It is the third 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.
Thanks to @terganftp for providing another 5HBD in week two.
This is the third week of that journey and as promised, I will let you know how it's going.
At the beginning of week 2, we had 7,029.76 return from an initial 7,000 investment.
Presently, the investment in mutual funds is now 17,089.37 from capital of 16,930.
Stocks
Don’t forget I also mentioned I will be investing in Nigerian stocks. I kickstarted that within weeks by purchasing 2 banks stocks which are First Bank and FCMB bank shares.
The shares are currently down by 3.48%. That means the stocks worth 14,735.4 are now worth 14,222.5.
I am unfazed because it is a long-term game for stocks and I believe the tide will change in no time.
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.
What I Learned This Week
Compounding is slow but a powerful metric. The Trump news on Nigeria shook the stocks market but I expect a rebound soon with many seeing and standing with the government over Trump ill-informed statement.
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
See you next week.
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