@Pumping, I was just about to say the same thing to rasputinn about First inland bank but you beat me to it.

@rasputinn, I hope you've not gone ahead and struck the deal o, it may not be worthwhile in hindsight.

aktopgun:

@texas

where u been man.

wassup. hope all is well.

Been around the world and I'm on self imposed exile I'm doing pretty good. Thanks for looking out for me I have been more of a silent reader now. I just don't like the way people want to polarise the forum. Some people have been believing they know it all, that its their method that is foolproof which is against the beauty of the forum and now the "no respecter" of cultures of the thread. Mind you I said culture of the thread!_{I don't want the issue of culture to drag on}

If we continue this way, some of these peolple we have been gaining invaluable insight from  (nobody knows it all) would not post as they used to, if they choose to post at all.

Although I have not met any of the forum member but i know most of them are MEN and WOMEN of HONOR. There are some i can vouch for their INTEGRITY even though I have not met them!

Madam Windywendy

Happy sunday o. From the past discussions do you think Niwicable is worth getting at current prices? Would you advise me to dispose of my FCMB now it has only made 2 naira since Dec. And last and final question today is Deap capital a good buy.##

Oga pumping please feel free to contribute.

@ Pumping

I asked if you have the 3rd Qtr result of Mutual Benefit, guess you didn't see the post.

Can I have your email addy, I want you to look at something pls.

beginner:

Madam Windywendy

Happy sunday o. From the past discussions do you think Niwicable is worth getting at current prices? Would you advise me to dispose of my FCMB now it has only made 2 naira since Dec. And last and final question today is Deap capital a good buy.##

Oga pumping please feel free to contribute.

@ Beginner

I would advice you hold on to your FCMB for a while. Some favourable indicators ahead. I am reliably informed that the much talked about management of the country's foreign reserve will be formalized soon. Even though many banks has made the requirement to be considered only 5 will be considered first 3 from the old generation and two from new geration banks. The banks forwarded by CBN to the feederal executive council for ratification are FBN, UBA and UBN then FCMB and Zenith. I also gathered that should the list be cut down to 2 it will be FBN and FCMB. I will update the house after the next FEC meeting. The effect of this on the share price is what I leave the gurus in the house to dissect.

@ Pumping777

Please I sent you a mail regarding Resots Savings and loans PP document and other issues. Kindly respond.Thanks

Now that people are awake. (At least me I just dey wake up, this time change just dabaru my system, 1 hour forward na lie!).

It is very important that we remain civil on this thread . If we are behaving like this on a forum we do not pay for, how will we behave if we were being charged.

Life is very simple,and the fact that this is an anonymous forum,or that we live in the diaspora does not mean we should not acknowledge elders (even when they are wrong). I have lived in the diaspora for years and have seen the negative consequences of not showing respect appropriately.

Giving respect takes nothing away from you, even when you feel the person may not deserve it.

Be that as it is, lets watch the tone of our language on this thread.Ask yourself, if you were talking face to face with the other party, would you say what you just wrote?

Last of all, we are here to make money, not make enemies!

Whao this is a long post, I should have posted a cartoon instead!

@aktopgun, @ Nairadr God bless you for your insights.

It is quite unfortunate that just posting a comment about an event has led to such anger. Nobody is forced to use any information you learn from this forum. If you do use it, it is at your detriment (gain or loss).

There is no need coming back here to disrespect anyone for letting out any information.

By the way, we are taught to respect everyone( elders, peers and younger ones).

Because this is a faceless forum it behooves everyone to excercise a little patience and enquire further.

I have gained immensely from this forum and would not want a few "spoil spots" to turn this into a battle ground.

We can all behave like matured men and women and thus earn the respect we all deserve.

"Respect begets respect" Let's keep the forum as postive as possible. No one is perfect.

Cheers

jideakin1:

@ Pumping

I asked if you have the 3rd Qtr result of Mutual Benefit, guess you didn't see the post.

Can I have your email addy, I want you to look at something please.

Mutual Benefits Insurance Plc

                                       Turnover          PBT           TAX                 PAT

                                       =N='000 =N='000 =N='000 =N='000

30-Sep-07 9 Mths      1,709,000        728,552        72,855          655,697 
30-Sep-06 9 Mths      1,436,000        886,095        18,978          867,117 
    19.0% -17.8%   -24.4%

This sunday evening saw my neighbor paying me his first visit since the begining of the year. He made me laugh so much I nearly fell from my chair. Imagine the man asking me to help explain how I trade stockfish while I have no shop where I sell them!

By the time I understood what he means by 'stock' as stockfish it took me some time to understand. The man just left after recieving some basic investment lessons.

Oga Pumping,

I can see you are online. I beg respond to my post above na

So mutual benefits made losses or what?
I better start exiting my insurance positions shap shap! My broker will hear from me soonest.

beginner:

Madam Windywendy

Happy sunday o. From the past discussions do you think Niwicable is worth getting at current prices? Would you advise me to dispose of my FCMB now it has only made 2 naira since Dec. And last and final question today is Deap capital a good buy.##

Oga pumping please feel free to contribute.

I won't advise you sell FCMB, especially if you're in it for the long haul. It's very fairly valued at its current price, and I don't see it going any much lower even after additional shares from the PO get listed. The bank has a lot of potential that'll begin to reflect in the price after results start getting released. If on the other hand you're in for just cico reasons, then you might want to sell and get something else. But keep Safive's comments in mind, as we never know how the market would react to news like that.

With regard to niwicable, there really is a lot of gray area there. I can't say buy at the current price, especially when I believe the fair value to be around 8. On the other hand it's difficult to say how the market will react to the news of a new investor -- though I suspect prices will likely go up. So if want it for cico reason, i'll say buy and sell after sentiments drive up the price. Otherwise wait for it to drop (and this might be months of waiting) before buying. Caveat plenty o!

Deap capital is a good company no doubt but I haven't seen the PO prospectus and therefore do not know how the PO will affect the company's valuation. If you want to buy in the hopes of a post-TS rally, then it might be a good idea as the stock is likely to rally post-TS. But the questions are: how far will it go post TS? And are there other opportunities that will give you a better bang for your buck while deap cap is still on TS? No one knows how long the TS will last, as they're still yet to announce what dates the PO will last through. My opinion though, plus the usual caveats apply.

wasere Pumping,

I too gbadun you. I just hope their share outstanding of 5911528735 that I have is correct.
I just no dey like make my spreadshet dey lie give me that's why i dey always wan confirm well well.

You still didn't put your email addy, anyway mine is dosky smyl at yahoo dot come, can you pls send me a mail for me to have your addy?

For the textually impaired folks;

|

@windy

i am assuming u are buying NIWICABLE based on the current sentiment around them since truebond came on board cuz i haven't seen any results since 2006 when they went into receivership. they are a turnaround truly like dunlop but it may take a little while for it to be complete and show profitability isnt it.

i understand truebond have 62% and odua own 15% while nigerians own the rest. what figures did u use to arrive at the valuation of N8 being the fair price please? i have their outstanding shares at 1.7B.

@Gabza,

If something went awry at the event, its beter you say it, than creating tension

gabza:

Should you wish to be reminded of my earlier position--I Am Out.
WHY??--Gone are the days elders were truly men of trust & intergrity, who die at a golden ripe age
Tolerating the culture of elderly deceit as a sign of respect is wishy-washy

If you were there at Trader Vics--(Meeting room for more privacy), speak up otherwise I wish the 2 MD better luck next time.

what gives! squash it man. its over and done with. haba.

ok apologies u went to trader vic and didnt meet any one. lets move on shall we.

contibute ur quota on the forum and maintain ur positions with respect and dignity so u can benefit like we all have

texas543:

Some people just need to grow up with the way they reason. I reserve my comments

Yep, I concur. We had 600 pages + and more, all from astute Men and Women who have selfless ambitions. Ironically as we come from a culture of respect, we also have people with disruptive and egotistical intents. The best way to overcome is to ignore them and pretend they don't exist.

invisible!:

So mutual benefits made losses or what?
I better start exiting my insurance positions shap shap! My broker will hear from me soonest.

They didn't make loss, just that they didn't make as much profit as they made previous year, despite having more turn-over (meaning they did more business).

On Niwicable;

http://www.businessdayonline.com/Manufacturing/3068.html

http://www.africanfinancialmarkets.com/front-news-detail.php?NewsID=22908

jideakin1:

They didn't make loss, just that they didn't make as much profit as they made previous year, despite having more turn-over (meaning they did more business).

yeah.

u are right but doing more business as evidenced by the increased turnover and ending up with less profit isnt good either. cuz it could either mean costs of doing business are going up, thus eating into profit margins or there is something wrong with the management.
in MBenefits case i would go for the former cuz the management is good enough. also remember in the insurance sector all it takes is a large claim in one quarter to reduce ur PAT substantially. don't know if thats the case with mbenefit though

speaking of the insurance sector, thought i'd share this from proshare

http://www.proshareng.com/blog/wp-content/uploads/2008/02/selected-stocks-in-the-insurance-industry.pdf

"

Yeah right oga topgun, my fears too.
but as you go for the former, I feel much better.
Anyway the result is still not looking bad sha, please confirm their outstanding share of 5911528735.
I just want to be sure.

The speculation is that Mbenefit was hit with a huge claim in that quarter which is why I said if this trend is halted, the full year results may exceed expectation.

@pumping, this 'big claim' fear is even more reason why I want to reduce my presence in the insurance sector.

Anyways, I will offer to insure the insurance companies against any sudden 'big claims'.

I hail una OOOO.

With the bears showing face, the men will be separated from the boys.

For those asking after Presco, the fundamentals is good. However, you need to be a weather forecaster to roll with that one. That said, I expect the 2007 full year result to be better than the 2006 result. That is not saying much though.

On insurance, except you entered early, be warned. UNIC did a PO in 2006 @ 1.10 and was undersubscribed. What have they done now to justify a price of 5.50 (now UNIC is one of the best outh there). NEM did a righst @ 0.55 which was supposedly 100% subscribed (well so many mago mago with that). AFter thet it wnet into merger arrangement with Vigilante and Lombard. No news about the subscription level. Now how did the price went up to 5.00 What have they done. What they are using is the scarcity of the shares (very few shareholders) to pump up the price. same thing happening to the Vono's, Afroil, Capital Oil etc of this world.

Many people are becoming silent readers as there is no price to pay for only reading!!

Safive:


@ Pumping777

Please I sent you a mail regarding Resots Savings and loans PP document and other issues. Kindly respond.Thanks

Replied.

invisible!:

@pumping, this 'big claim' fear is even more reason why I want to reduce my presence in the insurance sector.

Anyways, I will offer to insure the insurance companies against any sudden 'big claims'.

Solution is to position in conservative insurance companies. Being able to evaluate risk is a major strength of any good insurance company.

pumping777:

The speculation is that Mbenefit was hit with a huge claim in that quarter which is why I said if this trend is halted, the full year results may exceed expectation.

It is because of this that insurance companies have one of the lowest dividend payouts because they need to have huge reserves to handle claims.

Learnt GTA was dumping the insurance stocks and that was responsible for the RED this past few days!!! Apparently, the insurance were fidling with the prices.

invisible!:

@pumping, this 'big claim' fear is even more reason why I want to reduce my presence in the insurance sector.

Anyways, I will offer to insure the insurance companies against any sudden 'big claims'.

Crusader faced the same thing. It is part of the insurance business so nothing unusual