RabbiDoracle:


Is this market marking (MM) not manipulation?

Season 2.

Market Making is not peculiar to a stock. i think its something put in place by NSE for every stock (kindly correct me if i am wrong) so it doesnt convey any advantage on any stock, however im not sure if this is same practice on other exchange. My personal opinion is that it distort price discovery , just like the 5% movement range.

however that is my personal opinion but since its something that is put in place by NSE itself i wld just have to live with it if i want to play in the market.

currentprice:
Custodian best performance so far, but it is in insurance sector Selling at 170% discount to current price.

That coy will sell for 8 naira in max a year; that is the kind of performance that brought it all the way from 1.2 to 4.

Disclosure; not interested in the coy. You need extra muscles of patience with this coy

Agbalowomeri:


That coy will sell for 8 naira in max a year; that is the kind of performance that brought it all the way from 1.2 to 4.

Disclosure; not interested in the coy. You need extra muscles of patience with this coy

I agree. If the performance is for real. Custodian have no place below 10

robobo:


How do u mean nonsense result

would appr8 if u are precise which part (or is it whole) is nonsense so we can all learn

for me the Op exp is quite high and it is a negative

however unlike ur statement this bank was able to generate MORE of its revenue from traditional banking (i.e. lending, i.e. NI after impairment) and even grew same compared to last year by abt 27% (174b compared to 137b). Trading income (TBILLS and FX derivative) cant be said to be major at 49b (2017; 43b- 2016) versus 174b from NI and is even more stable in comparision to last year figure .

i think UBA shld be able to sustain this result going ahead (bar any surprise from impairment)

wld appr8 ur pespective.

n.b im here and not intending to either buy or sell at current price range wld rather collect my dividend and see how scenario unfolds going forward which might change my perspective

When doing comparisons like this, don't look at figures only. Convert it into percentages.

Example : Do the following

Parameters 2017. 2016
Ratio of PBT/net interest income
Ratio of PBT/net int. Income after impairment
Ratio of PAT/ net interest income

Etc.

With ratios you will be able to see percentage differences rather than just looking at figures in billions.

I understand that there is no distortion in trading income and impairment as could be seen in other banks.

Use percentages and tell.me what you see.

We have launched a live stockmarket chatroom for everyone to follow live trades and analysis from top traders.


Click here - http://nigerianstockstobuy.com/stock-market-nigeria-forum/

currentprice:


I agree. If the performance is for real. Custodian have no place below 10

That is the discipline the likes of Ade Ojo (Elizade ) can bring into a coy. im not sure if he is still there though

my phobia for insurance didnt make me pay it too much attention which might change soon if i get the time to scan through its books for some years back

robobo:


Market Making is not peculiar to a stock. i think its something put in place by NSE for every stock (kindly correct me if i am wrong) so it doesnt convey any advantage on any stock, however im not sure if this is same practice on other exchange. My personal opinion is that it distort price discovery , just like the 5% movement range.

however that is my personal opinion but since its something that is put in place by NSE itself i wld just have to live with it if i want to play in the market.

It distorts the market. You don't get to have a good view of the market when they release rubbish results. If you release results that are not ok, market should fall. But the reverse happens.

I don pack my pillow well to sleep and snore.

RabbiDoracle:


When doing comparisons like this, don't look at figures only. Convert it into percentages.

Example : Do the following

Parameters 2017. 2016
Ratio of PBT/net interest income
Ratio of PBT/net int. Income after impairment
Ratio of PAT/ net interest income

Etc.

With ratios you will be able to see percentage differences rather than just looking at figures in billions.

I understand that there is no distortion in trading income and impairment as could be seen in other banks.

Use percentages and tell.me what you see.

as said earlier wld take a deeper look at the big four later (9-5 job is quite tasking). for now just looking at the obvious (figures) and noting key take aways (which cld change with deeper dive). that is why i said i wld appr8 ur perspective.


However as u am also concern by the sustainability of the banks profit going forward that is why my quick check is zeroing in on the key line income NI vs Trading (tbills and fx derivative) as a rough guage of how sustainable their result are

robobo:


as said earlier wld take a deeper look at the big four later (9-5 job is quite tasking). for now just looking at the obvious (figures) and noting key take aways (which cld change with deeper dive). that is why i said i wld appr8 ur perspective.


However as u am also concern by the sustainability of the banks profit going forward that is why my quick check is zeroing in on the key line income NI vs Trading (tbills and fx derivative) as a rough guage of how sustainable their result are

Just use ratios and not jusyt looking at the figures. Even if you are working, a ratio computation will do to understand.

We will see how it trades tomorrow.

RabbiDoracle:


Just use ratios and not jusyt looking at the figures. Even if you are working, a ratio computation will do to understand.

We will see how it trades tomorrow.

Bros, you too like money no market tomorrow nah till Monday....go play with madam this weekend

If these banks (Access and UBA) are like this, what will be the fate of the tier 2 banks?

Coolcash1:


Bros, you too like money no market tomorrow nah till Monday....go play with madam this weekend

thanks jare. My head just full with work.

See my life.

RabbiDoracle:
If these banks (Access and UBA) are like this, what will be the fate of the tier 2 banks?

i dont do tier 2 (they ve taught me enough lesson)

so i dont really care for the results for now

except something extra ordinary happens in that space

ogedanny:
We have launched a live stockmarket chatroom for everyone to follow live trades and analysis from top traders.


Click here - http://nigerianstockstobuy.com/stock-market-nigeria-forum/

@Bolded....Noise to be avoided by all means to maintain sanity and actually make money from this market.

robobo:


i dont do tier 2 (they ve taught me enough lesson)

so i dont really care for the results for now

except something extra ordinary happens in that space

Since we are small money players, na tier 2 be our home o. So na to wait for them at 80kobo and hammer.

Una wey dey trade in billions can continue in your tier 1.

robobo:


That is the discipline the likes of Ade Ojo (Elizade ) can bring into a coy. im not sure if he is still there though

my phobia for insurance didnt make me pay it too much attention which might change soon if i get the time to scan through its books for some years back

@Bolded....Discipline really? What happened to his own company RT Briscoe? How did it turn out? He is still in Custodian though.

robobo:


as said earlier wld take a deeper look at the big four later (9-5 job is quite tasking). for now just looking at the obvious (figures) and noting key take aways (which cld change with deeper dive). that is why i said i wld appr8 ur perspective.


However as u am also concern by the sustainability of the banks profit going forward that is why my quick check is zeroing in on the key line income NI vs Trading (tbills and fx derivative) as a rough guage of how sustainable their result are

Banks with street smart managers will make money most of the times because they see opportunities many seasons before others do. In 2016 they made money on FX and people were concerned about 2017. In 2017 they made money from Govt. securities and people are concerned about 2018. In 2018 they will most probably make money from loans granted to the premium borrowers while the usual laggards will come mid year or last quarter and create loans that will go bad.

In business school, they thought me to take courses based on professors and not course contents. Forget the bank names and invest in managers that have a track record and system of making money in this market. If they stumble, it will hardly be material.

TLAX:


@Bolded....Discipline really? What happened to his own company RT Briscoe? How did it turn out? He is still in Custodian though.

RT briscoe was a competitor i think he bought in other to kill it for his cash cow Toyota Nigeria continue to thrive (my take from hindsight i cld b wrong though) jst as accused of coca cola did to some local bottling companies some few years back

the downside is, if that is what he truly did he wnt b losing anything cos as an insider he must have taking advantage to get his share of the dying coy and those who suffer wld be minority shareholder.

my knowledge here is limited (cos RT Briscoe had never been of interest to me so i had never paid it more than a passing look) so you might as well be right

RabbiDoracle:


Since we are small money players, na tier 2 be our home o. So na to wait for them at 80kobo and hammer.

Una wey dey trade in billions can continue in your tier 1.

my chief
where the billion dey?

but i claim am.

my running from tier 2 is from previous experience (cos of their immunity to all known projection)

UBA Posts N79b Profit in 2017, Pays 65 Kobo Per Share Dividend
https://www.businesspost.ng/2018/03/23/uba-posts-n79b-profit-in-2017-pays-65-kobo-per-share-dividend/

TLAX:


Banks with street smart managers will make money most of the times because they see opportunities many seasons before others do. In 2016 they made money on FX and people were concerned about 2017. In 2017 they made money from Govt. securities and people are concerned about 2018. In 2018 they will most probably make money from loans granted to the premium borrowers while the usual laggards will come mid year or last quarter and create loans that will go bad.

In business school, they thought me to take courses based on professors and not course contents. Forget the bank names and invest in managers that have a track record and system of making money in this market. If they stumble, it will hardly be material.

i totally agree with you smart bank managers wld always make u money

however next meal might already be cooking from corporate bonds (e.g. Dangote is already preparing a 300b meal) the small snag is spread might come with some risk and not as wide as former FG Tbills

TLAX:


@Bolded....Discipline really? What happened to his own company RT Briscoe? How did it turn out? He is still in Custodian though.

He is not the owner of RT Briscoe, he worked as a sales man at RT Briscoe between 1968 and 1970 before starting Elizade motors in 1970.

Chief Ade Ojo is far bigger than RT Briscoe as we speak. He currently owns 925 million units of Custodian and Allied insurance shares, a dividend of about N266 Million from just a company is more than enough to have a great Easter

UBA....for me performed better than ACCESS......65k dividend and good figures.......i go chop this dividend wella......


.....Zenith bank......Best performer for the year 2017


Meanwhile.....BRENT CRUDE OIL NOW $70.2...now $70.45

AS PA Wanajo said.......we are making more money this year.....No mind Election noises

robobo:


RT briscoe was a competitor i think he bought in other to kill it for his cash cow Toyota Nigeria continue to thrive (my take from hindsight i cld b wrong though) jst as accused of coca cola did to some local bottling companies some few years back

the downside is, if that is what he truly did he wnt b losing anything cos as an insider he must have taking advantage to get his share of the dying coy and those who suffer wld be minority shareholder.

my knowledge here is limited (cos RT Briscoe had never been of interest to me so i had never paid it more than a passing look) so you might as well be right

Una dey try gan o; to dey follow all these companies with every piece of information

robobo:


That is the discipline the likes of Ade Ojo (Elizade ) can bring into a coy. im not sure if he is still there though

my phobia for insurance didnt make me pay it too much attention which might change soon if i get the time to scan through its books for some years back

The man is now close to 80 years, he is represented on the board by his son.

He is also in Eterna oil and Meristem group ( stock brokers, Registrars, Trustees, Asset management, investment banking) and a lot of unquoted investments that are generating steady cash.

emmanuelewumi:
The man is now close to 80 years, he is represented on the board by his son.

He is also in Eterna oil and Meristem group ( stock brokers, Registrars, Trustees, Asset management, investment banking) and a lot of unquoted investments that are generating steady cash.

ok thanks for the info

L

robobo:


RT briscoe was a competitor i think he bought in other to kill it for his cash cow Toyota Nigeria continue to thrive (my take from hindsight i cld b wrong though) jst as accused of coca cola did to some local bottling companies some few years back

the downside is, if that is what he truly did he wnt b losing anything cos as an insider he must have taking advantage to get his share of the dying coy and those who suffer wld be minority shareholder.

my knowledge here is limited (cos RT Briscoe had never been of interest to me so i had never paid it more than a passing look) so you might as well be right

. Toyota Nigeria limited is different from RT Briscoe, I just learnt that Ade Ojo divested from RT Briscoe some few years ago when he couldn't agree with other major shareholders on the way forward for the company.


These other major shareholders were Investment bankers and portfolio managers.

Agbalowomeri:


Una dey try gan o; to dey follow all these companies with every piece of information

We invest on the basis of relevant information and not just on the basis o price movement

emmanuelewumi:




We invest on the basis of relevant information and not just on the basis o price movement

I dobale o; Me no sabi anybody anywhere so make I stick to my price movement

emmanuelewumi:
L. Toyota Nigeria limited is different from RT Briscoe, I just learnt that Ade Ojo divested from RT Briscoe some few years ago when he couldn't agree with other major shareholders on the way forward for the company.


These other major shareholders were Investment bankers and portfolio managers.

More like his antecedent that i am aware of.

parting ways must have been due to his insistence on doing what is right for d company (hence take longer time to make money) unlike the investment banks and portfiolio managers that wld want quick money which might have eventually kill the coy.

emmanuelewumi:



He is not the owner of RT Briscoe, he worked as a sales man at RT Briscoe between 1968 and 1970 before starting Elizade motors in 1970.

Chief Ade Ojo is far bigger than RT Briscoe as we speak. He currently owns 925 million units of Custodian and Allied insurance shares, a dividend of about N266 Million from just a company is more than enough to have a great Easter

Chief Adeojo owns over 22% of RT Briscoe through MikeAde Investments. He is largest individual shareholder and is represented on the board by his daughter Adeola Ade-Ojo.

emmanuelewumi:




We invest on the basis of relevant information and not just on the basis o price movement

Correct!