₦airaland Forum

thats a good idea and you do spend a lot of time on nairaland!!! Just work out the clinches so that people would not think you are 419. You feel me?

enurayce:
@frank and other
Please what is your take on the insurance sector and growth in some of the low priced stocks.Some recommendation will be appreciated.Is it ok 4 my broker to charge 1.25% 4 cert verification

@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?

@ijogbon,
That is the best strategy especially if you are in it for capital gains. Who said you can't eat your cake and have it?

ijogbon:
@Tmoni

This is something I have tried and it does work wonders.

You said you bought for an average price of N10.70? If the price it is currently selling for is N18 and you have made N1 million that means you have 136987 shares or there aboutz? Fine, that means you spent about N1,465,754 in total acquiring these shares? At the urrent price that would be equal to about 81431 shares.
What I would do is take back my position in the bank to my initial investment - N1.4 million which is now 81431 shares, and take N1 million from the market. That way if there is more upwards movement you can still reap considerably but if there is downwards movement you can either buy or watch.

The gurus, how does that sound for an amateur?

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, pls 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 cos 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.

thanks all for your contribution
@windywendy,
The information you posted was really insightful

@brownbaby,
Register and download the free ebook from www.stockmarketnigeria.com. That should give u the basic gist.

The chic has become rude and anytime i call her, her voice tone sounds like i am a bother. I am also not sure that they will cross the reconsolidation mark. I was at their office the other day and one poor guy was just sitting there unattended and when someone finally attended to him, she was almost shouting at him. They are very cool to me. it is crazy. I introduced my mother to them and from the chic's voice tone, my ma freed them.

She doesn't know jack and doesn't even know how to spot a good bargain even if it slammed her on the head.

Almost every stock is not available.

I just love good customer service and i don't seem to be getting it.

Am i alone? How is cashcraft customer service? Do they deliver or are shares never available?

@everyone
Please does anyone know the amount i would be charged if i want to transfer my holdings from one stock broking firm to another? If it is percentage, how much? I am really considering changing stock brokers because my stock officer has been pretty annoying of late and want to know if it is worth it. Thank you in advance for your help

@everyone
Pls does anyone know the amount i would be charged if i want to transfer my holdings from one stock broking firm to another? If it is percentage, how much? I am really considering changing stock brokers cos my stock officer has been pretty annoying of late. Thank you in advance for your help

@Dis Guy,
I meant the new fund they just launched. How does one subscribe to it.
@Tmoni,
Thanks for the insurance sector tip. Was beginning to worry about my mutual benefit stock

@everyone
I just started a book review club with a friend of mine. What we do is to read a paticular number of books, set deadlines for review them and send to each other's email addresses. I just completed reviewing "Beating the Streets"  by Peter Lynch. I have attached a copy of my review for anyone that needs it. Anyone that is interested in joining can contact me on my email address.

What is the minimum amount required for subscribing to cashcraft fund?

@topic
A relative was in the truck business but pulled out cos he has other concerns. He wants to sell the "truck head". If you are interested, u can send me an email at chikamso@yahoo.com and i can hook you guys up.

@CBANG
Thank you for the information.

kanugab:
You guys doing good job. Thats nice of nija guys. please somebody assist a novice. where can i get the run down list of companies END OF YEAR ACCOUNTING PERIODS stock

If you are based in Nigeria, you can grab a copy of stockswatch weekly. The middle page called "stock tracking" page has an extensive list of all quoted stocks and their respective end of financial year.

@everyone,
Who has heard of cash craft public offer? I need more gist.

@windywendy
Any idea of what is happening to mutual benefit assurance shares? Have the investors that bought into the convertible bonds started redeeming their shares?

@olucooler,
Personally, i don't feel ecobank. I think it is too expensive at 7.58 with an E.P.S of 0.08.

@egoldman,
Dangote Flour mills

@Horus,
That was a wonderful post. I really enjoyed reading it. Keep it up

@spoilt
Very funny, i am reeling with laughter

Seun,
People were just trying to advice you but maybe you did not understand what they were saying. Personally, when i read the first post, i thought "Who is this guy?" ,"Does he want to be a task master or something?" and i am so sure that 90% of anyone that has either viewed this thread or contributed to this thread thought the same way.

The issue is that you did not present your proposal well and now that we (at least i) understand you mean, it seems less "taskmasterish". You are good, no doubt, nairaland is wonderful, cool, but the lesson here is to always consider what the other person might think when reading or listening to whatever you are writing or saying. Nobody hates you or wants to "bash" you. (I am not sure i really know what that slang means). It is just that in everything, the manner of approach matters. Partnership proposals should make the "lower partner" feel like he has a say. This is just a humble piece of advice and i hope you take it so that you don't lose any other profitable business plans you may have in future due to your manner of approach.

Personally, i think the idea is tight.
All hail the gracious and merciful owner of the land!!!

@Mr Frank,
Thanks for the info on the duration of a public offer.
@everyone,
I heard from a friend's stock broker that Dangote Flour Mills public offer is coming out in June at between 20-22 naira. Not sure of how concrete the info is.

enurayce:
@Frankiriri
I need you all to please help me with a list of possible low priced stocks with growth potential(in the short term of between 300-500%) and why you think so.Indicators could be provided also.
Waiting for your response
Thanks

Ah Ah now, 300-500% ? That one is too much o. You wan kill person? In my opinion, most equities are becoming overpriced and the probability of get such percentage returns is really slim. As Mr Frank said, you should aim really low, and when your choice of stock performs better, you begin to feel like a guru. If it performs poorly, nothing spoil, We all learn from our mistakes.

A friend in school once asked me for a stock that would yield about 300% in 2-3 months and i got so irritated that the first thing i told him was that the nigerian stock market is not a money doubling scheme or get rich quickly scheme .We should all try as much as possible to balance the drive to make quick money with qualitative and quantitative info regarding the companies we are interested in. Try talking to people who bought nigerian breweries about 2 years ago at 100 naira plus and they will tell you. Personally, i bought at about 50 naira and i have not still recovered from it cos the price keeps oscillating between 30 naira and 40 naira. It is all good.

@Allcorrect
Charges on verification actually depends on the stock broking firm itself. Mine charges nothing but they have their faults.

thanks all for your replies. I just taught of looking into the mutual funds thing just for general info.

I was going thru the ibtc equity fund website and i saw two prices quoted. What is the difference between a bid price and an offer price. Pls can anyone explain. Thanks

@Mr Frank
Do you have any idea when dangote flour mills public offer is coming up? I heard from someone that the offer is only going to last for a day. Do you know how true that is? Any leads?

@dollyp1
Thats a relief

@dollyp1,
From my calculations, if you bought the shares in question from the secondary market, using the former commision rate, the maximum rate a stock broker should charge is 4.07%. If that is the case, then 4.07% of 69790 equals 2,840.45. My advice is for you to find out the exact % your stockbroking firm charges and do the maths yourself to prevent any "petty rip-off". I know that the difference is not that much but as they say, "Little drops of water make a mighty ocean" A little 200 naira here, a lil 500 naira there and before you know it, you are forfeiting hard end money on miscalculated rates. Just try to be at the helm of your affairs.

@Tmoni and Omoba,
Thanks for the info about UAC and Transcorp
@dollyp1,
I think diamond band is good for medium term because of the investment by Actis. This would provide them with additional funds to provide more services to customers. They may decide to go into branch expansion, offer better services etc. That would in turn affect its earning and lead to capital appreciation when better results are released. Pls note that it may go either way.

@everyone,
You can send your letters to Abayomi Obalujo, the stockswatch editor at editorstockswatch@yahoo.com. You can tell him that you want a website built and all.

Tmoni:
i wonder where mr frank, windywendy and cheexy are,


[size=8pt][/size]come back



@dollyp,
sent u a copy of the daily update

I am here. Didn't renew my starcomms subscription early. I am back now

@Timoni,
In Stockswatch this week,
LASACO emerged stock of the week, gaining 27% even though National salt led the price gainers. This is due to the superior volume of trades.

EFCC freezes accounts of Nospecto, Flagship Asset Managers, Treasureline, Wealthzone, Wealth Solution and Green minds over illegal business transactions

Stocks to watch are UBA, Oceanic, University press, Crusader, NAHCO, Afribank Mutual Benefits, Nigerian German Chemical, etc but it all depends on whether you are a Short term, Long term or Medium terminvestor

UBA controls 15% market share says GCR (Global Credit Rating)

FBN gets NSE approval to raise N100 billion naira

UAC-PROP's stock nosedives amid investor dissatisfaction

Nestle promises strong organic growth in 2007

Operators express mixed reactions over market performance after 2007 polls

Unilever set to recover-operators

International Brewries to raise N870 million through a public offer of 1 billion shares at 87 kobo per share (people are of the opinion that the public offer is not enough to raise the necessary funds as the brewery business is very capital intensive. Its profit has been dwindling lately. In December 2006, it disclosed a turn over of N313.04 million as against 401.4 million in 2005. Loss before tax reduced to N361 million from N523.7 million in 2005

There is the market update and many more articles, These are just some of the highlights.

@windywendy,
Don't have much info on first inland bank. I know that a total 152,370,815 units were traded last week. It recorded the second highest volume for the week, second only to FCMB PLC. It closed at 7.23 with 4,818,350 units traded today alone. It has been appreciated by 25.73% last week. I don't have ready info on the latest earnings or any planned dividend payout, but will get back to you on it.
@everyone,
What is your verdict on first inland bank.