Covid-19 times – Profit or Complain! (Part 1)
It has been a while since I have written anything remotely financial and a lot of changes have come with Covid-19. If you listened to most of the experts then most of what you would hear is that the market is crashing and it is a horrible time to invest. Some persons who were new to the market, especially here in Jamaica, ran out of the market more quickly than they entered. Yes it is a difficult time and many companies lost billions in profits. However, many persons made gains and continue to outperform the market. In this two part post, I want to highlight the two “groups” that I have become apart of which have been tremendously helpful in my navigating this time and keeping gains (realized and unrealized). Disclaimer: I am not a licensed financial advisor and I am not rich….yet! Information can be pretty overwhelming at times and so I had to eventually narrow it down to a few groups. These two are now my primary sources for investment discussions (I still check out other sources but…).
In part 1 I want to talk about Learn Grow Invest. This group is just over a year old and was founded by Renate and Jermaine McDonald. They can be found on Twitter, Instagram, YouTube and Facebook. There is also a WhatsApp group. As a Christian, my most favourite thing about this community is the biblical foundation. Everything done stems from a Scriptural perspective! There are weekly meetings that are broadcasted via their YouTube channel. Each week a topic related to investment is discussed either by the founder(s) or local and international experts. These meetings are not investment advisory sessions. They are meant to provide the investor with information that can aid his/her research. Of course each session starts with a prayer. Please like and share the content you find useful as well as subscribe to the channel. In addition to our weekly meetings, there are mini series featuring short but information filled videos on investing basics.
On Instagram, there are financial quotes which often present the key points from the meetings in a very succinct and unforgettable way. Upcoming meetings are also announced here and the followers are often engaged through Instagram live. These lives are either conducted by one of the founders alone or feature someone else to discuss finances in general or investment specifically. On Twitter, the tweets usually provide a great option for asking or answering questions in addition to the polls that are sometimes done. Occasionally, a twitter spaces might be set up as another means of having a lively discourse about all things financial.
The Facebook community facilitates question and answer as well but it is a bit slower in pace and more manageable than the WhatsApp group. In the WhatsApp group we share pertinent financial results, news articles as well as discuss our investment strategies. There is no competition there, it is not a space for that. Instead, we share with the intention to help each other make decisions that are in our best interests. Who is in the WhatsApp group? Well, I won’t call names but a plethora of expertise exists amongst the members. There are persons versed on budgeting, excel, IT, and of course banking, finance and investments. They really live out the motto of Learn then Grow then Invest and then repeat. To a degree it is holistic even with a primary focus on finance and investing. It is a great space to check out if you want to learn how to invest. The videos are not jargon filled and where jargon is used it is defined. Whichever platform suits your fancy, there is a Learn Grow Invest Club community there for you. So why not check them out and tell me what you think? And grab merch while you are at it! Stay tuned for part 2 when we look at another group.
What have you been doing during Covid? Taking profits or complaining? Which groups help you with investment or other self development?
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