Brian Myers, CEO Equiti Capital.
The recent cover of Time magazine labels 2020 ‘The Worst Year Ever’. On so many levels, that is impossible to deny, with the global pandemic taking lives and profoundly damaging the world economy.
Politics has been front and centre, with Brexit and the US elections dominating the headlines for how poorly they’ve been handled and how divisive they’ve been.
But there is another side to this story- especially in the financial markets. The pandemic created the perfect storm for financial trading and wealth generation.
Throughout the world, millions of people were forced into working from home and more millions lost their jobs. Looking for an income online, they began to sign up to brokerages like mine- Equiti Group (EGM Securities/ FXPesa). From Nairobi to Bogata, London to the Middle East, tens of thousands of clients came to us to give them secure access to the excitement of the global financial markets- and it didn’t disappoint!
Oil prices turning negative, Gold on a rollercoaster ride, current Sterling weakness, Stock markets hitting record highs and big tech stocks making incredible gains, all created potential never seen before.
Before you could catch your breath the next high or event occurred. As seen so many times over history, the stock market punished those that fled in fear, with the coronavirus dip recovering in no time at all. Perseverance is the secret to all triumphs. So it was that traders armed with the right knowledge, capital and patience have arguably had the best financial year of their lives.
So what will 2021 bring? There are several themes I see coming through in Africa that I’m particularly excited about. There will be huge numbers of African traders entering the market for the first time.
We will continue to see those from diverse backgrounds becoming interested in short term speculating and long-term investing. There will be more women balancing the gender divide amongst traders. Africans want so much more than local equities and bonds and are now focused on multi-asset opportunities across the world, searching for returns such as the 800 percent Tesla (TSLA) stock owners have enjoyed this year.
It is fantastic that across the globe more people of all ages, gender and backgrounds are deciding to focus on their finances. It’s incredibly important. I feel a tremendous responsibility with this, as those fresh to this world need educating and care.
As Warren Buffet reminds us simply “risk comes from not knowing what you are doing”, and it’s vital that these clients are housed with licensed brokers that help them through the early stages. Don’t send you monies to places that aren’t regulated, it just isn’t worth the risk. Once you have found your home, then I hope you enjoy the ride and have fun, like I have for many years.
Follow me on Twitter @bjmyersUK for a little help on your journey to financial freedom. I wish you and your families good health and a happy Christmas if you celebrate it. I hope that 2021 is your best year ever.
Brian Myers, CEO Equiti Capital
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