Today I’m featuring my second young investor in Ghana. Do check out the first and the rest.
Name: Kwabena Amo-Mensah
Name: Kwabena Amo-Mensah
Kwabena Amo-Mensah is a good friend and a promising investment professional with extensive knowledge in securities and financial markets. Any time I speak to him, I go to read more, because he always uses investment jargons that forces me to expand my scope. He is the President of SFIC, a private equity start-up group, deputy finance director at “Heart For Children Africa” a registered NGO that reaches out to children in deprived communities, an investment coach and forex trader. He has a background in accounting and finance and currently at the final stages of ICA Ghana.
President of SFIC (Private Equity Group)
Deputy Finance Director at
“Heart For Children Africa”
He started investing in 2008 after reading Robert Kiyosaki’s “Rich Dad Poor Dad”. Unlike many young people, he invests in Equity and fixed income securities (financial assets).
When I asked him how much his portfolio is worth, His answer was, “I am in the five figures and still growing fast because I invest on monthly basis.” Showing me the figure, he said, “Patrick, You can’t tell people how much I’m worth, I don’t want to turn into a loan company”.. lol
In finding out more about why he invests in Equity and fixed income securities, I noticed that he chose those investment instruments because it quite easy for him to monitor them. He also said, “I feel it is better to have your money work for you without putting in much effort”.
Mistakes from his investing experience?
- He bought some shares because “everybody” was buying. In his own words; “I didn’t really understand why I was buying that particular stock. I was disappointed by the performance of that stock. This happened in 2008”. That brings me the great statement, do not follow the crowd.
- Investing all his money on the stock market: During his “amateur” periods, he said he invested almost all his monies on the bourse with little or nothing in savings (emergency fund). “This forces me to sell my stake anytime I need money to settle emergency situations.” – Kwabena said
- Coming out of the market too quickly: With reference to the second mistake, he said coming out of the market at the time he didn’t plan to come out was a big mistake.
Lessons from Investing
- Stock market investing is for those who are patient. “There are many occasion I regretted coming out of the market”. – He said.
- Don’t put all your eggs in one basket.
- Don’t rely on relationship officers’ advice, talk to the right people. (You should read this to understand him better: Not all relationship managers are brokers)
- Be an expert or get some investment knowledge.
In conclusion, I found out that, he got his inspiration to invest from reading books like “The intelligent investor”, “Rich Dad poor dad”, and “Richest man in Babylon”.
His final words to me were; “Investing in investment knowledge pays the best returns. Never invest in a business or financial asset you don’t understand. Invest consistently – wealth is not acquired in a day; it is acquired daily”.