Can I achieve 10% returns weekly?

Can I achieve 10% returns weekly?

Dear Editor,

Complements. I’m a guy of 24 working with Warri Refining and Petrochemicals Company Limited as a contract staff and also a weekend student. I have a savings of N100,000 that I will like to invest on stocks. However, my objective is to have my portfolio increase in value by seven to 10 per cent every week by a credible and competent stockbroker. Please let me know if my objectives are achievable because I believe investment should make me richer every week not poorer. It should put money in my pocket every week, not take money out.

John Warri, Delta State.

 

Dear John,

Yes, investments will make you richer, all things being equal. However, the returns rate you expect (which translates to between 378 per cent and 540 per cent per annum) is rather on the high side and I believe few stocks, if any, can achieve that high a returns rate in a year. I think you should scale down your expectations of returns from investments, at least from the stock market to a more realistic rate of say between 10 and 35 per cent per annum. While many stocks outperform these rates, it is usually more advisable to be a little conservative in the anticipation of returns.