With a few simple (though not easy) fixes, I think Nigeria’s economy could get back on track next year, and even boom…
Investors are spooked, and passing up top-performing, high-quality businesses in Africa
A quick note from Lagos, where I’ve just set foot for the first time to search for some great value investments. I’ve scheduled a week of meetings with listed company managements and boots on the ground research.
Since I moved to Tanzania in 2020, I’ve come to realize my simple morning routine – dropping my daughter at school before 7am, picking up the newspapers, walking back to one of my favourite cafes and perusing each of them cover to cover – puts me a step ahead of my competitors. They are based many thousands of miles away in different time-zones, and don’t have boots on the ground.
Often, I’m even ahead of the local brokers here in figuring out what the important news of the day is. This can be very lucrative…
For the first two months of calendar 2022 the S&P 500 was down 8.2%. The US bond market, as measured by the iShares 20+ Year Treasury Bond ETF (TLT), was also down by 5.5%.