All over the world, the recent economic depression is biting hard on shareholders. The stock market in Nigeria is badly affected too. Musa Al-Faki, the Director General of the Nigerian Securities and Exchange Commission claimed that over 3trillion naira has already been lost in the past seven months. Some of my friends are selling off their investments in the stock market at huge loss! As, I watch the trend, I remember the lesson I learned sometime ago from a stockbroker. The Stock Market worldwide follows the same trend over decades. There will always be a crash sometime some date! Remember the market crash of 1987, some thought that was the end. Well, we lived through it.
So, the market has crashed again! Too bad, many are badly burnt financially, including yours sincerely. Many are selling off their investments at a loss out of panic. But is that the right thing to do? That same stockbroker teacher thought me not to panic whenever the market crashes. It is a matter of time, it will pick up again. It may not be as fast as you desire as an investor, but check the history books, you will confirm that it always does.
The financial news media are already reporting some slight improvement in the international financial market. So, it is advisable that you think twice before you hurriedly sell off your investments for peanuts. You may actually regret that decision in another six months down the line.
So like a wise entrepreneur, it is time to weigh your options carefully and take a decision that you are willing to take responsibility for. Disclaimer: This is just my personal opinion. For expert information, consult your Accountant or Financial Adviser. Cheers.