Improve your grooming habits, never stop learning, understand the concepts of delayed gratification and compounding, tap into the power of focus, be kind (but not naive).
Most importantly, take good care of your health. Next of Kin no dey collect change!
The reliable paths to wealth:
- building a (successful) private company;
- owning a large stake in a (successful) public company;
- serving as a highly compensated executive;
- selling a company;
- receiving stock options; or
- another concentrated entrepreneurial activity.
Anytime I come back to Nigeria after staying away for months, in the first few days, I’ll see all the faults in our system. From the airport, to the road users, to the everyday people, to the trash along the road, to the poor drainage system, to the unkempt environment, to the epileptic power supply, to the generally accepted madness.
However, after a period, I’ll stop noticing those glaring abnormalities. Not because they have stopped existing, but because they are now normal to my eyes. That is why it may be difficult to explain our abnormal system to Nigerians living in Nigeria.
One Sunday morning in NYC, I went to meet my friend for coffee. I was wearing a hoodie and athletic pants, the usual for guys on a weekend morning
I remember my friend showed up wearing awesome clothes and I asked him why he was dressed up. He said he'd just decided to always wear nice clothes wherever he goes
I loved his attitude. Complete and total abundance.
I now don't believe in saving nice things for special occasions. I take my favorite bag to the gym. I wear a vicuna sweater for coffee. I drink coffee out of a beautiful hand-made ceramic mug every morning and I let my friends and family borrow my apartment for weeks at a time. My nicest things get the most use
I used to worry about scratches and stains. Truthfully, maybe .01% of the time, it happens. But now those scratches represent using beautiful things getting used in daily life
Beautiful things are meant to be used. They're meant to be shared with the people you love. Don't save your china for a special occasion
Believe me: Life gets a lot better when you stop treating every inconvenience like it's the end of the world. Flat tire. Delayed flight. Someone cancels on you. Most things aren't ruining your day unless you decide they are.
Prof. Osuide always told me that “time and place” are the gifts God gives to us; we do the rest with them. What have you done with the time and the place that you have? That should be how you assess yourself daily. No post mortem, no jealousy. Constant improvement and gratitude.
The World Cup begins tomorrow, and many will watch the matches. Soccer reminds us of something we must not forget: life is not a race to show off on our own, but a path we learn to walk together. Anyone who does not know how to pass the ball, even if they have talent, has not yet understood the game. Anyone who does not know how to live with and for others has not yet understood life. #ApostolicJourney
Keep money in money market mutual funds for cushion.
In treasury bills for certainty.
In stocks for compounding.
In real estate for concrete value.
And in other ventures for creativity and growth.
Wealth is not built in one basket.
Diversify wisely.
@eagleseyeinc real life is much slower, messier, and far less linear. Most worthwhile things wealth, mastery, confidence, relationships compound over years, not viral moments
One non-trivial thing I was forced to achieve this year was to stop impulse buying. I simply canceled my Amazon Prime and Costco accounts. Nothing sold, nothing bought. This is harder to do than people think.
I realized my life was good enough on the consumption side; I had everything I needed already and more. I needed only to optimize for more consistent income and cash flow.
I am also brutal about digital subscriptions now. I removed Hulu and Disney as nobody was watching them. I am only subscribed to Peacock until the end of this English Premier League season. Killed ChatGPT and others, and focused on Claude.
I used the Rocket app to trim my subscriptions again. It also helped me years ago by saving me $700 a month. I didn't realize I was paying for subscriptions I never used. These things pile up.
It is funny how someone else's passive income stream can become your passive spending problem. One thing I also realized is that you don't have to optimize every aspect of your life all the time to be fully functional. Only the really important parts.
Comfort is addictive; we sometimes don't know when to stop until we are forced to. My goal was always to spend less, but I didn't realize I was getting sucked into spending more until I woke up. This book by @morganhousel is life-changing.
Most serious wealth is built between 45-65. The obsession with "starting at 25" makes people who start later feel like they've already lost. You are not late. Warren Buffett made 97% of his wealth after 52. That's not motivation poster material, that's compound interest math.
Michael Jackson had to cut a deal with a drug lord to film this video. The Brazilian government tried to block the shoot. A judge banned the filming. The police refused to enter the area.
Rio was bidding to host the 2004 Olympics and didn't want the world seeing footage of its poorest neighborhoods. So Spike Lee walked into the favela (Rio's version of a hillside slum) and found the local crime boss. His name was Marcinho VP. He ran one of the city's biggest gangs, Comando Vermelho. He also happened to be a huge Jackson fan, and he provided the whole production with security for free.
A higher court eventually overturned the ban. The police still wouldn't go in. So 1,500 police officers and 50 residents acting as security guards sealed off the favela. Jackson arrived by helicopter. He walked the streets handing out candy to the kids. The people who lived there had woken up early that morning to sweep the streets and take out the trash before he got there.
Mid-shoot, two women burst through security. One knocked Jackson flat. Spike Lee helped him up and he kept dancing. That exact take is in the final video.
For the Salvador half of the shoot, he worked with 200 drummers from a local group called Olodum. The media coverage put them on the map in 140 countries. They'd been a regional act before the shoot. They became a global one after.
Over 200 million people watched the premiere around the world. The song itself peaked at #30 in America. In Germany it went to #1 and stayed on the chart for 30 weeks, the longest run of any Jackson song there. The video crossed 1 billion views on YouTube in 2023. Only one other Jackson video has done that: Billie Jean. He's the first solo male singer from the 1900s with two videos over a billion.
The day after Jackson died in 2009, Rio's mayor announced they'd put a statue of him in the same favela where the video was shot. Locals said the turnaround of their neighborhood started with his visit.
Africa accounts for 2.5% of the world's GDP.
But less than 1% of global capital markets.
Relative to the size of its economy, Africa is underrepresented in virtually every asset class — in some cases, by a factor of ten or more.
That gap constrains development.
But it's also an opportunity.
The only way to outsized returns is by making non-consensus bets that turn out right.
And Africa's clearly non-consensus right now.
As global allocators increasingly seek growth exposure beyond sluggish, saturated markets, today's contrarian bet on the continent could fast become tomorrow's consensus.
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Afridigest Intelligence — real intelligence to win in Africa's growth markets: https://t.co/pTeD1UjMLQ | Follow Afridigest on LinkedIn & Instagram