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Stock Investing for Dummies



Author: 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 chapter’s 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: 08055068773; 08187499425

Email: [email protected]



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ECOWAS Court nullifies ECOWAS Commission staff’s dismissal



The ECOWAS Court of Justice has nullified the dismissal of Mr Momodu Cham, a former staff of the Commission, saying it breached Article 69 of the ECOWAS staff regulations.

Cham had filed the suit following his dismissal from his position as a Procurement Officer with the Inter-Governmental Action Group against Money Laundering and Terrorism Financing (GIABA), a specialised ECOWAS agency.

The applicant, a community citizen residing in Banjul, Gambia, had joined the Economic Commission for West African States (ECOWAS) and its President, as first and second Respondents, respectively, in the suit challenging his sack.

Delivering judgment, Justice Dupe Atoki, the Judge Rapporteur, held that the cessation of Cham’s salary by the Commission before the exhaustion of the appeal process was arbitrary, unlawful, null, and void.

According to Justice Atoki, the action of the Commission is contrary to Article 73(b) of the ECOWAS Staff Regulations.

The Court, therefore, ordered the Respondents to pay Cham his salary arrears and other entitlements from January 2021 to June 2021, as compensation.

It further ordered the Commission to pay Mr Cham’s salaries and emoluments from July to December 2021 as compensation for the unlawful dismissal.

“Requesting an on-the-spot response to charges without prior notice or an opportunity to prepare a defense violates procedural safeguards outlined in the ECOWAS Staff Regulations.

“The regulations are designed to ensure an Applicant’s rights are fully maintained until the Council’s final decision.

“Consequently, the summary dismissal of the Applicant by the 2nd Respondent breached Article 69 of the regulation.

“Therefore, the cessation of the Applicant’s salary and other emoluments after invoking the right of appeal is a violation of Article 73(b) of the ECOWAS Staff Regulations,” Justice Atoki held.

The Court, however, declined to grant any orders for mandatory injunctions against the Commission and reinstatement of the applicant .

The Applicant had contended at the trial that he was suspended on July 11, 2019, following a forensic audit report by Ernst and Young UK, which implicated him in irregularities related to the purchase of IT equipment for GIABA.

He said that on Jan. 26, 2021, he was summarily dismissed, and his salaries and emoluments were withheld in violation of the ECOWAS Staff Regulations.

Cham had prayed the court to grant him several reliefs, including a declaration that his dismissal was arbitrary, null, and void.

He also sought an order setting aside his dismissal and the immediate payment of his salary arrears and other entitlements from January 2021.

The applicant had also prayed for his reinstatement to his position as a Procurement Officer and compensation for costs incurred in prosecuting the suit.

The Respondents, in their defense, had however, maintained that the applicant was properly suspended and later dismissed following a forensic audit report and a subsequent query.

They had also argued that the dismissal was appropriate due to the allegations of gross misconduct, embezzlement, theft, fraud, and abuse of trust.

The three-member panel also had Justices Gberi-bè Ouattara, presiding, and  Sengu Mohamed Koroma, as a member.

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Tinubu names National Theatre after Wole Soyinka



President Bola Tinubu has named the National Arts Theatre in Iganmu, Lagos, after Nobel Laureate, Prof Wole Soyinka.

Tinubu announced this in a tribute he wrote to celebrate Soyinka in commemoration of his 90th birthday.

The tribute dated “Professor Wole Soyinka at 90: Tribute to a national treasure and global icon,” was personally signed by the President and made available to journalists on Friday.

Tinubu expressed his delight to join admirers around the world in celebrating Soyinka, adding that July 13 would be the climax of the series of local and international activities held in his honour.

Tinubu wrote, “Professor Soyinka, the first African to win the Nobel Literature Prize in 1986, deserves all the accolades as he marks the milestone of 90 years on earth. Having beaten prostate cancer, this milestone is a fitting testament to his ruggedness as a person and the significance of his work.

“It is also fitting we celebrate this national treasure while he is still with us. I am, accordingly, delighted to announce the decision of the Federal Government to rename the National Theatre in Iganmu, Surulere, as the Wole Soyinka Centre for Culture and the Creative Arts.”

Tinubu stated that Nigeria not only celebrates Soyinka’s remarkable literary achievements, but also his unwavering dedication to the values of human dignity and justice.

When he turned 80, I struggled to find words to encapsulate his achievements because they were simply too vast. Since then, he has added to his corpus with his series of Interventions, which have been published in many volumes.

“Professor Soyinka is a colossus, a true renaissance person blessed with innumerable talents. He is a playwright, actor, poet, human rights and political activist, composer, and singer.

“He is a giant best riding not just the literary world but our nation, Africa, and the world,” he averred.

According to the President, Soyinka is one Nigerian whose influence transcends the Nigerian space and who inspires people around the world, explaining that since his youth, he has been a vocal critic of oppression and injustice wherever it exists, from apartheid in South Africa to racism in the United States.

“Beginning from his 20s, he took personal risks for the sake of our nation. His courage was evident when he attempted to broker peace at the start of the civil war in 1967. Detained for two years for his bravery, he narrated his experience in his prison memoir, ‘The Man Died.’

“Despite deprivation and solitary confinement, his resolve to speak truth to power and fight for the marginalised was further strengthened.

“Our paths crossed during our struggle for the enthronement of democracy in Nigeria following the annulment of the June 12, 1993 presidential election,” Tinubu stated.

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Tinubu sympathises with victims of building collapse in Plateau



President Bola Tinubu receives the news of the tragic collapse of a school building, which resulted in multiple deaths and many surviving victims in Jos, Plateau, with profound grief.

His spokesman, Chief Ajuri Ngelale, in a statement on Friday, said the President described the incident as a huge loss to the nation, as well as a devastating development – too excruciating to imagine.

“The President condoles with the bereaved families, families of all the victims, and the people and Government of Plateau State.

“President Tinubu commends emergency responders, the National Emergency Management Agency (NEMA), State Emergency Management Agency (SEMA), security agencies, and all citizens involved in the search, rescue, and resuscitation efforts.

“The President assures the people of Plateau State of his fervent support at this difficult time,” said the statement.

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