Name: Benjamin Kofi Nyarko
My good friend, Benjamin and a big dreamer like myself, aims at being the first Black benevolent richest man in the world. He started investing in the year 2004 and the drive was to be his ‘own Boss’ in the near future. “I dream of starting companies and listing them on the Ghana Stock Exchange”, He told me. He also attributes his drive to invest and attain his dreams to Robert Kiyosaki and Mike Murdock.
Benjamin chose to invest 60% of his portfolio in Stocks, 30% in Government Securities and 10% in Mutual Funds.
Why the above instruments?
Stocks – Ben chose to invest 60% of his money in stocks because he loves to take risk and maximize his gains. He is also ‘future-oriented’ and believes in saving for the future.
Government Securities – “I started investing in Government securities because I saw it as an avenue to diversify my portfolio, minimize any losses that may arise as a result trading in shares and also use it as a benchmark to evaluate how well have I performed from trading on the stock market.” – He said to me.
Mutual Funds – In conversing with him, he told me he went into mutual funds to serve as his personal investment for his third tier SNNIT. He also said, “It also serves as a benchmark for me on my performance of with the other Investments I have.”
I later found out that, my good friend has been investing in the; stock market for the past 9 years ; Mutual funds for the past 2 years ; Government Securities for the past 1 year.
Mistakes from his investing experience
One mistake that he will never forget occurredwhen he was buying his first stock. He mistakenly asked for information about what stock to invest in from a lay man and right after he bought it, the price of that share fell by almost 60% by the next week. “It almost discouraged me from investing into shares.” – He said.
One lesson he has learnt is to thoroughly research into the stock he wants to buy and closely monitor it until the right time to purchase that stock.
He quickly added, “I have also resorted to buying undervalued shares that have encouraging performance.”
Books he reads include;
Rich Dad Poor Dad, Richest Man in Babylon, Security Analysis, The Wealth of Nations, The intelligent Investor, & The Cash flow Quadrant
In Conclusion, what he has to say is “Never be afraid to make mistakes because the lessons you learn from mistakes stick better than what you learn from books. We all came to this world to make an impact, it will therefore be a tragedy to have lived in this world and not be remembered for making any good impact. ”
Benjamin Kofi Nyarko is an Investment Analyst, Entrepreneur, Cost /Management Accountant. He speaks and writes two (2) international languages (English and French). He has a BSc. Accounting, Partly Qualified ACCA, Diploma in French Language and other certificates in investment from the Ghana Stock Exchange.