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Stock Investing for Dummies

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Editor:            Paul Mladjenovic

Publisher:       Wiley Publishing, Inc.

Reviewer:        Goke Ilesanmi

One of the fastest and easiest (though also risky) routes to achieving financial sufficiency is stock investing. It is therefore important for us to X-ray this book christened “Stock Investing for Dummies” to educate people on stock investing. It is written by Paul Mladjenovic, a certified financial planner (CFP), consultant, writer and public speaker.

According to this author, stock investing is a great topic that is fascinating. Mladjenovic says although the stock market has served millions of investors for nearly a century, recent years have shown that a great investing vehicle such as stocks can be easily misunderstood or even abused. He educates that the great bull market of 1982 to 1999 came to a screeching halt in 2000. This consultant says investors at the tail end of a bull market often think that stock investing is an easy, carefree, mindless way to make a quick fortune.

This text has five parts of 24 chapters. Part one is generically christened “The essentials of stock investing” and contains five chapters. Chapter one is entitled “Exploring the basics”. In the words of Mladjenovic here, “Stock investing became all the rage during the 1990s. Investors watched their stock portfolios and mutual funds skyrocket as the stock market experienced an 18-year rising market (or bull market). Investment activity in the United States is a great example of the popularity that stocks experienced during that time period….”

This author adds that the stock market is a market of stocks and a market like any other market. “The stock market is an established market where people (investors) can freely buy and sell stocks because they seek gain in the form of appreciation…or income…or both,” educates Mladjenovic.

Chapter two is based on taking stock of your financial situation and goals. Here, this author says investing in stocks requires balance, but investors sometimes tie up too much money in stocks and therefore put themselves at risk of losing a significant portion of their wealth should the market plunge. He adds that then again, other investors place little or no money in stocks and therefore miss out on excellent opportunities to grow their wealth. Mladjenovic says a disciplined investor also has money in bank accounts, bonds, mutual funds, etc.

In chapters three to five, Mladjenovic discusses concepts such as defining common approaches to stock investing; recognising the risks and getting a snapshot of the market.

Part two is summarily woven together as “Before you get started” and covers four chapters, that is, chapters six to nine.

Chapter six has the thematic focus of gathering information. Here, this author educates that knowledge and information are two critical factors in stock investing. He expatiates that people who plunge headlong into stocks without sufficient knowledge of the market in general, and current information in particular, quickly learn a negative lesson.

In chapters seven to nine, Mladjenovic analytically X-rays concepts such as going for brokers; investing for growth; and investing for income.

Part three is based on the eclectic subject matter of picking winners, and contains four chapters, that is, chapters ten to 13.

Chapter ten is entitled “Running the numbers: Using basic accounting to choose winning stocks”. Here, Mladjenovic says stock picking can seem like a combination of art, luck, timing, and science. He stresses that when you turn to the so-called experts, you get all sorts of opinions, which frequently are contradictory. The most tried-and-true method for picking a good stock starts with picking a good company, Mladjenovic advises.

In chapters 11 to 13, this expert discusses concepts such as decoding company documents; analysing industries; and money, mayhem, and votes.

Part four is generally tagged “Investment strategies and tactics” and covers six chapters, that is, chapters 14 to 19. Chapter 14 is entitled “Taking the bull (or bear) by the horns”. According to Mladjenovic here, understanding the investment environment may even be more important to your wealth-building success than choosing the right stock.

Chapters 15 to 19 are based on the subject matters of choosing a strategy that is right for you; stopping in the name of money; getting a handle on DPPs, DRPs and PDQ; looking at what the insiders do; and tax benefits and obligations.

Part five generically focuses on the part of tens and covers five chapters, that is, chapters 20 to 24. Chapter 20 is entitled “Ten things to think about before you invest”. According to Mladjenovic here, before you invest in anything, you must have a strong economic foundation, have complete understanding of the types of investments appropriate for your current situation in life and educate yourself about financial and investment matters, guides Mladjenovic.

In chapters 21 to 24, this expert beams his intellectual searchlight on concepts such as ten things to remember after you invest; ten signals of a stock price increase; ten warning signs of a stock’s decline and ten ways to protect yourself from fraud.

The concepts discussed in this book are well-researched, educative and fantastic. As regards style, one thing that works for this text is the simplicity of language. There is the use of graphical embroidery, especially cartoons, to achieve visual reinforcement of readers’ understanding and soften otherwise too much seriousness of the concepts.

However, even though the title is meant to communicate the depth of research and didactic prowess of the text, it somehow sounds derogatory. It should have been something like “Stock Investing Simplified”. Generally, this text is fantastic. It is a must-read for anybody that wants to create wealth through stock investing.

GOKE ILESANMI (FIIM, FIMC, CMC), CEO of Gokmar Communication Consulting, is an International Platinum Columnist, Professional Public Speaker, Career Mgt Coach and Certified Mgt Consultant. He is also a Book Reviewer, Biographer and Editorial Consultant.

Tel: 08056030424; 08055068773; 08187499425

Email: [email protected]

Website: www.gokeilesanmi.com.ng

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LASG connects over 688,000 poor households with stakeholders for poverty reduction

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…Certifies 603 pre-payment certificates for projects across 20 LGAs

By Sodiq Adelakun

The Lagos State Government has taken a significant step towards reducing poverty in the state by connecting 688,759 poor and vulnerable households on the register with SFMDAs, development partners, corporate organizations and other relevant stakeholders.

This was announced by the Honourable Commissioner for Economic Planning and Budget, Mr. Ope George, at the 2024 Ministerial Briefing held on Thursday at the Bagauda Kaltho Press Centre, Alausa, Ikeja.

According to the Commissioner, the Ministry has successfully registered 688,759 heads of poor and vulnerable households, comprising 2,681,507 members, as validated by the National Social Safety-Nets Coordinating Office (NASSCO), Abuja.

He revealed the registration has enabled the state government to provide a holistic approach to poverty reduction, improving the livelihoods of households through connections with Social Fund for Millennium Development (SFMDAs), development partners, corporate organisations, and other stakeholders.

According to him, “As a Social Protection Nexus and the custodian of the Lagos State Single Social Register (LASSR),

“The Ministry has been able to register 688,759 Heads of Poor & Vulnerable Households and 2,681,507 Members of Households as validated by the National Social Safety-Nets Coordinating Office (NASSCO), Abuja. The LASSR is hosted on the State’s website.

“These efforts aligned with Mr. Babajide Olushola Sanwo-Olu’s T.H.E.M.E.S+ agenda.

“Deepening the Mining Process, the Ministry is currently mining data for various stakeholders, including Socio-Functional Ministries, Departments, and Agencies, Development Partners, Civil Society Organizations and Philanthropists to facilitate access to Social Intervention programmes aimed at uplifting the Poor and Vulnerable Households.

“A total of 592,602 Poor and Vulnerable Heads of Households (PVHHs) have benefited from various social interventions Statewide.”

Also, while speaking the commissioner announced the certification of 603 Pre-Payment Certificates (PCs) for projects executed across all 20 Local Government Areas (LGAs) in the state.

He said the certified projects were carried out collaboratively by 46 Ministries, Departments, and Agencies (MDAs) in partnership with 410 contractors, covering both direct labor and outsourced services.

The projects span across nine sectors, including Economic Affairs, Education, Environmental Protection, General Public Services, Health, Housing and Communities Amenities, Public Order and Safety, and Social Protection.

According to the breakdown of Pre-Payment Certificates PCs, it was gathered that across nine critical sectors reveals a concentrated effort towards economic advancement, education, environmental protection, public services, health, housing, and public safety.

With 256 PCs allocated to the Economic Affairs Sector, 77 to Education, 75 to Environmental Protection, 62 to General Public Services, 47 to Health, 77 to Housing & Communities Amenities, and 9 to Public Order and Safety, the Ministry underscores its commitment to holistic development and sectoral progress.

Also, the Ministry has made significant strides in its efforts to promote economic growth and development in the state.

“The State through this Ministry has led another milestone delivery, as the first State to publish a State specific economic update tagged ‘Lagos Economic Development Update’ (LEDU) Report.

“The report summarises the State’s macroeconomic outlook, economic journey and prospects; projects the economic landscape and gives insight into the sector’s productivity for ease of access to economic growth and development,” He reiterated.

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Oyo Govt unveils free technology skill training for 1,000 students

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As part of its effort to    ensure quality and  sustainable development in the education sector in line with the Omituntun 2.0 Agenda of the state governor, ‘Seyi Makinde, the Office of the Human Capital Development has revealed its readiness to train 1,000 senior secondary schools students on free coding and non-code technology skills.

The Executive Assistant to the Oyo State Governor on Administration, Revd. Idowu Ogedengbe, stated this on Friday, during a Press Briefing held at the Governor’s Office, Secretariat, Agodi, Ibadan.

Ogedengbe noted that the initiative, which is aimed at launching a groundbreaking technology programme to empower senior secondary school students across the 33 Local Government Areas of Oyo State, with technology skills, will be implemented in partnership with some private investors in the technology sector.

He maintained that the training, which will be held between July 15th and July 19th at the International Conference Centre, University of Ibadan, will begin with selected schools in all the eleven (11) local governments in Ibadan Main and Less Cities, while other beneficiaries from the remaining local governments will be trained at a subsequent date.

He said, “This pilot programme will witness an unprecedented event where 1,000 senior secondary school students from the 11 local governments of Ibadan will receive specialised training in coding and non-code tech skills.”

“The next phases of the initiative would see us taking the training to the remaining LGAs with a view to ensuring that the impact is widespread and even across all the constituencies in Oyo State.

“This initiative marks a significant milestone in our commitment to providing quality education and preparing our youth for the challenges and opportunities of the 21st century.

“CodeGarage Africa has been at the forefront of promoting digital literacy across Africa, and we are delighted to partner with them in this endeavour with the support of Zeeh Africa and 386Konsult. We aim to equip our students with the tech skills and knowledge necessary to thrive in the increasingly digital world.

“The importance of coding or non-code tech skills cannot be overstated in today’s society, from driving innovation to solving complex problems, tech skills are a fundamental skill that opens doors to countless opportunities.

“Introducing coding education to our senior secondary school students will allow us to lay the foundation for a future where they can excel in technology-driven fields and contribute meaningfully to the development of our state and beyond.”

Ogedengbe added that the programme is in tandem with the vision of Governor Makinde on education, as his government’s policy is not only to invest in the future of the youths but to also position Oyo State as a hub for innovation and technological advancement.

He, therefore, encouraged stakeholders, including parents, educators, and the private sector, to support and participate in the laudable programme to unlock the full potentials of the young stars to become leaders in the digital age.

In their remarks, the partnering private investors, CodeGarage Africa, Miss Dolapo Ayeni and her counterpart, Zeeh Africa, Mr David Adeleke, said training the students from the grassroots level is very useful to the ecosystem.

They added that it is another way of catching them young and also exposing them to entrepreneurship, even as they called for more partners to collaborate with the Oyo State government.

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We registered below 3,000 data controllers, processors despite identifying 500,000 — NDPC Commissioner

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By Matthew Denis, Abuja

The National Commissioner and Chief Executive Officer of Nigeria Data Protection Commission (NDPC), Dr. Vincent  Olatunji has disclosed that the level of compliance for the registration by data controllers and processors given by the commission is still low.

He revealed that they have only registered below 3000 Data controllers, processors despite identifying 500,000 in the country.

The Commissioner made the disclosure during an exclusive interview with Nigerian NewsDirect at his office in Abuja on Thursday.

Recall that the agency has notified all entities, including businesses, educational institutions, healthcare providers, and other organisations that collect personal data of individuals, that registration is mandatory in accordance with Section 5(d) of the Nigeria Data Protection Act, 2023.

The Commission had commenced registration on January 30th, 2024 to conclude on June 30th, 2024 and added that entities that fail to register within this time frame will be subject to penalties.

Dr. Olatunji while speaking to NewsDirect said, “the ecosystem  is just revolving and a lot of people don’t really understand what we’re talking about regarding Data controllers, Data processors. That’s why we’re going loud to create awareness.”

 The Commissioner stressed that they’re done with the first phase and very soon they will commence with the second phase the need for them to register which speaks on the reputation  of their organization, compliance and credibility and one thing that this will create is trust and confidence in your data processing activities  as an organization.

“We have up to the end of June, 2024 for all of them to register and we’re starting another massive campaign for them to register in the next two weeks.”

According to him in terms of compliance for registration with the commission the situation is still low.

He said, “When we started in 2022 we had about 1,777 data controllers and processors and last year it rose to over 2,000 but it’s very low when compared to the number of data controllers and processors we have identified in the country.

“We have identified about 500,000 and today we’re doing less than 3000 that means we have not even started at all, that is why we’re speaking to stakeholders and bringing everybody onboard.

“We have released the guidelines strategy telling you who qualifies as a Data controllers and processors and their categories in the country.”

The Commissioner emphasised that it’s their expectation that Nigerians will embrace the programme and key into it for the safety of the country with accurate data collection and protection.

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