Investing in stocks: Share your thoughts.

In a recent conversation with a friend, I asked him whether he had heard of Fiverr. He answered that he had never heard of it, so he asked me what I knew.

I also replied to him, saying that I knew nothing about it as well. We agreed to look it up together and learn more about it. We ended up discovering that it is a website where you can post any service you are offering, starting at $5.

_{Photo by Leeloo Thefirst from Pexels}

I went on to tell him that I asked someone earlier how one could increase income using their PC and internet connection, excluding Hive and the other sites I know of for now.

I mentioned to him how my conversation with the other friend went, and how the friend suggested a Forex trade to me. I responded by saying that Forex trading was the last thing I would consider.

In our conversation, another friend of mine shared his thoughts on Forex trading.

His opinion was that normal people would be unable to make any money in forex because top institutions have huge computing power with fine-tuned algorithms that profit off each one's moves. In addition, he said that it would be difficult to compete against their speed or the information they get ahead of us.

My friend warned me, saying, "Jessica!" Be careful not to get scammed.

He advised that I get involved in traditional investment instruments like Stocks, Bonds, Tabs, Commercial papers, and Mutual Funds.

From there, I build funds for property investment and business investment.

He said that most of what folks call investments, are at best, HIGH - RISK - SPECULATION.

In addition, he does not want to get too deep into CRYPTO - He feels he must follow the space conservatively and for the long haul.

And it must be built around Bitcoin, Ethereum, Ripples and highly proven DEFI virtual assets.

The investment must come from "disposable income" or income earned from "crypto-enabled sources".

That was his position.

Further, I explained to him that I was not familiar with those traditional investment methods. In addition, I mentioned Ecclesiastes 11:1, which encourages foreign investment.

Using Import & Export as examples of foreign trade, he explained that Foreign Direct Portfolio Investment and Foreign Direct Investment also fall under this category.

Moreover, he said I should situate foreign trade with my local content because economics is dynamic. That is to say, what is favourable today might not be tomorrow.

For us in Nigeria, due to Foreign Exchange issues and other government policies, Export is the in-thing and not Import.

However, he told me it required further schooling anyway.

But first, he said I should de-emphasize crypto and trade with the utmost caution, but also said I should not remain out of crypto.

He finalized his opinion, saying that we should be wise....This is because we have suffered some setbacks in this space and should know better.

After listening to everything he had to say, I asked him what the best course of action was, and he replied that investing in stocks was the cheapest way to go.

Bonds and Treasury bills require a reasonable amount of money to reap reasonable returns.

However, he said I could also engage on a low scale. This means I could invest small amounts and still get returns. He said that small investments can still add up over time and can provide a good source of income. He also recommended investing in stocks and mutual funds.

Aside from that, he explained that there are mutual funds as well. He mentioned that studying materials on stocks and bonds would help me build a basic understanding.

Also, he clarified the meaning of stock. Stocks are shares, equities, banking, telecommunications, agricultural stocks, etc. He emphasized the importance of diversifying one's portfolio in order to minimize risk.

He also highlighted the importance of doing research before investing in stocks. Finally, he mentioned that investing in stocks should be done with the guidance of a financial advisor.

After our conversation, he concluded that highly profitable stocks with extremely strong financial fundamentals are good long-term investments. How do you feel about this? I agree that investing in stocks with solid financial fundamentals is a smart move.

However, I would also suggest diversifying your investments to reduce the risk of losses.