Can Stockbroking Still Make Me Rich?
The new generation does not fancy stockbroking as much as our older generation. They do not sample stockbroking as a viable means of the kind of wealth they envision for themselves but is stockbroking really fading out, or times have just evolved and there are now preferable options?
While anyone may argue that there are better options to creating wealth, stockbroking still rewards some people hugely around the world. The recent attempt at First Bank by one of Nigeria’s richest men, Femi Otedola to become a principal shareholder is a good example that there is still juice in a stock acquisition. Even football clubs like Arsenal and Norwich City allow shareholders to own stacks in their clubs. Multimillion-dollar companies like Amazon, Tesla, Facebook and many more also thrive on stockbroking. So, are you still in doubt if stockbroking can make you rich?
Having a basic understanding of what one is going into is necessary to help you understand how your money is working for you. For stockbroking, a basic explanation for a beginner would be the purchasing and selling retail shares/portions of various organizations recorded on the Stock Exchange. The stock trade in Nigeria is known as the (NSE) Nigerian Stock Exchange.
Yes, the advent of cryptocurrencies, FX trading, real estate investment and many other fertile forms of investments have taken over wealth creation today, but you would be surprised at the number of people who still deal in stocks. The opportunity still abounds there, and returns are still very much attractive.
The world-renowned Arsenal football club today was acquired by a group of shareholders with Kroenke as the principal
“The club attracted outside interest as two rival tycoons, Stan Kroenke and Alisher Usmanov, acquired significant shareholdings in 2007. In August 2018, Kroenke’s offer of £550 million for Usmanov’s share was accepted, and Kroenke bought out the remainder of the shares to become the club’s sole shareholder.” – Google
Sometimes in May 2021, Jeff Bezos sold $6.7 billion Amazon shares in just a week. Now imagine those who acquired these shares and their likely returns in the coming years. These are the people who would likely rob shoulders with the world’s few billionaires on Forbes list in the coming years. At every opportunity, shares should be acquired in the right company and environment. If in doubt on how to go about shares acquisition, look no further, reach out to us at BlackCOD Asset Management, for professional advisory on this.