Stock Market Tips For Nigerians

I personally don't feel confortable with Wema bank. They release their results very late and their customer service is appalling. I have not seen so many people that have accounts with them and i even the closed the small savings account i had with them because i just don't feel the bank. If anybody has concrete info on why we should invest in such a company, please share.

@windywendy
You are funny o. The Nitel phone in my house and father's office are dead too. Nobody even remembers that they exist because of the PTOs in town. Yesterday, I read an article in one of the dalies that a company(not sure of the name now) is planning to pay the existing shareholders and acquire the mtel part of nitel. If they succeed, then you should start seeing new MTEL lines. That is if they succeed.

Any s/b in the house? I bought Fidelity at 3.95 and now it is going for 8.70, Do I sell?

i bought a sustantial amount of acess bank at an average of N10.70 and as at yesterday, it closed at about N18 making me over bout a mill or so.

do you think i should sell it off and buy it at the reduced rate during the public offfer or still stick with it

if no, what price do u think it will rise to?

@ mr frank,

i should sell or i should wait n see?

thanks alot

@Investors

Asking a "whether to buy or to sell" question is not  an easy one to answer because no one knows your strategy or general aims

If your strategy is capital gains you can not sit on your stock, you have to sell to realise your profit and buy or move onto the next stock. you should even looking at moving the money elsewhere ie capital market
You have to decide how much profit you want to go for realistically before cashing in this is difficult as your stock may not meet your target or may shoot past it making you greedy

Remember till you have sold and collected your cash, you are in possession of paper money which can disappear overnight

If you just want to park your money in safe stocks, stick to blue chip stocks as found in the banking sector giants, relax and collect your yearly dividends

Bottomline: Plan your strategy, don't get too greedy

Ciao

Very well put.
@ Tmoni. you can't eat your cake and have it. If you think the stock has appreciated enough for you then you can sell.The major reason why I cartegorically said sell is because you were, inadvertently applying the principle of arbitrage which I had canvassed in one of my earlier posts. Its the only way you can maintain your position in the stock and yet take advantage of some of the profit .

Enolase, any idea when their share reconstruction is coming on?

Behold, a new guru is born 

I believe the best way to buy new shares when you have an existing portfolio is by adjusting, you could part of your old stocks which have made profit, then use it in acquiring new stocks. back then I bought about 50,000 units of Zenith bank, all I had to do was just sell 15,000 to get my initial investment back, and used it in getting oceanic bank. Basic Portfolio Readjustment.  BPR!

@Frankiriri and Tmoni

Ad Astra per aspera, Ad Augusta per angusta. In difficulty, striving for the stars. Through narrow paths, aiming for the heights.

Youz are far too kind. _{taking a bow and selfishly hugging the limelight.}

@enurayce,
Insurance is looking good. About the certificate verification, i don't think it is right for stock brokers to charge by percentage. Some do it for free and the highest i have seen so far is 1000 naira for each certificate. Does this mean that if you have shares worth 30 million, 375000 naira automatically becomes theirs? You will feel the effect when you buy shares in bulk and personally, it doesn't make sense to me. Can you tell us the name of the stock broking firm?

@ Gurus,
Tmoni is not the only one with the problem of sell or hold. I am holding on to my FLOUR MILL & ASHAKACEM, is it wise to continue to do so? I bought Ashaka @36.32naira and Flourmill @ 19.26naira, should I sell or should I hold on hoping that one of them would give a good bonus/dividend? Please help your brother. Kind thanks for any ideas proffered!!!

@ everyone
The investment club that I run is having an inaugural meeting at the upper lounge Tantalisers 22 Road Festac Town tommorow at 5pm prompt.  Admission is free.   

access closed at N19 today,
are they creating artificial scarcity by themselves to shore up the price?

will most-def sell on monday, made bout 2mill ,

I do. This strategy is eating half your cake

Did any broker warn investors that Nigerian Cable is under lock and key. The same brokers touted Transcorp as a juicy stock suitable for the meduim term