to exist and take your money, you
Speaker 23: know with your profits in Nigeria you can easily do
Speaker 23: the next day.
Speaker 1: It depends on the liquidity. Right, that's the thing I'm
Speaker 1: going to like. The US market is small liquid in Nigeria,
Speaker 1: you might want to sell, not might want to sell
Speaker 1: and not find a buyer just and you can look
Speaker 1: at look at the volume. So I'm just giving you facts. Man,
Speaker 1: look at the look at the volume. If you look
Speaker 1: at nigral stock, you see a volume at the fire
Speaker 1: end of the table. Chat look at the volume. Sometimes
Speaker 1: it's very very little. So you see the price movement
Speaker 1: to go up one hundred percent, but volume has gone
Speaker 1: by ten percent. We tell you the price is too.
Speaker 1: It's just one guy moving the price up. But in
Speaker 1: the US it's hard to find one or two guys.
Speaker 1: And I'm giving you for experience. You can move the
Speaker 1: present Nigeria one guy, but it's difficult that yous. But
Speaker 1: it's a good point about the twenty percent and the
Speaker 1: four percent, it's four percent dollar, twenty percent NRA. It's
Speaker 1: not the same feel so I know, yeah I don't
Speaker 1: want me and yeah I get it, but it's very important. Yeah,
Speaker 1: it's very important to understand it. It's different in the
Speaker 1: entire I mean a currency, you've got to be able
Speaker 1: to hedge for a longer time. Then I don't see
Speaker 1: a dollar losing ten in a week or five percent
Speaker 1: in the week. And then Ira did that.
Speaker 23: So and I'm gonna give you I'm gonna give you honest,
Speaker 23: i'most looking out of the I'm looking out of what
Speaker 23: I'm doing. So you know, so if you put ten
Speaker 23: dollars in your US right and you put you convert
Speaker 23: that ten dollars, I'm putting in that Juri, one of
Speaker 23: my kids. Right at the end of the month, you
Speaker 23: crunch your numbers, you are almost over.
Speaker 4: You will be almost over.
Speaker 1: Or but you've got to go back to dollar. You've
Speaker 1: got to go back to No.
Speaker 10: No, no, no, yes, yes, people were going back to dollar.
Speaker 2: And this is practical.
Speaker 4: I'm not This is not feary.
Speaker 2: No, it doesn't work.
Speaker 1: No, no, bro, if it if that worked, right, see
Speaker 1: what I'm trying.
Speaker 2: No, I.
Speaker 1: Don't want not argue. I'm not. I'm just trying to you.
Speaker 13: Don't.
Speaker 1: Let be very see if this was what you're saying,
Speaker 1: you're talking a very volatile market. This will have to
Speaker 1: pull a very big of the wor. That is not
Speaker 1: a factual statement. And the point I'm making is that
Speaker 1: if you say people should change dollar to nyra, yes,
Speaker 1: one time. Look at the carried trade just collapsed two
Speaker 1: weeks ago. The whole market in the whole world crashed
Speaker 1: because exactly what you're saying is a carry trade. You
Speaker 1: are boring from America to invest in Nigeria then to
Speaker 1: convert back to America. That's a carry trade. And I'm saying, yes,
Speaker 1: you make money, but be very put the risks out
Speaker 1: there and say if.
Speaker 7: You don't, some people, some people that are from Japan.
Speaker 1: I'm not debating that this strategy that cannot work, and
Speaker 1: just giving the risks to folks that listened, that listen,
Speaker 1: if you do this, you are kind of risk that
Speaker 1: when you want to go back to your dollar, the
Speaker 1: Nira mould have moved and there's no profit anymore. It's
Speaker 1: not a guaranteed strategy to borrow in the dollar and
Speaker 1: invest in Nayra and then go back to dollar. That's
Speaker 1: why they you have to increase interest rate to entice
Speaker 1: pool to do what you're saying.
Speaker 7: So the guys, let me be let me be as
Speaker 7: clear as like that.
Speaker 13: I'm not saying somebody should borrow, We not borrow.
Speaker 1: Yeah, if you're not borrowing, that is, it's not that it's.
Speaker 2: Not exactly exactly which is.
Speaker 23: But I think people that borrow borrow money from I
Speaker 23: got money from Japan, which is low.
Speaker 4: You know, even before they push that.
Speaker 23: Yeah, yeah, yeah, yeah, I haven't the money.
Speaker 1: Back to the idea. All right, we got to go.
Speaker 1: I mean again, it's it's all all about investing and
Speaker 1: taking risks to points. I'm just trying to clarify. And
Speaker 1: I'm not saying if you in an and and I said,
Speaker 1: if you take money from your heelock and you buy
Speaker 1: your federal bone, I say it extending. You are saying,
Speaker 1: but you I'm not trying to put the guard was
Speaker 1: there to pull the listen if you do this, remember
Speaker 1: the risk is to go from naira back to dollar.
Speaker 1: That's the risk Nira back to dollar. That's why we
Speaker 1: had the FX market to Nigeria that I allow you
Speaker 1: to hedge that position where you held it. The guys
Speaker 1: that have bought CBN bonds seven has given them a
Speaker 1: swamp so when they buy at the end of tend
Speaker 1: are going to get back their money back at the
Speaker 1: guaranteed rate. If you do this, fine, you can take
Speaker 1: dollars one two percent, buy Nigerian fixed and come at
Speaker 1: tenty percent, which is what the CBA wanted to do.
Speaker 1: They wanted to bring your dollars from America to Nigeria
Speaker 1: so they get an influence of dollars. When they get
Speaker 1: the influ of dollars, they are going to pay you
Speaker 1: that twenty percent. That's what they want you to do.
Speaker 1: Then at the end of the year, would you go
Speaker 1: back at twenty that Now we don't know that, right,
Speaker 1: but this is what Nigeria wants you to do.
Speaker 2: Since I hear you, we just have to I was
Speaker 2: gonna I was gonna have a little bit.
Speaker 7: I was gonna have to lot their question, right, I was,
Speaker 7: I'm gonna say.
Speaker 2: Something to you.
Speaker 4: When when we talk about editing.
Speaker 23: In my view, market right, it depends on who you
Speaker 23: play with, right age and the brokers who actually give you,
Speaker 23: who actually give you visibility for you to know the
Speaker 23: level of biding and the level of.
Speaker 2: Offer on the stock.
Speaker 13: The worst case in the role, you can have to
Speaker 13: be sent down and take your money and.
Speaker 1: You get it everywhere everywhere gives it to you. Any broker,
Speaker 1: the daily report of the stock exchange. Go to your
Speaker 1: broker and ask for it. I mean, I mean you
Speaker 1: can get it from anybody. Just ask your broker. I
Speaker 1: want to see the live bid offer did you give
Speaker 1: If you're a big boy, does she give it to you?
Speaker 1: Ask them it's not it's not hidden information. Yeah, all right,
Speaker 1: we're gonna go with whatever role.
Speaker 23: Do we have any policy also a form of security
Speaker 23: breaker in the market, because you see what happened with India,
Speaker 23: is it.
Speaker 1: We have that's the question. We have circuit breakers because.
Speaker 23: We have people pinning that would say, for instance, your
Speaker 23: go beyond No, no, no, no, we have second breakers.
Speaker 1: Is I got to move on? I can't really literally
Speaker 1: move on. I'm gonna transit. Yes we have secuit breakers,
Speaker 1: and yes we have secuit breakers. We don't have market makers,
Speaker 1: but we have second breakers, which means in the stop
Speaker 1: for Placenta price, it's it's kicked off the you don't
Speaker 1: that stock? Yes, we do that. And let me very
Speaker 1: very quickly promise them to speak Dr Eu. Let's go
Speaker 1: the doctor Eu. It's gonna be our last guy.
Speaker 12: Sorry, I hi everyone, Thanks, thanks for the opportunity because
Speaker 12: of it's the pleasure of being here.
Speaker 1: I just I wanted them to share my views.
Speaker 2: And add some Christians, but I think I'll just.
Speaker 7: Go straight to the Christians since you.
Speaker 2: My first question is around the.
Speaker 12: Xagerial stock changing the equivalent for the U S SPFI
Speaker 12: fundress index.
Speaker 2: I don't have much knowledge.
Speaker 1: They have a few they have. If you go online
Speaker 1: to the n c X, look at the market they
Speaker 1: have this. You see there's I B t C forty.
Speaker 1: There are lots of the merry steam. Lots of folks
Speaker 1: have created indexes. Think what it means about the it's
Speaker 1: actually about like created like funds and all that. Yeah,
Speaker 1: they have. There's Bettifa, Betifa has, Marry Stem has, ib
Speaker 1: TC has, the Standard board.
Speaker 10: Has Yeah, but did n G ex So if you look.
Speaker 2: At standard stamping ib C.
Speaker 1: You can pick those correct.
Speaker 3: That's where we get more than about our market cap.
Speaker 2: So very date and most of them.
Speaker 3: Are depension equality, more efficiency and easy price discovery for
Speaker 3: the stuff.
Speaker 2: That's when in local.
Speaker 1: Rests book at that yep, yep does answer your question, sir.
Speaker 2: Yeah, yeah, that's that's very helpful. I think I will
Speaker 2: DM you as well.
Speaker 1: Those those.
Speaker 12: The participant asked the question the earlier about investment, financial
Speaker 12: literacy and understanding.
Speaker 1: Yeah, sell it to me. If I'll respond to him,
Speaker 1: just hurt me, don't they just hurt me. I'll respond
Speaker 1: with all those handles I mentioned, the books, the handles,
Speaker 1: I'll mention all of them in Nigeria, like I get
Speaker 1: to nine, I'll do a separate tweet on that, so
Speaker 1: you can have it all all ninet you people that
Speaker 1: you really communicate with it and all that kind of stuff.
Speaker 2: Yes, last, lastly, and there is this room or going
Speaker 2: around not saying room or.
Speaker 1: So if you.
Speaker 12: Mentioned that it's MGS the coupon, there was a delay
Speaker 12: the payment.
Speaker 10: I don't know if it's I've gone through the news.
Speaker 7: I've not founded anything around it.
Speaker 12: All these are from people that have invested, that invests
Speaker 12: in needs and they were mentioning there was I just
Speaker 12: wanted to check.
Speaker 1: Yeah, if it's a delay, I don't think it's an issue.
Speaker 1: Maybe it's a delay one day. Perhaps maybe the issue
Speaker 1: has well or all they pay on time. There were
Speaker 1: cost and they pay on time. No problem to those
Speaker 1: those guys. Yeah, that's the safest investment in Nigeria. That's
Speaker 1: why the relators are lower. But a very very safe investment. Now, yeah,
Speaker 1: I will.
Speaker 2: Receive payments on those.
Speaker 1: Or you got you got yours?
Speaker 2: Yeah?
Speaker 1: Yeah, excellent, yeah, perfect, perfect, perfect, all right, folks, I
Speaker 1: do apologee, I got you all right. I do apologize, guys.
Speaker 1: I'm like on a transit. I came for a wedding.
Speaker 1: So I'm doing this out of the hotel room and
Speaker 1: I have to go catch up flight. Like I do,
Speaker 1: appreciate you guys, or call it in olimit it. I
Speaker 1: can't thank you not for just being in here. Short.
Speaker 1: This is once again just to talk and as you
Speaker 1: educate us all our investments, opportunities, bond stocks and all that.
Speaker 1: I appreciate it. All you folks out here, thank you
Speaker 1: for always participating and being sure we say good stewards
Speaker 1: of this point that we do give out. I'll see
Speaker 1: you guys next week.
Speaker 2: Have a good day and bye. I'm leaving the man