PETERiCHY's Posts
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 Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:09pm On Mar 18, 2016 |
Krisuba:That's the Spirit , the Spirit of Buhari which will only favour the patient ones. Well some of us are patiently waiting for All Share index @15000 and USD @N1000. *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:44am On Mar 17, 2016 |
http://www.vanguardngr.com/2016/03/nairas-flop-is-doomsday-foretold/ It is too soon to forget how Sanusi, as the immediate-past Governor of the Central Bank of Nigeria, CBN, turned that body into a Republic within a Republic. Indeed, the collapse of the Naira today is doomsday foretold. We saw it coming. You can’t run the CBN with the type of impunity with which Idi-Amin ran the economy of Uganda and not expect the type of disaster we have in our hands today. Students of history will also easily remember that the Deutschemark suffered the same fate in post World-War II Germany. Again, Sanusi represents an archetype of the average Nigerian in authority. Space will only permit us to provide a synopsis of some of his deeds: In about 63 “intervention projects” mainly in Northern Nigeria and sparsely in the South, Sanusi turned CBN into a Father Christmas by doling out about N163 billion from the public till without any legislative approval and authorisation in utter defiance of the provisions of Sections 80(1) and 80(2) of our 1999 Constitution, which deal with issues of revenue and expenditure of the Federation. n August 2009, the CBN, under Sanusi’s watch pumped N400 billion of public fund into bailing out Afribank, Intercontinental Bank, Union Bank, Oceanic Bank and Finbank. The CBN single-handedly decided which of the commercial banks manifested distress signs and how much to give to them, without recourse to any legislative approval. In the eye of the Financial Reporting Council, FRC, the CBN under Sanusi’s watch embarked on a most reckless spending spree, the type of squander-mania never imagined in the history of the CBN, including N38.23 billion alleged missing in 2013. This amount was alleged to have been paid to the CBN subsidiary, MINT, but it never got to its destination. In 2011, CBN was said to have paid N38 billion to the Nigerian Security Printing and Minting Company, NSPMC, for the printing of banknotes, when in the entire year, the total turnover of NSPMC was only N29 billion! With Sanusi out of the system, the same people who facilitated his deeds are still in the system, doing for other corrupt elements what they did for Sanusi. And so, the chain continues. In Sanusi’s years, where there was no immediate cash to carry out his escapade, he proceeded to print the banknotes. Who, then, is still wondering why the Naira today is barely worth the paper on which it is printed? For all we know, a nation’s economy is like a fowl – it comes home to roost! Yesterday, it was Sanusi; today, it is Dasuki; but between Sanusi and Dasuki, there are at least a thousand Nigerians who should not be walking our streets in freedom – if we are really serious about fighting corruption. 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:09am On Mar 17, 2016 |
Intendy:So simply bcuz i gave few examples of countries that have either devalue or float their currency in recent time you now taught they are they are the only ones. Well untill you start thinking outside the box you will remain where you are. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:57am On Mar 17, 2016 |
PETERiCHY:http://www.punchng.com/nassembly-committee-detects-fresh-errors-in-2016-budget/ 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 9:23pm On Mar 16, 2016 |
Intendy:http://www.thisdaylive.com/index.php/2016/03/16/foreign-investors-dump-nse-for-nairobi-johannesburg-exchanges/ |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:50pm On Mar 16, 2016 |
jarkbauer:So is it now better Nigerians go through the VENEZUELA experience? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:36pm On Mar 16, 2016 |
jarkbauer:It's a no rocket science that when is crystal clear that a country can no longer defend it currency, they simply devalue or free float their currency instead of suffocating their economy. RUSSIA, KAZAKHSTAN, AZERBAIJAN and even EGYPT did theirs recently but any country that want to live in self denial should go and learn from the VENEZUELA experience. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:01pm On Mar 16, 2016 |
zendi:Bear in mind that same tiger brand aka Dangote Floormill once sold for N58 in 2007. OANDO sold above N300 Same 2007 While SEPLAT traded N720 about 20months ago. So try as much as possible to balance the equation and dont be deceieved by those shouting gain gain gain everyday albeit one just died. 4 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:54pm On Mar 16, 2016 |
Alot want to make money but are blinded by sentiments which kept them from seeing the bigger picture. Put yourself in the place of a foreign investor that has a fund of $1m. FG with all their sincerity is telling you the worth of your fund is N199m while on the other hand the guy on the street is telling you the worth of that same fund is worth N320m. In your mind you will definitely know that one of the party is lying. In addition when you are ready to exit the same FG that said their rate is N199 per USD will now turn around to tell you its not available. Now tell me who is deceiving who  The above scenerio is one of the major economy malady Nigeria is currently facing. So let's stop being myopic and know who the liar is here. *ThE OcToPuS* 3 Likes 1 Share |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:21pm On Mar 16, 2016 |
leo1234:Even if you have an idle fund i will advice you to invest in land, property and the GREENBACK as for NSE it's going to the dustbin this yr. Thank me later. *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 12:49pm On Mar 16, 2016 |
PETERiCHY:[Nigeria’s Central Bank Illegally Hired, Sons, Daughters And Relatives Of Former VP Atiku, IGP Arase, GMD Of NNPC, Minister Of Internal Affairs, Other Top Officials | Sahara Reporters] is good,have a look at it! http://saharareporters.com/2016/03/15/nigeria%E2%80%99s-central-bank-illegally-hired-sons-daughters-and-relatives-former-vp-atiku-igp#.VugrKls9Wog.twitter 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 11:54am On Mar 16, 2016 |
veecovee:http://www.aljazeera.com/news/2016/03/nigeria-22-killed-mosque-bombings-160316090928691.html So such a country is where you will advice foreign investors to put their fund For your info I 've been in Nigeria for some wks now with some foreign investors looking for a reliable franchise for their products but at the end of our research we discovered the economy is in total mess and we don't ve a choice but to jet back in a couple of days from now. This is what happens in a country where the president presents a Nepa bill in place of a certificate. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:27pm On Mar 15, 2016 |
bigjay01:Yes in such clime things are done in ordeliness and transparency while in Nigeria everything is crooked and cooked starting from CBN down to the public quoted companies . Imagine this mid-march and the presidency is still playing hide and seek with their budget of CORRUPTION and want foreign investors to be comfortable  |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:54pm On Mar 15, 2016 |
http://www.vanguardngr.com/2016/03/its-cheaper-to-import-petrol-than-refine-locally-kachikwu/ An epitome of a visionless and confused government which in turn will always repel foreign investors. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:49pm On Mar 15, 2016 |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:41pm On Mar 15, 2016 |
PETERiCHY:Forget whatever games Wale and his crook members are playing. If your dare buy OANDO above N1:70k you are on your own. Share reconstruction loading.... *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:06pm On Mar 11, 2016 |
http://nairametrics.com/nigerian-banks-may-be-hiding-npls-as-3-exceed-10-percent-threshold-doyin-salami/ Be careful when you are analysing bank stocks and deciding whether to buy, sell or hold as its not everyday your regulator comes out to tell you plainly that banks are basically cooking the books and lying about their Non performing loans (NPL) exposure. Doyin Salami, an economist and member of the Central Bank of Nigeria (CBN) the apex regulator for banks, monetary Policy committee (MPC), just dropped this bombshell in his statements following the last MPC meeting. According to Salami: Between 2014 and 2015: ·The number of banks with NPL ratio in excess of the 5 percent threshold rose from 3 to 8. ·Furthermore, NPL in 3 of these banks exceeded 10 percent. ·NPLs rose in 18 of the 22 buckets into which the CBN classifies Deposit Money Bank (DMB) lending. Salami says worsening NPLs reflect a combination of external and internal factors which include: Low and volatile Oil prices; uncertainty about severe fiscal imbalance at the sub-national level of government; weak output growth; and eroding investor confidence. He concludes with this bombshell: Reflecting on the nature of these threats, notwithstanding reassurance provided by Bank Staff based on the outcome of various stress and contagion tests, I cannot help but remain concerned about the possibility of under-reporting of NPLs. The weakened ability of the CBN, represented by the structure of its balance Sheet, to deal with a recurrence of crisis in the banking sector requires heightened vigilance by Bank Staff. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 5:54pm On Mar 08, 2016 |
http://www.marketwatch.com/story/the-last-time-oil-futures-rallied-like-this-it-didnt-end-well-for-the-bulls-2016-03-07 A sharp rebound by oil futures is lending hope to bulls who have been waiting for the commodity to bottom out after months of losses. But for strategists at Morgan Stanley, the rebound oil has enjoyed since early February bears an uncanny resemblance to a rally seen in the second quarter of 2015 that ultimately faltered. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:52pm On Mar 08, 2016 |
[http://www.punchng.com/nigerian-economy-in-recession-says-agbakoba/] A former President of the Nigerian Bar Association, Dr. Olisa Agbakoba (SAN), says the countrys economy has slid into recession due to what he termed as the strict monetary policy of the President Muhammadu Buharis government. Agbakoba lamented that although the government was recovering looted funds through its anti-graft war, the funds were not being pumped into developmental projects. He said the funds were being hoarded. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:50pm On Mar 08, 2016 |
[http://www.zerohedge.com/news/2016-03-08/oil-fundamentals-could-cause-oil-prices-fall-fast] Oil prices should fall, possibly hard, in coming weeks. That is because fundamentals do not support the present price. Prices should fall to around $30 once the empty nature of an OPEC-plus-Russia production freeze is understood. A return to the grim reality of over-supply and the weakness of the world economy could push prices well into the $20s. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 4:48pm On Mar 08, 2016 |
[http://www.zerohedge.com/news/2016-03-08/ill-go-full-power-if-theres-no-agreement-kuwait-breaks-opec-production-freeze] According to Reuters, Kuwait's oil minister said on Tuesday that his country's participation in an output freeze would require all major oil producers, including Iran, to be on board. "I'll go full power if there's no agreement. Every barrel I produce I'll sell," Anas al-Saleh told reporters in Kuwait City. And since Iran has made it very, very clear it will not join the production freeze at its current mothballed output, and will need at least 9-12 months before it regains its pre-embargo capacity levels, one can forget about a production freeze well into 2017 if not for ever since by then at least one if not more OPEC members will be bankrupt. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 8:02pm On Mar 07, 2016 |
megainvest:The bitter truth is that aside from low demand. Nigeria cannot make any meaningful profit from Crude at below $80. Saudi and Iran average cost of production is around $2 per barrel while that of Nigeria is around $30 per barrel. So let's stop living in fools paradise and look inward. *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 3:12pm On Mar 07, 2016 |
smicc:INGRATITUDE is when you sold OANDO @N5+ based my prediction and you areant thankful. Now tell me what would've been your fate if you are still holding when it actually sold for N2+ as predicted or at the current price. Well i ve said it severrally my instincts dont lie and my predictions are meant only for discerning investors. *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 11:17am On Mar 07, 2016 |
Chibuking81:"STOCKMARGEDDON" loading............. 2016 will be the worst year in NSE history, Some will cry water while others will cry blood, Better hedged your hard earned funds in USD and stay out of destruction. *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:16am On Mar 04, 2016 |
http://www.zerohedge.com/news/2016-03-03/opec-ministers-now-resorting-outright-lies-desperate-attempts-push-price-oil-higher The key (recurring) catalyst for today's early spike in oil, was the latest desperate attempt by an imploding OPEC member, this time Nigeria to push oil higher when overnight its petroleum minister Emmanuel Kachikwu said that key members of OPEC intend to meet with other producers in Russia on March 20 to renew talks on an agreement to cap oil output, Nigerias petroleum minister said. The headlines in question: NIGERIA OILMIN SAYS OPEC/NON OPEC TO MEET ON MARCH 20 IN RUSSIA NIGERIA OIL MIN SEES DRAMATIC PRICE MOVE AFTER OPEC/NON-OPEC NIGERIA OILMIN SAYS OPEC/NON OPEC TO MEET ON MARCH 20 IN RUSSIA As Kachikwu hopefully added, "there will be a dramatic price movement when the meeting takes place. As a reminder, oil-exporter Nigeria recently saw its dollar reserves dry up, forcing it to beg for a massive loan from the World Bank as the current price of oil dooms this particular nation to a very painful economic collapse. Sure enough, the algos bought this hook, lie and sinker and proceed to force another attempt at squeezing near record shorts. The only problem is that moments ago, we got confirmation that not only are such desperate attempts to prompt "dramatic price movements", higher of course, laughable, they just suffered a spectacular loss of credibility when moments ago Reuters reported that no decision on the date or venue of a possible meeting between OPEC and non-OPEC producers has been made yet, a Gulf OPEC delegate said on Thursday. "There has been no decision made regarding the meeting yet. No date or location decided yet. The Gulf countries prefer that it would be held in the first half of April, and preferably in Doha, or some other Gulf city," the delegate told Reuters. "We are looking forward to having a good meeting and positive results." Perhaps, but in the meantime you just outed one of the nations most impacted by the ongoing oil rout as nothing but a cheap liar, although in retrospect few would be surprised that the nation which unleashed on the world the infamous email scam is capable of stooping so low.  |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:08pm On Mar 01, 2016 |
PETERiCHY:http://abokifx.com/naira-falls-across-fx-market-as-reserve-declines-to-27-8bn-businessday/ The naira yesterday, depreciated in value against the dollar across foreign exchange (FX) markets due to shortage of the greenback. Specifically, the naira weakened by N20 or 6.45 percent to close at N360/$, compared with N310/$ on Friday last week at the parallel market. Nigerias dollar reserves fell to $27.8 billion by February 25, a 1.6 percent decline from a month earlier, central bank data showed on Monday, Reuters report. That marked an 11.91 percent decline from the $31.57 billion recorded a year earlier, the data showed.  |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 12:34pm On Mar 01, 2016 |
I really pity those that still have their short term fund in NSE. I ve been sounding this note of warning since mid-last year when dollar was still below N220. Henceforth we should expect what is called "STOCKMARGEDDON" which will ultimately push the dollar above N500. He that has ears let him ear *ThE OcToPuS* |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 2:23pm On Feb 29, 2016 |
Finally got my 2013/2014 OANDO dividend, So they can now go bankrupt for all I care  1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 9:50am On Feb 28, 2016 |
http://www.bloomberg.com/news/articles/2016-02-23/saudi-arabia-to-u-s-oilmen-cut-costs-or-get-out-of-business The worlds most powerful oilman brought a harsh message to Houston for executives hoping for a rescue from low prices: high-cost producers -- many of them sitting in the room -- need to either lower costs, borrow cash or liquidate." "It sounds harsh, and unfortunately it is, but it is the most efficient way to rebalance markets," The freeze agreement isnt "cutting production. That is not going to happen," Naimi said. Its going to be really, really ugly to get through this valley, 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 1:43pm On Feb 26, 2016 |
(Assignment for the weekend) * OANDO market cap has drop to $100million while their debt profile has risen over $1billion couple with their bad cooperate management in an era crude oil is becoming worthless, 1)Do you think will they SURVIVE? 2)If yes at whose EXPENSE? 3)Will there be SHARE RECONSTRUCTION? 4) If yes at what RATIO? 5) Finally do you think WALE and the GANGS care about their SHAREHOLDERS? 2 Likes
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| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 11:13am On Feb 26, 2016 |
OANDO now N3:15k thats 85kobo less from the batch i sold last. My new benchmark is #1:70k buy above that price at your own peril. ASI 15000 MKT 5Trillion #PatienceIsAvirtue# *ThE OcToPuS * 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:06am On Feb 26, 2016 |
http://www.cnbc.com/2016/02/25/recession-sign-is-in-play-and-has-81-accuracy.html Since corporate profits turned negative in mid-2015, Wall Street has pondered whether it's just a passing phase or a signal of something worse. History strongly suggests the latter. Recessions have followed consecutive quarters of earnings declines 81 percent of the time, according to an analysis from JPMorgan Chase strategists, who said they combed through 115 years of records for their findings. The news gets worse: Of the remaining 19 percent of the time, recession was only avoided through either monetary or fiscal stimulus. With the Federal Reserve holding limited easing options and a deeply dysfunctional Washington thwarting a fiscal boost, the prospects for help are not good. The warning comes amid a stock market hovering around correction territory and a mixed economic picture. Citigroup this week warned of escalating risks for a global recession, though data Thursday on durable goods orders suggested the manufacturing sector may be shaking off a contraction phase. Fed officials in recent days have been talking down recession risks. |
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