Truly interesting thought. Quite encouraging that he provided actionable thoughts.

The counterbalance to this would be an evaluation by health experts.. Using epidemiological models for example. With his suggested approach, what would the net impact be? How many potential deaths? We need to find a middle ground, we need to think, we need to find a solution that finance experts and health experts (who understand mortality implications) can agree on.

It was estimated that the Spanish flu killed as many as 500,000 out of Nigeria's population of 18 million at the time - over 100 years ago. We are facing an uncertain situation. Now is the time for us to really think.

Eulalia:


I'm telling you.
That's why we need to pray for God's guidance.
I'm a sis.

It is well. As a guy, I totally understand what you said . The wisdom of God is indeed supreme.

Pro 31:30 KJV Favour is deceitful, and beauty is vain: but a woman that feareth the LORD, she shall be praised.

Get a sulfate-free shampoo as well as a conditioner e.g. Cantu. DO NOT wash your hair daily. Say every 1 to 2 weeks; some even go longer, depends on you, your hair length and style, weather etc. Get maybe coconut oil, olive oil etc for daily application to give some shine. Coarse hair can be something else but with consistent use of conditioners, you should be fine.

I assume you do not want to keep it natural, else relaxer is simply the way to go.

And I agree with the comb comment above.

Barondenigeria:
Abdulbasit Shuaib and Yusuf Ibrahim
29/10/19



Investments and remittances

Brexit presents significant economic and political uncertainty. For the average investor, unpredictability means danger! Foreign investors would be weary of investing in emerging economies such as Nigeria’s. Over the years, Foreign direct investments (“FDI”) in Nigeria has declined significantly by a cumulative average rate of 19% between 2014 and 2018 with the largest decline recorded in 2017 and 2018 (post Brexit referendum periods).

On the other hand, remittances to Nigeria is the second highest in Africa growing at an average rate of 4% between 2014 and 2018 with the largest growths experienced in 2017 and 2018.

Although correlation does not imply causation, we could assume that Brexit has contributed to the trend experienced in both FDI and Remittances. This could continue in the foreseeable period following the breakup of the UK and EU’s economic relationship


Source:
http://www.gpggnigeria.org/the-impact-of-brexit-on-nigerias-economy/

I think it is a stretch to say Brexit impacted FDIs without indicating the extent. You left the recession, you left the foreign exchange crisis and went all the way to Brexit? I do not think Brexit moved the FDI needle in any significant manner. Our own troubles did a good enough job.

candlewax:


I don't know what gives you guys the impression that I'm a dumb person, I find it difficult to embarrass people that's understandable but it's easier for me go direct my staff what to do and it will be carried out. I know smart decisions but may find it difficult executing it myself but if it were business wise I can instruct someone to do what o can't do. FYI I have been living and surviving alone since I was 18 that's 12years now. If I am really dumb I won't be in lag

Hello... The problem in this situation and from all you have said is simply that you are "too nice".

Look for the book "NOT NICE" by Aziz Gazipura and read it.. You need it. You do not have to agree with all his views but the mindset and principles will help you..

Cheers

I do not think the author is directly teaching that that is how society is or should be structured. Let us be observant and examine it patiently.

The book says that gender roles are stereotypes and then goes ahead to list examples of these roles (which are stereotypes).; and truly, those examples are stereotypes.

Lastly, we do not know what follows or precedes that page in the book, and so cannot judge the author's motive. For example, the author may be trying to make a case against gender stereotypes.

From what has been shown, it cannot be said that the author has done either right or wrong on the matter of gender roles.

HAPPY NEW YEAR!!!

https://www.forbes.com/global/2001/0820/036.html

A bit dated but interesting article nonetheless. Hopefully, we will have such arise from this country.

Ugosample:



Yea

the Ghana currency is a bit more tricky because they don't run the konf of casino that Nigerian central bank runs (using dollars to defend cedis)

With a strengthening USD, it is telling on the cedi

but naira seems to be flat because of the casino (CBN)

The CBN has been increasingly active in the Investors' and Exporters' window. With elections a few days away, exchange rate is the last thing the government would want the electorate worried about.

Ugosample:



Yea

the Ghana currency is a bit more tricky because they don't run the konf of casino that Nigerian central bank runs (using dollars to defend cedis)

With a strengthening USD, it is telling on the cedi

but naira seems to be flat because of the casino (CBN)

Casino..

The floating matter... That's a discussion for another day. Macroeconomic indicators can be tough to predict, especially in the short term but making good investments helps weather the period turbulence.

katamo:
Good thread.

One of the most acclaimed books on value investing is "The Intelligent Investor" written by Benjamin Graham - widely regarded as the father of value investing. Here is a link to the e-book for those who are interested:

https://www.e-reading.club/bookreader.php/133361/The_Intelligent_Investor.pdf

I found chapter 20, which covers the concept of margin of safety, very educational. In any case, you will need to overlay "Nigerian factor" to some of the concepts in the book since our market is not as developed in terms of efficiency, liquidity etc.

When investing, always remember that it's not what you buy that is most important, it's what you pay. Good luck investing!

Yeah. I think it is the first book I really read on investing. Good foundation on how to approach assessing the value of a company. Chapter 8 - The investor and market fluctuations is another fine chapter. Mr Market...

Although.... The books should be obtained legally.

Ugosample:


I do


in fact, it is proceeds from money market I use to play in the NSE

Plus extra money

Plus the interest rates in Ghana are doing very well too, and the currency is stronger than naira, so I do some cross dealing

Nice one. Makes good sense. Another thing I learnt at least from a book called The Warren Buffet Way is to consider going longer into bonds if the returns are close to or rival what a satisfactory equity investment would give.

That currency bit is a bit tricky though. It might be worth more at the moment but it is what obtains when you need your money back that matters most. If the Naira appreciates relative to the Cedi, then you lose some of your money, if the Naira depreciates, you gain. But hey, if you adjudge that the returns in Ghana compensate adequately for the risk, or if the risk of a depreciation on the Naira seems higher than that of an appreciation in Ghana, it is reasonable. However, high interest rates may indicate that a currency should be weakening versus another currency with lower interest rates.

Ugosample:



it's good to see you once again


I have my eyes on a few stocks, and I will be loading them regardless of the decline in prices


I'm sure when the time is right, I would reap bountiful

Do you also take advantage of the yields in the money market?

Ugosample:



it's good to see you once again


I have my eyes on a few stocks, and I will be loading them regardless of the decline in prices


I'm sure when the time is right, I would reap bountiful

I hope most of your funds aren't in a bank account yielding little or nothing.

Ugosample:



it's good to see you once again


I have my eyes on a few stocks, and I will be loading them regardless of the decline in prices


I'm sure when the time is right, I would reap bountiful

Good to hear from you too.

Despite my inhibitions regarding advising on what stock to or not to buy, you can bring up particular companies from time to time and talk about why you think it might be a good investment; If I'm able to, I'll share my thoughts. However, as the market waits on nobody, if you have conviction and have done your work well enough, you can go ahead and make your investment and then talk about it after.

Been a while. Had to focus on a few things.

Since then, the NSE has maintained it's decline over the calendar year. Investors, especially foreign, have largely chosen to remain on the NSE sidelines due to factors that likely include higher returns in advanced markets (US Fed hikes) and political uncertainty here in Nigeria.

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful."

But please, stick to your circle of competence and do not forget margin of safety.

In any case, if one lacks conviction of or cannot reasonably assess the suitability of an investment opportunity, it is better to put your funds in low risk short to medium term fixed income funds/investments until a suitable opportunity arises, than to be pushed into making unforced errors.

Gistpeeps:


Jonathan said he turned down the advice by the then Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala; Attorney-General of the Federation and Justice Minister Mohammed Bello Adoke; Aviation Minister Osita Chidoka, who was a compere at the book launch; and his Senior Special Assistant on Domestic Affairs, Warpamowei Dudafa.
....
He writes: “They were recommending sundry alternatives, but I was quiet in the midst of their discussions. I hugged my thought, figuring out how to do that which was best for the country. My personal interest was receding rapidly and the interest of Nigeria looming large. I excused myself and left the sitting room. I walked into my study. Even there, my mantra was a strong circle around me, supporting and comforting me. Let the country survive. Let democracy survive. My political ambition is not worth people being ‘soaked in blood’.”

https://all-gists..com/2018/11/jonathan-reveals-advised-not-concede-defeat-buhari-2015.html

What sort of reporting is this? This is BAD reporting.

You said he turned down their advice. He didn't say that in the passage you quoted. He just said he hugged his thoughts.

You also gave the thread a DISHONESTLY FALSE title when we consider your write-up. Jonathan said those persons were recommending sundry alternatives. What alternatives, you didn't say. Could one of the alternatives have been that he should concede defeat? You don't seem to have evidence for or against that.

As far as I am concerned, all you put up there only identifies some or all of those that were with the ex-President at the time and not the exact content of their advice or discussion. You did not even quote any passage where it was said that Ngozi et al were there, but let's leave that aside.

I think people who create threads like this should be banned but please do good next time.

And mod(s), please read these threads well. You brought it to the front page and that basically makes you an accomplice.

Ugosample:


Nice

I'm looking mostly at the banks, because their stocks are very liquid, and they pay dividends on a regular

Dangote cement is also on my radar

Then two or three insurance companies

They may be liquid but that has its negatives too.

Payment of dividends does not always mean much. Why pay out dividends if the retained earnings can be used to generate much greater returns in the future than would be available to the shareholder through other investments.

For banks, for me, risk management is highly important. Impairments can arise out of nowhere. For the smaller, weaker banks, it might be better to buy them only when the prices are so low, they are begging to be bought. And even then you want to be sure the bank will remain in existence.

Please read that Forbes article in the earlier post. I think it might be a a good approach for assessing banks.

Ugosample:


So tell me, what techniques do you use to determine the fair value of the fundamentally sound stocks, and you could also give me ten stocks YOU THINK are fundamentally sound stocks

your opinion

Thank you

We can discuss individual companies you are interested in. It will be great if you can share what you think about the companies as well.

Good book on qualitative analysis - "Common Stocks and Uncommon Profits and Other Writings" by Phillip Fisher.

Googling "how to value a stock" should give you more than enough resources on valuation.

I like the article in the link below. Talking about value stocks (in a strict sense).

https://www.forbes.com/sites/johnnavin/2018/06/29/identifying-value-stocks-is-methodology-and-art/

Valuation is a highly subjective exercise. And I can't tell you that one way is perfect. I will post some links that speak to it.

At the end of the day, what one is doing when investing, is putting in money today to make/receive money/cashflows/earnings in the future. And if one looks at a stock as not just a ticker but primarily as ownership in a business, then future earnings
/cashflows of the business should sufficiently exceed your investment today. If these future cashflows can be accurately and confidently determined, then one can discount them at a required rate of return to know how much one is wiling to pay today. However, for stocks (unlike many bonds, assuming there is no default), these are usually variable.

For an investor willing to invest for the long term if need be, it might be more important to take time to understand any business you will be investing in than to focus on valuation. If you understand the business well enough, then you can have a reasonable sense of its prospects. This understanding will help make better investment decisions.

Ugosample:
I'm here to answer present.

I'm a potential value investor, as I dedicate a certain amount every month I throw into the equities market per month, more like funds I can afford to lose, or excess cash I got from a profitable deal


However practicing this overtime has made me see my capital grow, and I am shifting focus to.....

Maybe I should just pick fundamentally sound stocks and be buying them at intervals and piling them up, with the cashflow building up over time via dividends

That's why I'm excited about this thread.

once again, I'm here to mark present

Great to have you here. What you are doing is commendable but I agree you may want to stick to fundamentally good stocks, especially if you are in for the long term. However, it is not sufficient that a business is fundamentally sound, the price should also be such that it gives you a "margin of safety" should things not go as you may have imagined they will.

As earlier indicated, your approach is commendable but another way of doing it - if you are able to conservatively value these good companies - is to be patient until an opportunity arises where the price is low enough for you to invest with sufficient margin of safety. You could invest your money in short-term fixed income securities or other highly liquid, low risk investments for the time being. If you can't conservatively value the stocks, then cost averaging might be fine.

In any case, periods of pessimism sometime provide buying opportunities but one still needs to carefully examine and determine what and which to buy.

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffet.
“Buy when there’s blood in the streets.” - credited to Baron Rothschild.

And on margin of safety: "A margin of safety is achieved when securities are purchased at prices sufficiently below underlying value to allow for human error, bad luck, or extreme volatility in a complex, unpredictable and rapidly changing world." - Seth Klarman.

Hello All,

This thread has been created to provide an avenue for the exchange of ideas amongst those primarily interested in fundamentals-driven equity investing. Discussions may extend to other relevant topics as well.
While fundamentals-driven investing is broadly divided into value and growth investing, I share the opinion that all good investing is value investing, that is, buying an asset for less than it is/will be truly worth (I subscribe to this broad definition). There are other approaches e.g., quantitative analysis, qualitative analysis, event-driven investing and more, but the main idea is that investing is informed by an assessment of value.

While there is a thread for Nigerian Stock Exchange stock pick alerts, it seems heavily skewed towards technical analysis. The aim here is not solely on the NSE. While it might take most of the attention, and that is reasonable, discussions should hopefully go beyond companies listed on the NSE.

On this thread we can share investment and learning/educative ideas, discuss and provide constructive criticism, connect with like-minded investors/individuals, share other relevant information etc.

Hopefully the thread takes on a life of its own, but I intend to post from time to time. There might however be some limitation to what I can share so I greatly encourage and will appreciate other contributions.

NB: Whatever opinion I post is personal and should not be construed as being of any other form. It is also not to be taken as investment advice or counsel. Just my view. Thank you.

Hmm. He should provide some more steel to the midfield. I think he'll prove a good buy, even if it's as a result of his experience.

But the article does not say what the thread title says. It only indicates that it reduces the risk of the ailment by 60%, not blindness.

Khutie:

•••How them take dey sing am for school?
Know wetn yhu dey tawk before yhu rush to quote person...this is it

"Long live Spain!
We sing together,
with different voices,
and only one heart.
Long live Spain!
From the green valleys,
to the immense sea,
a hymn of brotherhood."...etc

Patience, patience. You should have checked.

"..King Carlos III adopted the song as the official march of Spain in 1770 and it later became the official anthem.

While lyrics have been written and used for the anthem in the past, none have ever been made official by the Spanish government.

During the dictatorship of General Francisco Franco the national anthem was given lyrics penned by fascist poet Jose Maria Peman but those verses were dropped on the dictator's death and Spain’s transition to democracy.


An attempt in 2008 by Spain's Olympic Committee to set words to the music of the national anthem backfired and was quietly dropped after widespread criticism of the choice."

https://www.thelocal.es/20180223/no-word-on-spains-national-anthem

I believe the lyrics you posted were the proposed 2008 lyrics that were subsequently dropped.

Khutie:
•••Ronaldo and Messi same case and sentence? Spanish government no get joy against foreign players.
Good luck to CR7 tonight. Its business as usual…
Sergio Ramos and Co. no sabi sing their national anthem o, if na to break person hand him go sabi .

The Spanish anthem has no lyrics though.

chloride6:


Profits are decent relative to existing levels of equity.

Yes Sir

SalamRushdie:


9.9 million dollar profit after tax is decent profit in any clime.. it's equivalent to 3.6 billion Naira...i am sure if we shake your village and two surrounding villages we cannot get that amount out of them

Not really. A 4.1% ROE although based on closing book value is not too decent. It's like you getting $4.10 for every $100 you invest.

Compare that to long term inflation rate and risk free rate on US government bonds and depending on your goals, you may not be too satisfied considering the riskiness of the enterprise.

bukatyne:

By using the BC (before Christ) timing. It counts down

Makes sense. You are right I believe. Well done

1. Pot
2. IV
3. 8
4. Bottom right
5. Baby
6. A straight horizontal line halfway.
7. 001,333,777,000
8. One went first and came back, then the other left for the opposite shore. You didn't indicate they left together or reached there and stayed there.
9. 9-5=4; 6/3=2; 1+7=8; 2*4=8
10. Coming back to this.
11. Hmm
12. Another planet?