Fantastic write up, I always assumed the cause of the 2008 crash was a fallout from the global financial crisis so this just opened my eyes to a whole different world and is very telling why my parents say “never again” when it comes to NGX.
This is interesting and it also confirms the saying "Nigeria is a movie", this brought back some memories and gives context to what I heard then even though I had no understanding of what had happened.
This also confirms "Never invest in what you don't understand", and the Nigeria market was moving like Crypto, lol.
I remember the then chairman of FBN lost 11BN during his period. It made the news then. Peter Ololo is still walking freely till this day. This write up is worth archiving!!!
Very interesting read. I had some inkling as to the cases involving the banks but never knew it was this bad. Those CEO's should have spent many years behind bars.
I have an uncle who bought during that period and was burned, but was able to muster the courage to continue investing after many years.
He's made some money from it, but what he's made, accounting for inflation is a pittance compared to what he lost.
Fantastic write up, I always assumed the cause of the 2008 crash was a fallout from the global financial crisis so this just opened my eyes to a whole different world and is very telling why my parents say “never again” when it comes to NGX.
Need to read it 5 more times
Sometimes understanding people's current attitude to investing requires a look into the past.
Nice write up. I now understand why my father doesn't want to hear any thing NGX even if the value goes up by 7×
Same, my parents don’t want to hear anything about it
more sponsored editions! 👏🏽
Amen to that!
I am glad to be part of the generation threading investment with sound knowledge.
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This was beautifully written! 👏🏾 👏🏾 👏🏾 Thank you!
Thank you!
This is interesting and it also confirms the saying "Nigeria is a movie", this brought back some memories and gives context to what I heard then even though I had no understanding of what had happened.
This also confirms "Never invest in what you don't understand", and the Nigeria market was moving like Crypto, lol.
Well done, got a subscriber
Thank you so much. I'm glad you enjoyed it
One of my fav NOADD essays ever (and I'm not saying this because I edited it 😅)
Super insightful!
Thank you so much, my guy!
I remember the then chairman of FBN lost 11BN during his period. It made the news then. Peter Ololo is still walking freely till this day. This write up is worth archiving!!!
Every retail investor new to the equities market need to read this 👏👏
Wow, thank you for this.
Great write-up...
Bank cleaners and drivers were share marketers then....
Some smart alecs of that era got away with it and are now industry statesmen...
All in all......Nigeria is a movie!!!
PS: Do we have parallels with today's investment market? With every Tom, Dick and Kunle having an app and selling MFs and PPs
Very interesting read. I had some inkling as to the cases involving the banks but never knew it was this bad. Those CEO's should have spent many years behind bars.
I have an uncle who bought during that period and was burned, but was able to muster the courage to continue investing after many years.
He's made some money from it, but what he's made, accounting for inflation is a pittance compared to what he lost.
Very sad stuff.
This was quite insightful. I bought into the Geo-Fluids private placement then and got my fingers burned. It has made me a much wiser investor now.
Remarkable that you didn't let it scar you. Well done!
Experience, they say, is the best teacher. I took it as the painful lesson it's supposed to be. But the scar is there as a reminder.