I took rather unconventional means in picking stocks last year. By September 2024, I had 3 of the top 4 most profitable stocks of the running year in my portfolio and by the time the year ended, I had 3 of the top 6. I am not putting this out as financial advice. I’d rather say these are exciting ways to find stocks you should go on to research.

Who pays my employer? This was a very good way for me to filter the long list of companies on the Nigerian Stock Exchange. I am confident that my employer will be around for years and it would only stay afloat because of its current customers. This method gave me 314.29% on RT Briscoe and 93% on Lafarge in less than a year.

Which were the best performing stocks from the previous year? While I have always had stocks, I went even harder because of 2023’s performance. I saw it as a miss to x7 my savings which I mostly held in unstable financial vehicles the previous year. I assume I was not the only one seeing it that way too because my Transnational Corporation Plc. and Transcorp Hotel Plc. stock, which I bought because of 2023’s performance, did 270% and 30% respectively.

Which companies’ products and services do I use every day and wish I owned?

Using and loving a product or service are not the same things and there are one million examples of that. I bought some stocks in my favourite brands and made money off them. 

While you are not immune to bias when you pick a stock this way, you are most likely going to turn out picking the right stock if you do an objective evaluation of the stock. 

Buying stocks in companies you know you use every day and you almost wish you owned helps your long term outlook when the bear cycles come.

In conclusion, picking the best stocks often comes down to a mix of curiosity, observation, and objective evaluation. By asking who pays your employer, examining past performance, and considering the brands you engage with daily, you can uncover valuable investment opportunities. While no strategy guarantees success, staying informed and diversifying your approach can significantly increase your chances of making rewarding financial decisions. Always remember to back your choices with proper research and a long-term mindset.

If you also have unconventional ways you picked stocks, please share in the comments, we’d love to hear about it.