Investors have been advised to take advantage of the low prices of shares and increase their investment at the stock market. The Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, gave this advice while speaking during a courtesy visit by Capital Market Correspondents Association of Nigeria (CAMCAN) to the bank in Lagos.
According to him, it is the better to invest when prices are low. Okonkwo said most investors are still reluctant to patronise the stock market because of their experience during the last market down turn. “Now that prices are low, is the best time to invest and as things turn around, people will harvest.
Like Warren Buffet said, ‘be greedy when others are fearful and be fearful when others are greedy’. People are greedy when the market is rising because they can see and fearful when the market is down. Unfortunately, for many Nigerians the only time they knew about the market was when the market was booming, people were putting their money and they lost their money. So many of them are still skeptical about shares” he said.