He doesnโt believe there are 20 good stocks on the NGX? Hmmmm, I believe I have heard something similar before.
When GT was trading in the โฆ30s and printing โฆ12-โฆ16, one of my big bros in this game told me something like this. In his word, can you beat your chest and say their financial report is 100% legit? My answer to him was I canโt but are you saying the CBN is in on the wuru wuru too? His response was na you talk that one not me.
Today, this bros holds the same GT, he bought at more than double of what he would have paid at the time. He is still my senior bros in this game sha.
"Up until now the world wasn't taking Nigeria seriously until when President Tinubu came in. Shell pulled out of Nigeria... but February this year, Shell pledged an investment of 20 billion US dollars in our economy. Before Shell makes such an investment, they take a minimum 20-year outlook. That tells you they have looked at the foundation that is being laid by this government." โ Political Scientist, Obafemi George
Bolaji Balogun, the founder of Chapel Hill Denham, on building a good portfolio for a young Nigerian.
He recommends 25-30% dollar exposure, alternatives, and significant exposure to nigerian equities.
He also said he doesn't believe there are 20 good stocks listed on NGX.