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Missed Out On 130 Million/-
LosAngeles~254
#1 Posted : Sunday, January 06, 2019 5:52:13 PM
Rank: New-farer


Joined: 1/6/2019
Posts: 34
Location: L.A. 90010
I've learned so much from people here on Wazua over the last +10 years, I wanted to share a true story with you guys that it may benefit you as it has me.

My neighbor in Nairobi baba Jimmy just passed away a few days ago at the age of 74. His family and ours had become pretty close over the last 44 years we'd been next door neighbors so he talked to me a lot - like a father to son.

Especially since he got sick in the last few years, every time i went home he took it upon himself to sit me down and share lots of advise on women, business and life in general.

So last December he told me this story how in 1977, he had done a deal and ended up making 24,000/- profit. He had the money in the bank.

Later, a certain broker told him of some land being sold. So they went to check it out. It was a 5-acre land, touching tarmac on the outskirts of Nairobi. The owner wanted 22K for the whole place.

The place looked as remote as you can imagine. Trees and grass as far as the eyes can see.
As they were walking around the land, a gazelle (Mama Jimmy swears it was a hyena Laughing out loudly ) leaped out from the brushes and ran across the shamba followed by its young kid.

Mama Jimmy had heard enough. She went back to the car, and waited for mzee. When he got back, she told him there's no way in hell that place will ever develop. He told me, she discouraged him all the way home and eventually he said to himself "well, maybe she's right" and gave up on the land.
They went on to buy some matatu and set up some pubs in Eastleigh which all proceeded to fail in a few years. In all honesty he died almost penniless, and unable to afford the medication and therapy he needed to treat the prostate cancer he's had for the last 4 years or so.

That outskirt area he'd declined to buy in '77 is today's bustling Kitengela town. That same 5-acre land is worth about 130 Million shillings today (an eighth goes for 3.5million).

It's a story he told with a lot of pain/regret in his eyes. It makes me think a great deal about the saving & investing choices we make when we are young and what they'll cost us in terms of future profits. His decision to not buy cost him 130 Million.
Rest in peace baba Jimmy tho' ...we'll forever miss you ✌.
God. Real Estate. Fast Cars. Hot Chicks. Philanthropy.
MugundaMan
#2 Posted : Sunday, January 06, 2019 7:23:12 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
Laughing out loudly Laughing out loudly Laughing out loudly

Karibu Wazoo, brathee
Same thing happened to me - but in 2009 as i have narrated hapa several times. I gnashed teeth bitterly for several years as I watched the parcel I passed over go up, up, up up, up upppp in price like a NASA rocket, while I sat on the sidelines trading stocks furiously like fellow Wazooan Mutaga. Back then I would write long complex reports with P/E BV and leverage ratios, still thinking I was very smart. But as the returns on said parcel I passed over rocketed even more I said jameni enough is enough! Only a fool does not change his mind when the evidence counter to their thinking is overwhelming. And the rest is history. Now I own several parcels way out in the boonies. Some have zebra idling around Maasai goats fuaaa but in 20 years time they too will be worth 30m each minimum. This is how a dyed in the wool Graham & Doddist ended up being a Mugundaman and life has never been the same since!

Shalom.
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
Chaka
#3 Posted : Sunday, January 06, 2019 7:55:24 PM
Rank: Veteran


Joined: 2/16/2007
Posts: 2,078
@LA-254..So I suppose you will never listen to the spouse's advice..?
@MM,was that bad decision also influenced by mama watoto?
S.Mutaga III
#4 Posted : Sunday, January 06, 2019 8:29:55 PM
Rank: Member


Joined: 3/26/2012
Posts: 811
22,000 to 130 million from 1977 to 2019 i.e 42 years. That is an annualized return of 23% per year. I will stick to stocks any day and leave Migundas to Mugundamen who are ready for a 23% return every year and to wait for 42 years.

My guess is that if that 22k was invested in Equity Bank during its early days after 1993(before listing in the 2000s), it would be worth billions right now.

I believe that I can do better than 23% in the stock market in one year. Land is not such a great investment as you people put it.
A successful man is not he who gets the best, it is he who makes the best from what he gets.
rwitre
#5 Posted : Sunday, January 06, 2019 9:24:20 PM
Rank: Member


Joined: 3/8/2018
Posts: 316
Location: Nairobi
Wait 42 YEARS without the liquidity?

I don't refute that there are handsome returns....eh...lakini. Hii mali tutaiacha hapa dunia.

I'd choose stocks where you can make similar or higher returns...though they are more risky since you can make losses with poor picks. But very liquid and you can easily switch to more lucrative investments as they crop up.

Hii kungoja retirement kabla nitumie pesa apana.
MugundaMan
#6 Posted : Sunday, January 06, 2019 9:25:04 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
S.Mutaga III wrote:
22,000 to 130 million from 1977 to 2019 i.e 42 years. That is an annualized return of 23% per year. I will stick to stocks any day and leave Migundas to Mugundamen who are ready for a 23% return every year and to wait for 42 years.

My guess is that if that 22k was invested in Equity Bank during its early days after 1993(before listing in the 2000s), it would be worth billions right now.

I believe that I can do better than 23% in the stock market in one year. Land is not such a great investment as you people put it.



Laughing out loudly Laughing out loudly Laughing out loudly

Mutaga wacha jokes. SHOW US THE MONEY. Where is your 22k that you invested that made you 130m? Hindsight is always 20/20 when it comes to you and the NSE. If you cannot show us how you have made more money than Los Angeles' example, please (with all due respect) shut up!
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
kaka2za
#7 Posted : Sunday, January 06, 2019 10:46:26 PM
Rank: Elder


Joined: 10/3/2008
Posts: 3,449
Location: Gwitu
MugundaMan wrote:
S.Mutaga III wrote:
22,000 to 130 million from 1977 to 2019 i.e 42 years. That is an annualized return of 23% per year. I will stick to stocks any day and leave Migundas to Mugundamen who are ready for a 23% return every year and to wait for 42 years.

My guess is that if that 22k was invested in Equity Bank during its early days after 1993(before listing in the 2000s), it would be worth billions right now.

I believe that I can do better than 23% in the stock market in one year. Land is not such a great investment as you people put it.



Laughing out loudly Laughing out loudly Laughing out loudly

Mutaga wacha jokes. SHOW US THE MONEY. Where is your 22k that you invested that made you 130m? Hindsight is always 20/20 when it comes to you and the NSE. If you cannot show us how you have made more money than Los Angeles' example, please (with all due respect) shut up!


22K in 1977 could have probably got you an acre of land in Nairobi.The same would be worth more than 130M today.
LosAngeles~254
#8 Posted : Monday, January 07, 2019 2:01:54 AM
Rank: New-farer


Joined: 1/6/2019
Posts: 34
Location: L.A. 90010
@Mugundaman, dude your comments always crack me up! Your passion for dustbowl county (who even came up with that name?)Laughing out loudly is truly contagious hahaha. Really the surest investment in the world is land/real estate. It's not 100% but comes pretty close in my opinion.

@Chaka ...let's just put it this way. I'll never again agree to have a spouse, so no discouragement of the sort will be forthcomingShame on you .#BachelorLife4eva. And as you know advise za random girlfriends in Carnivore get forgotten as soon as the nyamchom & drinks arrive Laughing out loudly Laughing out loudly.

@Kaka2za ...you bet! Can you imagine living with such regrets? Especially if you ended up broke. The pain itself jo....

@Rwitre & Mutaga ...True, maybe you can beat a 23% return. Warren Buffet has done a pretty good job at it, others too. But can you do so year after year for 42 years straight? You cannot say for sure. This year ur up 40%, next year sijui what. It's hit or miss dude. But with real estate, it's almost guaranteed that you'll come out wealthy if you buy in the right places. You cannot lose.
Alafu @Rwitre, you don't have to wait for 42 years to cash out. He could have sold after 20 years and still make a fortune.
God. Real Estate. Fast Cars. Hot Chicks. Philanthropy.
Angelica _ann
#9 Posted : Monday, January 07, 2019 9:50:06 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,441
Of course everybody has this type of cheap talk stories to tell about their lives of missed opportunities. So what stopped him from making more deals like the one of 24k he made then. 24k in 1977 was loads of cash my frens .......
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
LosAngeles~254
#10 Posted : Monday, January 07, 2019 10:06:50 AM
Rank: New-farer


Joined: 1/6/2019
Posts: 34
Location: L.A. 90010
Angelica _ann wrote:
Of course everybody has this type of cheap talk stories to tell about their lives of missed opportunities. So what stopped him from making more deals like the one of 24k he made then. 24k in 1977 was loads of cash my frens .......


@Angelica, ....Easy for you to say sis 'cause you didn't know him. I bet if he was ur dad you wouldn't type the dim-witted crap you just did. I knew the man since i was a toddler...so it's not just another wazua storo with me. It's a real human i interacted with my whole life. All the best with you though.
God. Real Estate. Fast Cars. Hot Chicks. Philanthropy.
Angelica _ann
#11 Posted : Monday, January 07, 2019 10:12:04 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,441
LosAngeles~254 wrote:
Angelica _ann wrote:
Of course everybody has this type of cheap talk stories to tell about their lives of missed opportunities. So what stopped him from making more deals like the one of 24k he made then. 24k in 1977 was loads of cash my frens .......


@Angelica, ....Easy for you to say sis 'cause you didn't know him. I bet if you knew him you wouldn't type the crap you just did. I knew the man since i was a toddler...so it's not just another wazua storo with me. It's a real human i interacted with my whole life. All the best with you though.


I know who is giving us crap on this thread. What stopped him from making more deals, did he teal you apart from crying about the story of the land. Kwani buying of that land was the only opportunity he had in his life. Kwani before the land buying crazy people never used to make money. Wacheni kutubeba utoto hapa bwana with fake stories.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
wukan
#12 Posted : Monday, January 07, 2019 10:30:57 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,109
kaka2za wrote:
MugundaMan wrote:
S.Mutaga III wrote:
22,000 to 130 million from 1977 to 2019 i.e 42 years. That is an annualized return of 23% per year. I will stick to stocks any day and leave Migundas to Mugundamen who are ready for a 23% return every year and to wait for 42 years.

My guess is that if that 22k was invested in Equity Bank during its early days after 1993(before listing in the 2000s), it would be worth billions right now.

I believe that I can do better than 23% in the stock market in one year. Land is not such a great investment as you people put it.



Laughing out loudly Laughing out loudly Laughing out loudly

Mutaga wacha jokes. SHOW US THE MONEY. Where is your 22k that you invested that made you 130m? Hindsight is always 20/20 when it comes to you and the NSE. If you cannot show us how you have made more money than Los Angeles' example, please (with all due respect) shut up!


22K in 1977 could have probably got you an acre of land in Nairobi.The same would be worth more than 130M today.


22k for an acre of land in Nairobi maybe in Dandora or Donholm or kikuyu or Kiambu road. Maisonettes in Nairobi were around 80K in 1977
rwitre
#13 Posted : Monday, January 07, 2019 10:31:50 AM
Rank: Member


Joined: 3/8/2018
Posts: 316
Location: Nairobi
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly
MugundaMan
#14 Posted : Monday, January 07, 2019 10:32:35 AM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
rwitre wrote:
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly

Laughing out loudly Laughing out loudly Laughing out loudly
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
Angelica _ann
#15 Posted : Monday, January 07, 2019 11:02:09 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,441
MugundaMan wrote:
rwitre wrote:
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly

Laughing out loudly Laughing out loudly Laughing out loudly


So even before he died he would have been a billionaire smile

Even the sportpesa people winners overtook the old-man wakina Abiysai el all . Hindsight 20/20 opportunities are everywhere
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
jmbada
#16 Posted : Monday, January 07, 2019 11:40:39 AM
Rank: Member


Joined: 1/1/2011
Posts: 366
Angelica _ann wrote:
MugundaMan wrote:
rwitre wrote:
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly

Laughing out loudly Laughing out loudly Laughing out loudly


So even before he died he would have been a billionaire smile

Even the sportpesa people winners overtook the old-man wakina Abiysai el all . Hindsight 20/20 opportunities are everywhere

That was a great story and well written...with no concealed motive such as trying to sell plots. Ofcourse life is filled with stories of missed opportunities, this is one of them. What's the beef with his narration?
Angelica _ann
#17 Posted : Monday, January 07, 2019 11:48:30 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,441
jmbada wrote:
Angelica _ann wrote:
MugundaMan wrote:
rwitre wrote:
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly

Laughing out loudly Laughing out loudly Laughing out loudly


So even before he died he would have been a billionaire smile

Even the sportpesa people winners overtook the old-man wakina Abiysai el all . Hindsight 20/20 opportunities are everywhere

That was a great story and well written...with no concealed motive such as trying to sell plots. Ofcourse life is filled with stories of missed opportunities, this is one of them. What's the beef with his narration?


The beef is with 24k in 1977, missing one opportunity on land that was not purchased should not bring croco tears in 2019 so many years later. The old man was just bad with investment otherwise there were opportunities galore with that kind of money to turn into kshs. billions if not $$$ millionaire.


Another beef, hizo stories tumezoea bwana!!! back of envelope calculations.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Fyatu
#18 Posted : Monday, January 07, 2019 12:09:20 PM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,424
Location: Nakuru
How much was a single share of EABL/Kenya breweries or BAT trading in 1977. Factor in the dividends(compounded) and capital gain
Dumb money becomes dumb only when it listens to smart money
MugundaMan
#19 Posted : Monday, January 07, 2019 1:13:07 PM
Rank: Veteran


Joined: 1/8/2018
Posts: 1,700
Location: DC (Dustbowl County)
Angelica _ann wrote:
MugundaMan wrote:
rwitre wrote:
If that 27k had bought Bitcoin in 2010....

Achana na 130 million.

Would be worth at least 8 billion now.

In just 8 years.

Opportunities are everywhere. Hindsight is 20/20 Laughing out loudly Laughing out loudly

Laughing out loudly Laughing out loudly Laughing out loudly


So even before he died he would have been a billionaire smile

Even the sportpesa people winners overtook the old-man wakina Abiysai el all . Hindsight 20/20 opportunities are everywhere


As usual you missed the joke, mama Laughing out loudly
"The fool says in his heart, "There is no God." - Psalm 14:1
Dustbowl County is the Future of Kenya.
**1700 posts = Adios (for real this time!)**
chiaroscuro
#20 Posted : Monday, January 07, 2019 1:30:42 PM
Rank: Veteran


Joined: 2/2/2012
Posts: 1,038
Location: Nairobi
1. Hindsight is misleading...past performance is not a guarantee of the future.

2. Undeveloped land in Kenya inflates at between 20 and 25% p.a. It's a good rate but not magical!

3. The CPI was 2.45 points in 1977. Today it is 194. Thus the "future value" sh22k sh1.74M in 2019. QUESTION: Would you take 1.74M today and buy land in some remote place where hyenas and antelopes are roaming freely?
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