Happy New Year everyone!
It’s a late new year post but I’ve been in my village with really bad internet for the past almost two weeks (for those of you not aware, I’m currently in Nigeria).
I hope you all enjoyed the festive period and are coming into 2019 with a lot of energy and expectation. I wish everyone a great year.
For us this year, there is a lot of work ahead. We recently released the beta version of our dollar investment platform at mycashestate.com. It’s currently invite only but you can still read the landing page to understand what we are offering. The full home page is coming soon.
Our investment club has morphed into an investment platform which should have been live by now if not for some regulatory as well as a few technical issues. Once that is live, we will have a two pronged approach where we invest small amounts ($50-$100) every month into US stocks and US real estate so that we all, including you and any other users who sign up can invest their naira into dollar opportunities and protect themselves from inflation and devaluation while earning great returns in a stable, valued currency. People who want to invest significant amounts in dollar assets that produce cash dividends are welcome to reach out as well.
We see a lot of stress in the global and local economy in 2019. Odds of a recession have never been higher and with Nigeria entering the election period there is a marked increase in uncertainty. The Central Bank has held the naira exchange rate steady but with a ballooning deficit and unstable oil revenues its anyone’s guess how long they can hold that line before they have to devalue.
On the global scene, stocks have continued their downward slide leading to depressed values across the board which at Rumexx Capital we consider a buying opportunity. In the long term, we still think the US stock market will recover but we are hedging our bets by building out a cash producing real estate portfolio through Cashestate.
All in all, 2019 looks set to be an even busier year than 2018. Here’s to our wish that it is filled with far more success, good news and joy than we can ever pray for.
Happy 2019 and happy investing.