₦airaland Forum

pluto09:
Most of what you wrote about diamond bank are at best misinformation and it clearly shows your bias against the bank. That is not unexpected anyway from someone who has suffered heavy losses on the bank in recent time. I am equally appalled at some of your conclusions for other banks you mentioned in your posts. Diamond and fcmb have bad fundamentals but fbnh is good fundamentally. May be we are not reading the same financial reports from the aforementioned banks.
Let me address one of the issues that you raised about diamond bank that shows your lack of understanding of how financial institutions work. The bank has been retaining its earning in recent past because of CBN rule.
Diamond bank CAR is close to the regulatory minimum and they need cash injection of tier 1 capital(owners equity). The best way to do this is to raise funds by selling new shares. With the depressed state of the market,that option was considered inappropriate and they were left with only one option- retained earnings. They have been doing this for some years now just to shore up CAR and not to pay some people as you insinuated in your write up.A look at the shareholders fund over the years will confirm this.If you are looking for dividend, diamond bank is not for you.
I will stop here for now and address other issues you mention later.

Baba thank you.
Not those blablabla..

+

Cadillac15:
My dear. I didn't just write because i have hand diarrhea. Go and study the trading trend in the last 52 weeks. Then Google that group and their businesses. After that, read the banks financial statement in the last 2years and QTR 1 2017 statement. If you dont deduce anything, then you are not worthy to hold a stock.

Stop consoling yourself. Cut you loss and move on. I dont have money to tie down with one bank, without interest.

Ok?

I see what you're trying to do there, but I will not engage in any fruitless argument with you.
Were you blinded to these facts before you dived in with millions. Now you're crying foul and forming expert financial analyst after you have been burnt by your poor investment decision.

My loss positions and my investment decisions is my sole responsibility. Either consoling myself or having high PB, as long as I'm not distracting or complaining to anyone, I'm cool.

I just mentioned you, to stop scare mongering and spreading FUD in 2017 by posting a link from 2013 as facts.

If you truly want to caution investors and not looking for cheap entry, what stop you from posting your analysis of their financials for the past 2 year, and state clearly your observations why you think people should avoid the stock, like other decent members do. But no, instead you're posting obsolete links as facts

austinkenneth:
The big guys are exiting this stock. But they have to do so at target prices. The catch is that it is easier for them to exit in a volatile (up and down) situation.


If the Nigerian investors who want to buy are united, they should simply chill, do not bid, and this stock will go down to N0.8.

Then they can buy. The current ups and downs end up providing liquidity for the foreign guys to exit at higher prices.

Which higher price. Do you know how much the foreign guys paid per share. At 1 Naira, it's even nonsense to them

Cadillac15:
Diamond bank is the most stupid share on NSE. I made a loss of N300k on that stock last week and i have sworn never to buy it again.

I didnt know much about the fundamentals of the company before i sank my fund there but after my loss, i had to research and my findings revealed i was foolish from the word Go.

Diamond sold about 20% of their equity to a foreign partner two years ago in order to get the necessary funds to boost their Tier 1 & 2 capital. That partner has been trapped in the Nigerian market since then and has been desperate to leave.

Hence, the profits of the company for the past two years has been channeled towards paying off the partner and this is expected to continue for the next two years. This same partner has fund managers in the country who manage their holdings and they have been divesting from the company gradually which is why you will notice heavy dumping whenever the share price gets close to N1.

They applying a two pronged approach in leaving the Nigerian market:

1. Sell back shares to the company in return for profits declared ( hence no dividend to other shareholders)

2. Sell shares to uninformed and stupid shareholders whenever the price is right, to reduce their holdings

http://thecitizenng.com/carlyle-group-buys-into-diamond-bank-as-nestoil-fails-to-acquire-block-shares/
2014 news

http://www.vanguardngr.com/2013/06/foreign-investors-shun-diamond-banks-550m-bonds/
2013 news

http://www.gulfafricareview.com/07/12/2014/business/carlyle-group-acquires-18-stake-in-nigerias-diamond-bank/
2014 news

Like i said, only a fool will venture into that waters and i have learnt the hard way.

JAHBLESS

This is, trying to cause unnecessary panic for its shareholders.

Do you have a copy of the agreement between Carlyle group and the bank.

Care to show us links indicating Carlyle are hastily trying to withdraw all their funds from the bank?

This information would have been relevant, if you posted it when the economy was in deep recession and foreign investors were fleeing in their numbers. And not now when they are signs that the economy is recovering and foreign investors are gradually coming back. You're now telling us that one of is them is crying and desperate to leave by fire by force.

Uncle, if your jijo with the bank did not go as planned, it's not enough reason to spread FUD with irrelevant links

Disc: I hold a significant amount and my position is negative. But the bank is not as bad as this oga is trying to paint it.

OBAGADAFFI:
That a stock is an underrated champion.

Yes oo, I duff my hat for am..

PETERiCHY:
Among the 8 banks that survived CBN Forex sanction FIDELITYBANK @80kobo is trading 90% below it N8:00k Initial Public 0ffer Price in 2008.

Do your homework before the TRAIN move.

*ThE OcToPuS*

90% or 1000%?

currentprice:
don't rely on this,,,,the bid may disappear when mkt open

Has Morgan enabled pre-market trading?

duni04:
UCAP anticlimax. We were all waiting for q1 to break the N3 resistance. Jumped out like a true cowboy without a scratch thanks to the bros that posted the Q1

Seriously, wassup with Diamond....See buyers lining up.

Market looking interesting today.
Even Diamond on full bid.....

Fidelity @77k? I will pack all...

Willie2015:
Yes sir

Thank you sir

Willie2015:
Different Registrar with different procedure. GTB Registrar requested that I should process a transfer form , Morgan Capital sent a copy to my e-mail.

I print same and sign as the transferee and mail it back to Morgan Capital for them to liase and handle with the Registrar.

Was it approved after this procedures?

duni04:
There's a very strong possibility that Fidelity's q1, will be spectacular. Left the bus today to wait at the <0.87 junction

badt guys...

locodemy:
The best time is yet to come............MAY

Sir Loco
I submitted 4 e-dividend mandate form through my bank, 3 went through (approved), but cardinal stone did not (disapproved).
Reason was "No Signature Specimen". They went further and wrote "Shareholder to process transfer form".
I was confused because they were signature in all 4, and other registrar did not give any complain.
I went to my bank today to complain, but they instructed me to contact cardinal stone customer support.

Do you know what could be responsible, and what is the easiest way to resolve this?

Thank you

Coolcash1:
Sellers don dey tire nah...Overpriced stock.

I said it yesterday the rally was getting weaker. It is no rocket science.

Coolcash1:
I see it too. I am not sure the stock can't do N1.2 before qualification date.

Discl: Entered bid at 0.96 today

Where you able to get any unit?

Fidelity
Rally getting weak...

fxuser:
Yhuup

Please how can I place a fund withdrawal request on morgan...

Please how can I place a fund withdrawal request on morgan...

pluto09:
Yes you can place your orders before market opens.

Thank you very much..

pluto09:
They have an online trading platform where you can place your orders and it will be executed. Pre-market trading? Do you mean placing your orders before market opens?

Yes sir

pluto09:
Cardinalstone is a very good stockbroking firm/registrar. You can go to their website to learn more. You can also call Joshua on 08175568622 or Abiola on 08176139246. They will be ready to answer all your questions and put you through.

Bro do they have online trading platform?
If you use them, do they allow pre-market trading?

Coolcash1:
Bro, you are spot on! If only one can read the mind of Femi on when he wants to perform his magic on the stock then entry becomes easier...Though I am currently in the bus with a massive red position patiently waiting for Femi to come and bail me out..

Same with me bro. I no dey go anywhere until Femi come rescue me.

leo1234:
The speculators are here.

Baba Dollar and Egbon Dollar....

locodemy:
I don drink ogogoro go check the pricelist again,the thing no trade reach 1,000,000 units today.
I go still check again by 7pm.

Sir loco, the tin trade above 4m units today, but na on spiked volume when sombori dey dump/pump. He stock don experience similar volume spikes three times in the last couple of years.

Edit: check Bloomberg, NSE data lagging.

currentprice:
when i have successfully sold over 1 million unit today

1 million units... cross deal or on the exchange?
Daily average volume is less than 500k

For those salivating for AIRSERVICE.
It's liquidity at that price is questionable.
Looks like a death trap to me.

....WAPCO

Where can I see pre-market data?
Morgan no longer supports pre-market on their platform.

WAPCO closed very strong.

Godisfaithful:
Egbon Dollar

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