₦airaland Forum

sirflav:
The naira firmed on Wednesday following the expected Nigeria-China Yuan swap deal announced by the central bank of Nigeria (CBN) over the week.

Naira firmed from its position around 322 to 317, as bureau de change (BDC) operators claimed they were already seeing less pressure for dollar demand.

https://www.thecable.ng/naira-stronger-after-china-nigeria-yuan-swap-deal

This is why I don't believe Nigerian newspapers too much

I have sold dollars consistently at 320 over the last 3 days

Manonamission:
http://nse.com.ng/Financial_NewsDocs/13347_GUARANTY_TRUST_BANK_-_Q1_2016_ACCT_FINANCIAL_STATEMENTS_APRIL_2016.pdf

EPS: 90k

Meanwhile FBNH have refused to give us 2015 accts

FCMB and Diamond Bank on Full Bid!!!

It is my turn to shine!!!

Hell yeah!

Downtime on XNET services from the Nigerian Stock Exchange -

Implication no real time trading info until resolved by the NSE

APR alert don show!!!!

lancee:
I think 500 naira up to withdrawal 999,000 naira
1000 naira from 1 million naira

How long does it take from when you send in a request?

Manonamission:
One of the primary responsibility of a receiver to a company is to settle debts owed by the company. AFREN shareholders are the ultimate losers. Creditors are given the priority before the owners of the company.

Oh the shareholders have definitely lost out completely...

Zenith bank's lending is subordinated to that of the bondholders...at current oil prices not much will be left if the assets are sold at fair value to go Zenith after the bondholders have taken their cut and the receiver has taken his costs to sell

Raider76:
Crazy! Insurance sector is so inconsistent it confuses me.

There is no way a responsible SEC should not probe this result!!!

How did they go from PAT of N2billion as at Q3 to N713m in just three months

Without any major event happening and without any warning to shareholders Kai

ufotty2001:
when i said that zenith bank will get to 10.50k u thought i was joking... but FBNH why u do me like this now! UBA thank you very much waiting 4 ur Q1..

I will not buy Zenith Bank for more than N8:00k

I am sitting here waiting for the day they will write down their oil & gas bad loans starting from AFREN that is currently in receivership.

Maybe they will be like Accessbank then

rebekah2011:
Me ke? who i be sef? small investor. It is just from experience of those that have released results but market refused to be fair to them ni.
We are waiting sha.

I heard some one on the inside has major funds stockpiled to increase voting power at N2.5

feelamong:
Charlie Robertson‏@RencapMan ·

#Nigeria may be excluded from MSCI #Frontier equity index by 29 April, due to capital controls. Could eject $0.5bn of foreign investment



best bet is to wait till they all exit by April 29th...

Thank you for this...

Maybe I shall JO all positions (excluding AFRIPRUD) and resume May

locodemy:
Good morning my beloved brothers and sisters in nairaland.i will like us to discuss a very important issue here.Since the introduction of the realtime online trading platforms by brokers which allows everyone to trade........Do you think it is a positive move that can benefit long term investors since the buy/sell commissions falls within 4% and anyone who sees 10% profit in his share pulls his trigger to sell and have about 6% profit for himself?

To me i observe that it will be difficult for people to make money except the smart traders who gets info from the insiders.it is like stock biz is no more a biz for everyone except those who wants dividend every year.

pls contributions are needed here.........

You need a new broker...

Buy/sell commissions on Morgan ~ 2%

chillykelly86:
I have my eyes on Transcorp.
Electricity tariff increase on my mind ...

No wound yourself oh

ufotty2001:
diamond bank making me happy... ji 1.13 and 1.18

ExLaidback:
That must have been a good one.

It was bro, as always didn't want to use greed to jinx a good ride... There is only one must hold in my portfolio

I just JO from FCMB, its been a good ride

If it retraces, I may revisit before dividend

NEM, my darling NEM, I am waiting for you to wake up

ExLaidback:
Hello House,

I don't how many people use Investment-One, but I do and recently I've begun to notice some unacceptable lapses in their service delivery. So I don't know if there's anyone else experiencing this or it's just me.

Like a little over a week ago I placed an order through mail and it went unacknowledged and unexecuted. I was upset.

Today again, I just observed the same thing. So perhaps there's anyone with similar experience, before I know which step person go take next.

Very horrible service from Investment- One...

Took them several months to do little things... till today I don't have my FBNH dividends of last year, account officer picks call and respond to emails only when they feel like. I am of one mind to add the MD on LinkedIn and give them a piece of my mind.

With all these negatives I wonder why they charge 4% for in and out (1.86% buyside & 2.14% sellside)

I still have a long term portfolio there that I don't trade but I have almost 80% of my investment funds with Morgan Capital now...

Soon I will leave those people completely

ufotty2001:
PLEASE CAN SOMEONE IN THE HOUSE TELL ME THE REASONS WHY DIAMOND BANK CAN NOT GO ABOVE 1.20K SINCE LAST WEEK AFTER CLOSING WITH FULL BID...

Relax... All the gra gra will end when accounts are published. I won't be surprised insiders are using the current low prices to increase their holdings (side-eyes FBNH)

Disclosure: I entered at N1.10K...

Manonamission:
The reports you are referring to were for Q1. You can't extrapolate Q1 to full year 2016. A system that didn't work in Q1, aggravating the fuel scarcity all over the country. That was the reason for the reversal.

I totally respect your opinions on the NSE & investing but for downstream O&G leave this matter... ... I can comfortably extrapolate based on this govt. tendencies, other policies and of course the Nigerias populace's aversion to market based economics.

I worked in that space for a bit and I know how tough it is. High turnover, low margins then complicate with over regulation.

I am also VERY sure that you don't have your money in that sector ... you are much too savvy for that.

If the sector is fully liberalized, I will remove all my money from stocks and go and start my own company

Life is too short to stress...

Manonamission:
This information might not be correct. Second quarter allocation for the NNPC is just 41.74%. Other oil marketing companies including Oando have the rest. Oando is the only listed company of this "others" (I stand to be corrected). So it is not a given that 2016 results will be poor based on your assumption except for other unknown factors.

So... I generally ignore the PPPRA allocation quotas and focus on the reality on ground... If you look at the FX utilization reports for most banks (and I have been monitoring those for a bit) you don't see the Oil guys (MRS, ETERNA, TOTAL, MON, FO) featuring for gasoline imports... Kachikwu also said last week that the NNPC was currently the sole importer and that he had approval from the president to increase the crude oil volumes allocated to the SWAP contracts to ensure the country is wet.

Me sha I have talk my own... 2015 was a better year for the downstream oil & gas companies and 2015 was bad

mercylicious:
Good morning bnsitl,
Fo is abt to raise plenty money. Source channels news this morning.

What's ur take on this? Positive or negative news?

I ased cos its a 2way thing. There is probability that the will move the price up b4 they come for the offer.

There is another negative probability DT ppl will dump theshares for fear of dilution.
What's ur take?

Negative Mercy...

I would stay off Oil & Gas downstream stocks at the moment. I have voiced this sentiment earlier.

As at today, NNPC is the sole importer of petroleum products (because of our senseless exchange rate policy & Kachikwu's price modulation) so expect the earnings of downstream companies to be VERY poor in 2016... If you look closely at their 2015 numbers you would see that was the same e.g. remove other income and finance income from Total earnings last year and their performance was terrible...

I believe Forte Oil might be trying to increase their downstream distribution infrastructure but I read some release where they are talking about investing in Upstream assets (I come dey wonder weda their sense complete).

Basically, if they are not raising funds to build a refinery, my hand no dey...

My 2 cents...

mercylicious:
We just de do kalo kalo for NSE.
Most of the results we see are not true. The board and d mgt decides how much they want to declare. Some can make hug money and declare less, some can make small and declare big, then reduce the payout. Don't forget the financial engineering by coys.

Nah... If you do it right, there is no kalo kalo (Ex Big 4 Auditor here - so I'm not unfamiliar with some coys results)

The most important thing to bear in mind is to have a HUGE margin of safety (MOS)... such that even if the worst happens (Bankruptcy), you should get something at a shareholder.

One of my Margin of Safety Criteria is that except a company has good management (e.g. GT Bank) I do not buy & hold their stock if it trades at more than 2x book value (Only AFRIPRUD is this criteria for now because of their business model and balance sheet).

This makes sense to me when Coys like Diamon Bank (1 million mobile app users) are trading at 0.1x and FCMB at 0.09x book value.

You will only run into problems when you buy inflated valuations. (PS: I am an income investor - every other methodology na counterfeit)

peperempe:
I hv a strong feeling that FCMB will be more than #1.20 per share before the end of April 2016.

I bought in A LOT at N0.77K cum div ... so my holding period is FOREVER!!!

OBAGADAFFI:
Will only enter TRANSCORP beloow 1N

Even N0.50k I won't re-enter

megainvest:
Fidelity still up for grabs. I don't think it will be available for very long. Do your DD.

I already exited FIDE at N1.39k... entered at N1.15k ... suspected their div may not be too robust

Mfunkynation:
pls how do c trancorpps kasala... no dividends?

You want them to pay dividend from reserves with circa N77billion in debt? Haba nau

ORAGBON:
That is true talk. Been averaging since in entered@N11.07, and its going south.I don't know what to think of them.

I learnt this the hard way as well...

Going forward I always use the concept of a trailing stop-loss.

If a stock you are holding for JIJO loses value by 5% ... SELL, you can buy back at lower levels.

If you are holding a stock and it is appreciating in value, at the end of EVERYDAY revise your stop-loss position upwards that way you can make sure to lock in some gains.

The only exception to this rule is when you are sure a stock (from every fundamental and industry analysis) is significantly undervalued.

As for FBNH, if you are not in it for the long term... Just take your L and move on with life

EDUECO:
Transcorp Hotels used to be the engine(cash cow) of Transcorp,and the hotel is no longer part of Transcorp!

Nna ... una type of DD for this forum dey fear me O!

Read the financial statements sir... Transcorp owns 83% of Transcorp Hotels, in effect the hotels is a subsidiary and it is consolidated as part of Transcorp's numbers

There's a note on segment information that breaks out where they are losing money (Agric etc) and where they are making it (hotels etc)

I warned on this forum sha as I was exiting transcorp early last week at N1.18

See am now Loss per share of N0.51k

PS: I still think it is potentially a good long term hold... this is not a recommendation

Manonamission:
Notin o ji e. Same thing wrong with UBA, Afriprud, GT and what will befall UCAP after markdown. Investors often sell off after qualifying for dividends.

Market trend can reverse anytime though.

Not really... I personally have doubts about the quality of their loan books and the level of provisioning in 2015 accounts