When The Market Nosedives, I buy more shares. My Name Is Tobe And This Is How I Make My #MoneyRise

image of Tope - when the market nosedives, I buy more shares

When people ask you what do you do, what do you tell them?

My career revolves around the agric value chain – I started as an agric research consultant. Now I’m in academics working as a researcher and lecturer in a Nigerian University. But I am currently on study leave for my doctoral studies in Europe.

What does financial wealth mean to you?

Financial Wealth, to me, means having a stake in the world economy.

It needs to be a source of value so that I don’t need to bother when my next Naira comes not having the “anywhere belle face” mentality.

When did you start investing?

Started in 2015, with Real Estate, then in 2016, Crypto (Bitcoin) 

Why did you start investing? What inspired you

I realised that 3% bank interest was a loss when you consider the charges. But the main push came when I saw an opportunity to buy a plot of land, and I could afford it from my student’s savings. And the final conviction was the constant devaluation of the Naira. When I started, USD was ₦170!!

How do you approach investment today?

I pay attention to Portfolios that are tech-driven, especially those that can add value to the global economy. 

Tech-driven agriculture stands out and, of course, the crypto world. I read, listen to expert analysts, do my research, and make informed decisions.

What tools do you use to invest?

A number of them; FarmCrowdy, ThriveAgric, PiggyVest, Passfolio & Risevest. For crypto, I hold a little on Binance, Luno & Quidax.

What investing hill are you willing to die on?

No matter how low the stock market plummets, it will rise, so I’d instead buy the dip than fall to the temptation of panic sell. I’ve learned my lessons.

Your Lesson? 

It happened when Bitcoin crashed in 2018; I emptied my wallet, thinking the bubble has burst. What was left was ₦200; it’s now worth over ₦25k. I lost because I panicked. But now, when the market nosedives, I either stay put or buy more shares, never sell. Las las it will Rise. 😉

What has been your wildest gain since you started investing

Having shares in Tesla, Netflix, and Amazon (no matter how small, na something). At least I know I can stake a share in my monthly Netflix subscription! 

What also stands out for me is that I am striving to escape constant Naira devaluation by investing in Dollars. 

This Tweet is a rude shock on how our Naira is fairing. 

Have you made any loss since you started investing?

Aside from the loss I made from the panic sale, I haven’t. The stock market is red now but that doesn’t mean I’m losing, I only lose if I decide to bleed my account when the market plummets.

So what’s the secret to not losing money?

Study the market and make well-informed decisions on where to put your money. 

If the market trend is going down, take advantage and buy more shares, otherwise stay put, it will Rise.

But more importantly, use platforms that can help manage your investments so you don’t need to worry your head. 

I use Rise now and so far the journey has been smooth, I’d advise newbies to start out with Rise. And it won’t hurt using my referral code OVIGBDFG 😉.

Now that you mentioned platforms… How has Rise Investment club helped your financial education and journey

I always enjoy the richness of the discussion sessions. It reaffirms some of the age-long wisdom and principles I’d gleaned from books. And when you meet a platform that shares the principles as you hold, it gives some degree of validity. 

Great!! What’s the hardest decision you have had to make since you started investing?

Forming the habit to live within my means after taking out a percentage for investment. And making the decision to either take a loan or liquidate my investment at a time of desperate need.

Is there anything you wished you’d known before you started investing?

Ahhh, I wished I knew about investment and money matters in my undergraduate days. I didn’t start until after my MSc in 2015, and that was because I read books like:

The Rich Dad series & Napoleon Hills’ books. Think and Grow Rich & 17 Principles of Success. George Clarson’s book, Richest Man in Babylon & Jim Rohn’s Financial talk series. 

You know they don’t teach finance in school. I wished I knew all these earlier.

Yeah, IKR? What does a dream investment look like to you today?

Dream? Hehehehe

1. 1 full share each in Amazon, Tesla, Netflix…

2. 2 BTC, 3 ETH, 10 Doge

3. 10% share of Rise investments.

Ahh ahh, Omo: How does this dream compare to your reality now?

Please don’t wake me from this dream. But I’m on this journey for the long haul.

I’ll get there; I have the plan. But the sketch is always to maintain a healthy habit of profitable investments.

How do you feel about your investment position generally today?

I wish I have more stakes.

What will you tell a beginner about investment?

Invest in personal growth and read up articles and books about market trends. 

Do your best to put aside a part of your earnings (it’s called paying yourself). Turn that part as a seed to invest in Real Estate, Stocks, and Crypto markets. 

If not for anything, think of retirement. It is never too early to start planning one’s retirement. What’s happening to the pension scheme now is a big scam.  

Early investment is key; even though the market will go down, in the long run, it will be a massive gain.