Fellow Nigerians! Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $10 and as supply started to diminish, the villagers s...topped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and
people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it! The man now announced that he would buy monkeys at $100! However, since he had to go to the city on some business, his assistant would now buy on his behalf. In the man's absence, the assistant said to the villagers: Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $75 each and when the man returns from the city, you can sell it to him for $100 each." The villagers brought out their life savings and bought all the monkeys. Thereafter they never saw the man nor his assistant again, only monkeys everywhere!!! Welcome to the Nigerian "Stock" Market!!!!!
people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it! The man now announced that he would buy monkeys at $100! However, since he had to go to the city on some business, his assistant would now buy on his behalf. In the man's absence, the assistant said to the villagers: Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $75 each and when the man returns from the city, you can sell it to him for $100 each." The villagers brought out their life savings and bought all the monkeys. Thereafter they never saw the man nor his assistant again, only monkeys everywhere!!! Welcome to the Nigerian "Stock" Market!!!!!
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Hillarious.
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