9 years old Joseph Sev, believes he would be in a position to help much less privileged talented children someday. Born a twin, poor and raised by a single mother, this talented dancer is no stranger to hardship.
However, the kid is determined to make a difference and excel as a dancer. His story is not unique as there are so many talented kids in need of opportunities to grow. That said, Joseph Sev aka Tboi is standing out amongst many, acting on his dreams.
We shot the video below when we visited the kid’s makeshift home recently. No one should ever be forced to live in such conditions. It is amazing how Tboi continues to excel in school and stay determined to be a great dancer.
In the coming weeks, we will embark on a follow up visit as part of our Hustle & Grow web series. If you would like to support this kid in any form, please do not hesitate to reach out.
6 Types of Stocks You Should Know
If you are new to stock trading, it is important that you have a good understanding of the different classes of stocks. Such knowledge would allow you to make better investment decisions going forward. In this article, we list 6 different types of stocks and what they are about.
Growth stocks are those companies expected to grow sales and earnings at a faster rate than the market average. They often look expensive, trading at a high P/E ratio, but such valuations could actually be cheap if the company continues to grow rapidly which will drive the share price up. Growth stocks typically do not pay dividends.
Examples of growth stocks are; Facebook, Twitter, Zoom, and Snapchat
Blue-chip stocks are huge companies with excellent reputations, often including some of the biggest household names. Investors turn to blue-chip stocks because they have dependable financials and often pay dividends.
There’s this perception among investors that blue-chips can survive market challenges of many kinds; while this may be largely correct, there is no guarantee.
Examples of Blue-chip stocks are; 3M, Coke, P&G, and Johnson&Johnson
Cyclical stocks are affected by macroeconomic changes with returns that follow the cycles of an economy. Cyclical stocks are generally the opposite of defensive stocks. Cyclical stocks include discretionary companies while defensive stocks include staples.
Cyclical stocks usually have higher volatility and are expected to produce higher returns during periods of economic strength.
Examples of Cyclical stocks are; Chevron, CAT, Harley Davidson, and Micron
Common characteristics of value stocks include high dividend yield, low P/B ratio, and/or a low P/E ratio. A value stock typically has a bargain-price as investors see the company as unfavorable in the marketplace.
A value stock typically has an equity price lower than the stock prices of companies in the same industry.
Examples of Value stocks are; Cisco, Walmart, JP Morgan, and Wells Fargo.
A Penny stock refers to a small company’s stock that typically trades for less than $5 per share. Although some penny stocks trade on large exchanges such as the NYSE, most penny stocks are traded over the counter through the OTC Bulletin Board (OTCBB).
While there can be sizable gains in trading penny stocks, there are also equal risks of losing a significant amount of an investment in a short time-frame.
Examples of Penny stocks are; AK Steel, GORO, and Arcadia Biosciences
See How I Am Investing In US Stocks While In Nigeria
With the lockdowns in 2020 and the continued uncertainty around the pandemic, many more people are discovering new ways to make money online from the comfort of their homes. It is no surprise that interest in cryptocurrency, forex, and stock trading continues to increase like never before.
Cryptocurrencies like Bitcoin have shown that there is a lot of potential in Blockchain technology with the global stock market also experience record high returns in 2020.
At the start of the pandemic and lockdowns in 2020, I took it upon myself to research stock marketing and crypto investing. This drive was further encouraged when my elder brother reached out to discuss US stock market investing and Crypto. It felt like he could read me pretty well. The rest is history.
I had reached out to several well-known foreign stock trading platforms directly but got the same response every time.
They are not open to sign-ups by Nigerians in Nigeria. And yes, I’m currently in Nigeria so I can’t use platforms like TD Ameritrade, Webull, Robinhood to trade the US or other foreign stocks. It was disappointing because these are some of the best platforms globally to trade with. And using a VPN wasn’t an option for me.
Nigerians in Nigeria don’t have access to a lot of online money-making opportunities that exist today. It’s amazing how many still go on to do great things for themselves online and I’m not talking about the fraudsters. Those are in the minority.
One thing I have learned over time is that when the going gets tough, you have to get tougher. We never give up or quit. We must continue to find ways to advance. In a bid to find a top-notch platform to trade US stocks while in Nigeria, I found the 4 platforms below;
I went on to sign up with the first 3. I am not even sure why I never got to check out the last one, Wealth.ng. I just might someday soon. I also recently signed up for Passfolio. However, I have not tried trading on their platform yet. Once I do, I will definitely share my experience with you.
I currently trade for a few people with Bamboo and then I use Trove for my personal trading account. This is just to avoid confusion. Although, I would advise that you use more than one trading account if you are serious about stock investing.
I did try to set up an account with Chaka but the initial steps for registration kind of put me off. Based on my experience with both Bamboo and Trove, I would say they are both very user-friendly. They also both have a lot of stock options including but not limited to Chinese and South American stocks.
But one thing that really stood out for me with Trove is the fact that you get 5 free Dangote Sugar or GT bank stocks when you invite someone to use their app. The person you invite also gets the same after he or she is verified and makes a trading deposit.
No matter how many people you invite to use Bamboo, you get nothing. Nothing even a thank you message. Well, I think it’s something they should look into.
Want to try Trove? You can sign up today using the link below. You will get 5 shares of either Dangote Sugar or GT Bank if you use our referral code: LTHJ8K
I know someone out there is reading this and saying ‘why should I trade the US stock market?’
There are some good reasons why you should especially right now. Below are some of the reasons you should see this as an opportunity worth jumping on.
1. You have an opportunity to make passive income as you will continue to make money if the share price of a company shares you own continues to increase over time.
2. The stock market, especially the US stock market, has had its ups and downs but overall it has been very lucrative for decades for many.
3. If you invest in dividend stocks, you earn dividends periodically aside from money earned from an increase in the prices of stock you own. Not all stocks offer dividends though.
4. Stock investing does not have to be your full-time hustle but it can serve as a way to diversify your investment portfolio. For example, let’s say you are a model, you make money from modeling and put the money in a savings account. It’s not yielding anything for you and there is no guarantee that the money would be of the same value and not lower in the months ahead.
But then, imagine taking that money and investing it in the stock market, the money works for you as it continues to increase as long as the price of the stock continues to go up. And all of these you can run yourself today, thanks to growth in the technology that has birthed the above-mentioned platforms and more.
If you have anything to add or have questions please feel free to relate in the comment section. Never stop getting it.