Lately, I have been getting calls and whatsapp messages about ‘buying gold from Menzgold’ as an investment. And I guess this is due to the intensity in the Menzgold advertisement on TV and billboards with high-class celebrities after the Bank of Ghana warning on Menzbanc.
Let me begin by saying that Gold is a great investment depending on what happens in the market after you purchase it. Some investors invest in gold only when there is uncertainty in the stock market. Others are trading gold as derivatives in addition to other metals on commodity exchanges.Read More »
The SSNIT Investments Series revealed that, the Trust currently has share interests in 23 out of the 37 companies listed on the Ghana Stock Exchange (GSE), with a total value of GH¢1.8 billion as at June 2017. A portion of the Trust’s shares in Tullow Oil Plc is also listed on the London Stock Exchange (LSE). The composition of the Trust’s Listed Equities Portfolio is below:Read More »
The Ghana Stock Exchange (GSE) has with effect from Monday, August 14, 2017 suspended the listing status of UT Bank Limited indefinitely.
UT Bank has failed to publish its financial results since the end of its financial year December 31, 2015. The non-publication is in breach of the continuing listing obligations under the GSE Listing Rules. The GSE has collaborated closely with Bank of Ghana (BoG), the regulator for banks on this matter.
The suspension has also become necessary due to the revocation of the licence of UT Bank by BoG effective Monday, August 14, 2017 in a letter to the Exchange dated August 11, 2017. In the said BoG letter, the BoG has approved a purchase and assumption agreement by GCB Bank Limited to acquire the total deposit liabilities and some selected good assets of UT Bank.
The GSE will continue to collaborate closely with BoG and the Securities and Exchange Commission to ensure that the interest of shareholders of UT Bank are protected in accordance with the GSE Rules and any guidelines or notices that may be issued by BoG.
Further information through Press Releases will be published as appropriate.
Thomas C. Corley studied millionaires for 5 years and realized these rich habits for accumulating wealth. I just feel like sharing them with you.
1. Pursuing daily growth. Daily self-improvement is a hallmark of self-made millionaires. They read at least 30 minutes a day to gain knowledge. They also devote significant time every day to practicing and perfecting their skills.
2. Dream-setting. The rich build goals around each of their dreams. This makes it possible to realize those dreams. Think of every dream as a rung on your own ladder. Your ideal, perfect life is realized when you reach the top of the ladder. Eighty percent of the self-made millionaires in my study built goals around their dreams.
3. Saving. Ninety-four percent of the rich saved 20% or more of their income for many years prior to becoming rich. They then put their savings to use by taking calculated risks.
4. Taking calculated risks. Fifty-one percent of the self-made millionaires in my study took a calculated risk in time and money. Calculated risk is a unique type of risk that requires you to do your homework.
5. Being optimistic. Seventy-one percent of the self-made millionaires in my study were optimistic about life. Their optimism infected everyone around them. They became magnets for other success-minded people.
6. Being open-minded. Being open to new ideas, new ways of doing things and the opinions of others is critical to learning and growth. Growth is the parent of success. You must grow into the person you need to be in order for success to visit you.
7. Finishing what you start. The rich don’t quit. They stick to something until they succeed, go bankrupt, or die. Eighty-percent were focused on achieving some goal and 55% spent one year or more on one singular goal.
The stock market returned 0.36% at the close of trading today, following gains in five equities. The GSE-Composite Index and the GSE-Financial Stock Index closed at 2,275.74 points and 2,100.02 points respectively. The 8.15 points leap in the market benchmark pushed the year-to-date return to 34.73%.
A total of 0.76 million shares were traded for GHS1.16 million. Trade volume and value doubled compared to trades from the previous session respectively. TOTAL dominated trading with 51.45% of the shares traded and 75.26% of the total trade value.
EGL reached a new year-high after gaining GHS0.22 to close at GHS2.90. Other gainers were CAL, GCB, GOIL, and UNIL. UTB was the sole loser.
The GSE Composite index closed at 2,253.98 points, a 0.09% increase from Tuesday’s closing of 2,251.91 points. The GSE-Financial Stock Index also went up to close trading at 2,073.85 points from 2,071.06 points.
A total of 1.02 million shares valued at GHS 2.53 million traded. Today’s volume exceeded the previous sessions by 49.67% whiles the value on the other hand, dropped by 12.42%. EGL led the market in terms of volume and value with 71.10% of the total volume and 77.29% of the value traded.
If you have noticed, my stand on investing in cryptocurrencies has been really shaky because it is something I don’t understand too well and cannot comprehend how cryptocurrencies can become the future currency. People who call me for advice on this didn’t get anything solid but skepticsm and doubt of the prospects of these cryptos.
The buzz has caught many people in believing that but I have always had some reservations.
Crypto currency is being priced and not valued. Looking at the charts on Bitcoin performance and what moves a lot of people into thinking it is the way forward, it is only the pricing that is being focused on. The actual value of it, I cant tell. The sad and scary thing is, there is no Centralised Authority for all these cypto-currencies like all other securities.
Unless the technology behind crypto-currencies advance beyond what I am thinking now, it’s just going to keep trading as a derivative and not become a true currency or a replacement of our currencies. You can’t value a currency, you can only price them against other currencies – exchange rates. It is quite sad that most young people are beginning to see crypto currency as the gold.
No body can tell you better. Get the full explanation and intellectual analysis of the future of Crypto currencies and how they can never be accepted as currencies from my coach , valuation expert, Aswath Damodaran – Professor of Finance at the Stern School of Business.