It is the fourth week of turning hive rewards into real investments. As mentioned in earlier posts, I intend to bring back the investment returns to hive and continue the process. I think for a couple of months once the investments mature.
Thanks to @terganftp for providing another 5HBD in week three. He has been a huge supporter of the project.
This is the fourth week of that journey and as promised, I will let you know how it's going.
Mutual Funds
At the beginning of week 3, we had 17,089.37. At present the investment is now 18,507.08.
The stockbroker returned some money from stocks purchase that didn’t go through. I invested it in mutual funds.
This means the total return in mutual funds is 18,507.08 from a capital of 18,268.48.
Stocks
It has been a bloodbath in the Nigerian stock market with over 4 trillion naira wiped out. First was the Trump statement and while the market recovered, investors thought it was over.
The latest dip is the worst since 2010 with over $3 billion wiped away and this is all due to new tax law about to be implemented. The introduction of capital gain tax on Nigerian equities caused panic among investors leading to selloffs.
The shares are currently down by 4.48%. That means the stocks worth 14,735.4 are now worth 14,074.95.
I am unfazed because it is a long-term game for stocks and I believe the tide will change in no time. I expect that things will return back to normal by month end.
Nigerian stocks are still massively undervalued especially when you look at the financials, earnings history, dividends and fundamentals.
My weekly progress report is to show you how your Hive rewards no matter how small, they can give you something in real life scenario.
It shows that you don't have to wait before earning 100 USD on posts before investing. You can start small.
TTSLA
In my last update, I saw a comment from @khaleelkazi on TTSLA. I checked and was interested in it. TTSLA is Tokenized Tesla and the first Real World Asset (RWA) launched by LeoStrategy. It is a synthetic token designed to track TSLA shares price on a 1:100 basis.
I saw that as an opportunity to invest in foreign stocks and purchased 2 units for 62 HIVE. It was available at a 20% discount and who would miss such an offer.
The 2 TTSLA is now worth 72 HIVE at asking price. I expect Tesla shares to increase soon which mean TTSLA should appreciate too.
I have also been receiving daily yields from my TTSLA holding in the form of HBD
What I Learned This Week
Compounding is slow but a powerful metric. The Trump news, coup rumor, and capital gain tax on Nigeria stocks caused panic for investors. I expect a rebound soon. Stocks is a long term thing and I am ready to ride the storm
Week 2: 7,000 to 7,029.76
Week 3 mutual funds: 16,930 to 17,089.37
Week 3 stocks: 14,735.4 to 14,222.5
Week 4 mutual funds: 17,089.37 to 18,507.08
Week 4 stocks: 14,222.5 to 14,074.95
Week 4 Tokenized Assets: 62 HIVE to 72 HIVE and 0.01 HBD
See you next week.
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