easimoni:

Notes from my S. Sheet regarding Law Union Shares:
1.8B shares PO was oversubscribed to 135.4% =2.437 B shares. Previously 1B. Total now 3.437B. NSE listed 0.637B supplementary allotment for oversubscription on Oct 3 07

ololufemi:

Guys based on technicality and Fundamentals, I think that Crusader is a better buy.

Divide the Average PE of the industry by Crusader's forward PE and multiply it by the current price.

Also remember, they own a PFA pension Fund Administrator which would bring in more cash for them. N100 charge per account holder and 2% charge on pension funds assets being managed.

I'm riding crusader's speedboat on full throttle cruise,


@Olulufe e

Remember crusade accuqired new companies - we never see merger document oo, thread softly softly oo

easimoni:

Notes from my S. Sheet regarding Law Union Shares:
1.8B shares PO was oversubscribed to 135.4% =2.437 B shares. Previously 1B. Total now 3.437B. NSE listed 0.637B supplementary allotment for oversubscription on Oct 3 07

aktopgun:

spreadsheets, columns, multiply by 4 divide by 3  

heeeeeeeeeeeeeelllllllllllpppppppppppppp, my brain is on the fritz!!

not really, only joking
but it does sound a bit tech really

so i get a list of all the securities on an excel worksheet manually ? and then what columns do i include

hope this isn't stressing u out

pumping777:

The point is that a company that has released a Q-3 result is more likely to meet my projection for the full year. The closer to the end of the year the better.

ololufemi:

Guys,

GT Bank broke the N30 resistance level today. Closed at N32.55

Sounds like something is cooking in there.

Are they about to declare their interim results and interim dividend.

I can smell something brewing

Easimoni, Pumping, Wanago, Roughcut, Amancheelie, YodiYokun can you smell it too.

YodiYokun please send the spreadsheet abeg.

Thanks

wanaj0:


For long term investors, look for undervalued stocks, with good management and corporate governance and prospect for growth. That is all that you need. 5 to 10 stocks in that category is all that you need to join the billionaires club. Forget about the short term flunctuations. For those that bought Wema and were not bothered with the short term flunctuations after the poor result are laughing now (if they sold before the TS). Those that panicked and followed the herds mentality are regretting it now.

yodiyokun:


@Wanaj0,

WEMA did not fall under this category.

To make the billionaire's club, you must have millions to invest na Abi, you be club member already?

wanaj0:

Maybe for you, but for me WEMA did!!!!!

WEMA was undervalued (I bought @ 3.53). Wema had to go back and get a Deputy Governor to be their MD. They went through restructuring and rebranding. They cleaned up their books. So they were undervalued, had new management and set for growth. For me those are the companies to look at not those being hyped by the media.
You don't need millions to invest to join the millionaires club. You only need to start early.

Not there yet but that is a target. Actually, that was what got me interested in the capital market. The thought of being a billionaire without stealling or looting the treasury!

yodiyokun:

Leave that yeye MD--- sebi he resigned from WEMA initially to be the Deputy Gov, he is not a new blood per se ooo. But you hit the mail in the head, you bought Wema , at 3.53, crucial point. Entry point is always important.

For me to enter at N10 was definitely a higher risk for me.

kpineo:

According to the NigerianSecurities website UNIC has a proj PE of 19.88, while MBenefit has 18.33 and the industry average is 21.94, so y all the interest in UNIC and not MBenefit. Also MBenefit own 25% of Abbey mortgages which is a player in the next emerging sector in the nigeria economy. people what am i missing before hard earned funds disappear right before my very eyes.

wanaj0:


Pumping, while I agree that a Q3 result evokes more confidence, be sure that you understand the company! Presco's 6months PAT result sometimes is more than the full year! In the days of the old UBA, some funny provisions just surfaced at end year that will almost wipe off the whole profit. Also, remember First Bank making N10bn provision in the last quarter for the IIL/NITEL deal.

crazyT:

@ Wanaj0 and kpineo


Is it true that M Benefits will be going on PO very soon?

wanaj0:

I tend to look at the facts behind the figures. Don't know much about MB. Not sure of any startegic plans that they have. For UNIC, I know a bit about them. They are leaders in health insurance with their UNIC Health. They are also into emergency rescue with CRI. Added to that is the planned club/recreation centre that they are building at VGC.

UNIC is also one of the few companies that cleaned their accounts a couple of years ago. Also love the board (Shonekan is on th board and a major investor)

pumping777:

@no_shaking

Back to UNIC. You see, taking advantage of interim or full year results is one thing and taking advantage of price is another.

Based on UNIC Q-1 result alone I felt a price of N2.35 was too low for the stock so I already took position then at N2.40. If Unic comes out with an even better Q-3 result all the better. Maybe by then UNIC will be N5 . I will still be in the game. I don't like chasing a stock after the good results are released and everyone is doing the same.

This is why I prefer to use fundamentals as against aniticipating good interim or final year results. See where it got me with Oceanic

yodiyokun:

WanaJ0,

In line with fact behind the figures, I was looking at May & Bakers 2006 Prospectus, and boy are they way off their PAT projections, and it dosent look like they will meet their projections for this year as well.

Was the offer over or under subscribed - trying to figure out the Outstanding shares and has the shares been listed on NSE this year?

Do you have any information on them, Honestly, I don't know how their price has been sustained at N11

wanaj0:

Thought result was part of the fundamentals!!!!!

On what basis will you consider a stock to be low if not based on the EPS/ PE? Those are forecasted/estimated based on interim or final results.

kpineo:

According to the NigerianSecurities website UNIC has a proj PE of 19.88, while MBenefit has 18.33 and the industry average is 21.94, so y all the interest in UNIC and not MBenefit. Also MBenefit own 25% of Abbey mortgages which is a player in the next emerging sector in the nigeria economy. people what am i missing before hard earned funds disappear right before my very eyes.

wanaj0:

May and Baker did an offer last year that was oversubscribed. Don't think they took the over subscription though. They refunded mone but used a funny method. All existing shareholders got what they applied for but everyother person got a prorated allocation.

Now because of the delay in the conclusion of the offer they did not get the money ontime.That basically affected the 2006 forecast. Also they are about changing the utilisation of the funds. Also, the Vaccine project seems to be delayed. However, it is a solid company for the future. I expect that the 2008 results will be encouraging. Right now, I will consider it over valued except you are in for the Long Term like me. Don't forget that it rose as high as 16.00 this year!

Geees:

Thanks Wanaj0 for this
May and B were on my radar mid year but could not explain why there were not responding, Well Insurance got me and am smiling now.
Any one seen what is happening to Dunlop Guys position now oh,