₦airaland Forum

5 Overall Worst Performing Stocks, so far this year 2025, in their ranking, are:

1. SUNU ASSURANCE (lost 55.71%)
2. CONOIL (lost 51.65%)
3. OANDO (lost 42.40%)
4. AFRIPRUD (lost 40.27%)
5. JOHNHOLT (lost 37.10%)

Which of them do you presently have, in your Stock Portfolio?

Still on Madam Flo.
Patience in Investing: A True Superpower
In the context of investing (as I've discussed with true stories like Madam Flo's), patience takes on profound importance. It's the discipline to hold quality investments through market noise, short-term dips, and emotional temptations to buy high or sell low.
Legendary investors emphasize this:
Charlie Munger: "The big money is not in the buying and selling... but in the waiting." He also said, "Success means being very patient, but aggressive when it's time."
Warren Buffett: "The stock market is designed to transfer money from the Active to the Patient." His favorite holding period? "Forever."
As Munger noted, extreme patience combined with decisiveness creates extraordinary results.
Patience allows compounding to work its magic—turning steady growth into exponential wealth over years or decades. Impatience, driven by anger, fear or greed, often leads to costly mistakes, like selling winner too early.
In summary, patience isn't just a virtue—it's a powerful tool for a calmer life and greater success, especially in investing. As the saying goes, good things come to those who wait wisely.


https://www.youtube.com/watch?v=_SpnjwFqV0M?si=VddYtie8DIZESCVj

Mankind2024:
A Valuable Lesson from Madam Flo
Madam Flo is a popular online financial influencer known for sharing insights on personal finance and investing.

Recently, she posted a video on her channel discussing how she decided to sell what she considered her "junk shares." In the video, Madam Flo revealed that she had purchased 26,359 shares of First HoldCo in 2007. Over the years, the stock had dragged down her portfolio's performance due to its modest "kobo-kobo" dividend payouts.

She went on to explain that First HoldCo reported an earnings per share (EPS) of ₦18.69k in 2024 and paid a dividend of ₦0.60, subject to a 10% withholding tax. Frustrated with the slow growth, she exited her position entirely in June 2025.

What caught my attention was a comment from another user: "She sold a winner to buy a loser—the era of kobo dividends in First HoldCo is over."

As Charlie Munger wisely said, the stock market does not destroy investors; rather, it is the behavior of investors that primarily destroys wealth.

Fast forward to today: Madam Flo sold her shares in First HoldCo, effectively handing over her position to a more patient investor. If that buyer were to sell now (in December 2025), they would have already realized over 50% profit, given the stock's strong appreciation since June.
Patience and discipline with quality compounders and avoiding impulsive reactions to short-term frustrations is a behavioural strategy in the market.

Madam Flo, who clearly loves building wealth, is likely regretting her decision to sell what turned out to be a compounding gem.

**The key lesson here:** Avoid following the crowd or reacting impulsively to short-term frustrations. Stocks like First HoldCo and Access Holdings (ACCESSCORP) are classic compounders—they ignore market noise, trader sentiment, and fleeting opinions. Every 6 to 18 months, they quietly do what they do best: compound value steadily over time.

Patience, not timing, often separates successful long-term investors from the rest.

You can watch Madam Flo's original video below for more context.


https://www.youtube.com/watch?v=_SpnjwFqV0M?si=VddYtie8DIZESCVj

What she lost was small compared to what some of us had lost in the market. There was a time Firstholdco was the largest share i held in my portforlio (days where they were churning out dividends). Their dividend pay was also one of the best in the sector. But, then came Zenith and GTCO strong showing in stock price and good dividend. Before you know it they had upstaged Firstholdco ( even till today). I thought i could be patient with Firstholdco, being my very first banking stocks and thinking of all the dividends and bonuses i had received, but i later realized it was not making any sense, the price of Firstholdo had fallen far below it peers. I had no other option to exit all my holdings ( afterall i am not the owner of the bank). I used all the proceeds to buy Zenith bank. I feel it was a wise decision and i still feel better for it. Yes, somehow the price of Firstholdco is coming up but, it can't make up for all the price depriciation and it can definitely not meet up with the present day Zenith bank. Reshuffling portfolio is part of the game. When your expectations are not met you move on.


Lesson learnt: You are in stock market to make money. When your expectation are not met you can cut your losses and enter another stock. You are not the owner of a company so you are not expected to die with the company. Don't be carried away by name and sentiment. Your major objective here is to make money.

I understand that the NGX closes 12:30pm today and not 2:30pm. Let's make hay while the sun shines. There is still 5 more trading days before the end of the year. I wish you my NSEMPA brothers and sisters a Merry Christmas and Happy New Year in advance.

Mankind2024:
A Valuable Lesson from Madam Flo
Madam Flo is a popular online financial influencer known for sharing insights on personal finance and investing.

Recently, she posted a video on her channel discussing how she decided to sell what she considered her "junk shares." In the video, Madam Flo revealed that she had purchased 26,359 shares of First HoldCo in 2007. Over the years, the stock had dragged down her portfolio's performance due to its modest "kobo-kobo" dividend payouts.

She went on to explain that First HoldCo reported an earnings per share (EPS) of ₦18.69k in 2024 and paid a dividend of ₦0.60, subject to a 10% withholding tax. Frustrated with the slow growth, she exited her position entirely in June 2025.

What caught my attention was a comment from another user: "She sold a winner to buy a loser—the era of kobo dividends in First HoldCo is over."

As Charlie Munger wisely said, the stock market does not destroy investors; rather, it is the behavior of investors that primarily destroys wealth.

Fast forward to today: Madam Flo sold her shares in First HoldCo, effectively handing over her position to a more patient investor. If that buyer were to sell now (in December 2025), they would have already realized over 50% profit, given the stock's strong appreciation since June.
Patience and discipline with quality compounders and avoiding impulsive reactions to short-term frustrations is a behavioural strategy in the market.

Madam Flo, who clearly loves building wealth, is likely regretting her decision to sell what turned out to be a compounding gem.

**The key lesson here:** Avoid following the crowd or reacting impulsively to short-term frustrations. Stocks like First HoldCo and Access Holdings (ACCESSCORP) are classic compounders—they ignore market noise, trader sentiment, and fleeting opinions. Every 6 to 18 months, they quietly do what they do best: compound value steadily over time.

Patience, not timing, often separates successful long-term investors from the rest.

You can watch Madam Flo's original video below for more context.


https://www.youtube.com/watch?v=_SpnjwFqV0M?si=VddYtie8DIZESCVj

Madam Flo did not tell us what she bought when she sold First Bank about 6 months ago. Did she tell you that she regretted her action.

Good investors should have no reason for regrets

I also sold my First Bank shares about 9 months ago and used the proceeds to buy Zenith Bank shares

Lol.
Gm Pa Emma.
Madam Flo invested the proceed in FGN savings bond of July 2025 @ 16%.
Wrong timing of the market.

emmanuelewumi:
Madam Flo did not tell us what she bought when she sold First Bank about 6 months ago

https://www.youtube.com/watch?v=cx-CjVtqWfs

A few stocks I'd be watching closely in today's trading session on the NGX.

Pidgin English version below.

https://open.spotify.com/episode/3GGmroWC4NvYyauHXjteJT

jonnysessy:
What she lost was small compared to what some of us had lost in the market. There was a time Firstholdco was the largest share i held in my portforlio (days where they were churning out dividends). Their dividend pay was also one of the best in the sector. But, then came Zenith and GTCO strong showing in stock price and good dividend. Before you know it they had upstaged Firstholdco ( even till today). I thought i could be patient with Firstholdco, being my very first banking stocks and thinking of all the dividends and bonuses i had received, but i later realized it was not making any sense, the price of Firstholdo had fallen far below it peers. I had no other option to exit all my holdings ( afterall i am not the owner of the bank). I used all the proceeds to buy Zenith bank. I feel it was a wise decision and i still feel better for it. Yes, somehow the price of Firstholdco is coming up but, it can't make up for all the price depriciation and it can definitely not meet up with the present day Zenith bank. Reshuffling portfolio is part of the game. When your expectations are not met you move on.


Lesson learnt: You are in stock market to make money. When your expectation are not met you can cut your losses and enter another stock. You are not the owner of a company so you are not expected to die with the company. Don't be carried away by name and sentiment. Your major objective here is to make money.

First Bank was my biggest holding about 20 years ago. First Bank is like a family bank to me.

My late grandma had a First Bank account, my father has a First Bank account, my late mom had a first Bank account, I have a first Bank account, my wife has a first Bank account, we have a First Bank joint account, I have a First Bank business account.

Unfortunately I have never been able to get a loan from first Bank even though I have acceptable collateral, yet they gave loans to people who refused to pay back their loans and even sued the bank.

Mankind2024:
Lol.
Gm Pa Emma.
Madam Flo invested the proceed in FGN savings bond of July 2025 @ 16%.
Wrong timing of the market.

Not bad, she might be concerned about the predictable income from the bond if compounded at 16% she will double her investment in 4.5 years and will also get her capital back in 6.5 years

Mankind2024:
Additional Lessons from Madam Flo's Experience
Having watched Madam Flo's video ("I LOST N450,000 SELLING OFF MY JUNK SHARES), her story provides a candid, real-world example of common investing pitfalls. While the core lesson from the original article "patience with quality compounders and avoiding impulsive reactions to short-term frustrations" remains spot on, her behavior highlights several deeper insights for investors:

1.Timing the market is incredibly difficult, even when selling "junk."
Madam Flo sold her 26,359 shares in First HoldCo (FBN Holdings) in late June 2025 at prices around ₦26–27 per share, frustrated by persistently low dividends (just ₦0.60 despite strong ₦18.69 EPS). She reinvested the proceeds (~₦684,000 net) into high-yielding FGN Savings Bonds, earning a respectable ~16–18% annual return.
However, by December 23rd 2025, First HoldCo's share price has rallied significantly to around ₦50.30. A buyer at her selling price would now enjoy over 50% capital appreciation (plus any future dividends)—far outpacing the bond yields. Her regret over missing an earlier peak (₦40 in March 2024) compounds this: waiting too long to sell, then selling just before a major run-up. This underscores that even "defensive" moves like switching to fixed income can backfire if the discarded stock surges.

2. Focus on total return, not just dividends.
Madam Flo's primary grievance was the "kobo-kobo" dividends, viewing them as inadequate given the company's profits and inflation. While valid (low payout ratios can signal management prioritizing growth over shareholder yields), she overlooked the stock's capital appreciation potential. Quality banks like First HoldCo often reinvest earnings to compound book value, delivering returns through price growth rather than high dividends. Chasing yield alone can lead to selling strong compounders at the wrong time.

3. Emotional anchors and "laziness" erode wealth quietly.
She openly admits to holding too long due to distraction and inertia—classic behavioral biases. This delayed her exit from a perceived underperformer, but ironically, acting on frustration led to the opposite problem: exiting prematurely. Investments aren't truly passive; periodic review is essential, but decisions should be disciplined, not emotional.

4. Opportunity cost works both ways.
Her bond switch provided stable, higher immediate income (first quarterly coupon already beat the annual First HoldCo dividend). That's a win for income-focused investors. But for growth-oriented ones, it meant missing substantial upside. Always weigh what you're giving up—bonds offer safety and yield, but stocks like established banks can deliver superior long-term total returns in a growing economy.

In summary, Madam Flo's transparency is commendable and educational. Her experience reinforces Charlie Munger's wisdom: investor behavior, not the market, is often the biggest wealth destroyer. The biggest additional lesson? Develop a clear, written investment thesis for each holding—including exit criteria—and stick to it. Avoid letting short-term annoyances (like low dividends) override long-term conviction in quality businesses. Patience rewards those who buy great companies and hold through noise, but only if paired with discipline.


https://www.youtube.com/watch?v=_SpnjwFqV0M?si=VddYtie8DIZESCVj

Other better opportunities will come. No need for regrets

A woman stole 12 meat pies from a shop. She was arrested and arraigned. The judge decided to sentence her to 12 days in prison. "I will jail you a day for each item you stole which comes to 12 days for 12 meat pies" the judge said.. as the judge was about to formally pronounce the sentence, the husband of the woman raised his hand to be allowed to speak. "Go on" said the judge.. the husband then said.. "your lordship, as a God fearing, law abiding citizen, I must let you know that my dearly beloved wife stole a bag of rice a week before... A bag of rice with millions of grains, my lord"..

Watch the video. You'll notice that Madam Flo sold her FIRSTHOLDCO due to emotional volatility. She quit just as compounding was about to kick in, ultimately becoming a cautionary tale of letting emotions dictate decisions(Stupid Grit). If she'd overcome her fears, she might've emerged as a true example of resilience(Authentic Grit). I'll revisit this story in 18 months with a piece on "Lessons from Pa Emma's Disinvestment from ACCESS CORP" - a case study in patience and perseverance."

emmanuelewumi:
Not bad, she might be concerned about the predictable income from the bond if compounded at 16% she will double her investment in 4.5 years and will also get her capital back in 6.5 years

This is seriously getting to me! A multi-gen family bank that's tighter than a drum with their purse strings - won't even give family members a loan 😂.

emmanuelewumi:
First Bank was my biggest holding about 20 years ago. First Bank is like a family bank to me.

My late grandma had a First Bank account, my father has a First Bank account, my late mom had a first Bank account, I have a first Bank account, my wife has a first Bank account, we have a First Bank joint account, I have a First Bank business account.

Unfortunately I have never been able to get a loan from first Bank even though I have acceptable collateral, yet they gave loans to people who refused to pay back their loans and even sued the bank.

emmanuelewumi:
Not bad, she might be concerned about the predictable income from the bond if compounded at 16% she will double her investment in 4.5 years and will also get her capital back in 6.5 years

I want to understand how this compounding works. Will she get the same rate if she reinvests the coupons immediately they are paid or is there a way to subscribe to reinvestment of coupons at the point of subscription, which will then be on the same rate?

I am asking because, if, like me, or like the way I see it, she receives the coupons and then reinvests them, the rates aren't always the same. They fluctuate with interest rates and prevailing tinkering by regulators.

If she doesn't get the same rate, then the compounding at 16% rate is only theoretical.

FSDH and Stanbic compound the mutual funds I have with them. I sometimes look at the rates and they tally with prevailing rates across the money market.

KarlTom:
You have a point here!

However, we should not overlook the y-o-y increase in revenue and gross profit (>25%). I personally believe this is the core factor
I look forward to Q3

Every mallam to his kettle...

The point is those increases you mention aren't just coming things quarter they've been visible since Q1, even slightly better in Q1.

jonnysessy:
I understand that the NGX closes 12:30pm today and not 2:30pm. Let's make hay while the sun shines. There is still 5 more trading days before the end of the year. I wish you my NSEMPA brothers and sisters a Merry Christmas and Happy New Year in advance.

4 more days. Today is the last for this week. Then 3 more next week.

No it doesn't rise forever. But you said that I am assuming it will still rise in 2026. And I am saying that such assumptions are the reason why many are here. Without it there will be no market.

Agbalowomeri:
The market doesn't rise forever

NSEstudent:
I want to understand how this compounding works. Will she get the same rate if she reinvests the coupons immediately they are paid or is there a way to subscribe to reinvestment of coupons at the point of subscription, which will then be on the same rate?

I am asking because, if, like me, or like the way I see it, she receives the coupons and then reinvests them, the rates aren't always the same. They fluctuate with interest rates and prevailing tinkering by regulators.

If she doesn't get the same rate, then the compounding at 16% rate is only theoretical.

FSDH and Stanbic compound the mutual funds I have with them. I sometimes look at the rates and they tally with prevailing rates across the money market.

If she can get the same 16% by reinvesting she will double her fund in 4.5 years time, if rates increase and she is reinvesting she will double her fund in less than 4.5 years.

If she is not reinvesting she will get her initial capital back in 6.5 years

@Mankind2024.

You should add the core factor to this first bank story you've been writing.

Many posts on it, yet not once have you mentioned Otedola's acquisition drive.

You make it seem like the only reason the stock has been climbing is cos it's solid.

That's not a complete story, in fact it's almost misleading.


If you think Access will have the same jump in the next 18 months solely based on results, you might be very wrong.


Some people take what you write very seriously, you shouldn't leave out core contexts like that.

Good job and good luck!!

orriyomi33:
I'm less than 2% from a 100% performance on mine.

Got in @25.4 from @megawealth01 call sometimes in June. I don't think I'll be selling anytime from now, I'm going long term like @Mankind2024.

I'll like to appreciate everyone that keeps the thread going and keep sharing their invaluable experience in the market.

PS..... it's been a while I see @Megawealth01 on the thread, trust you are doing fine sir.

awesomeJ:
@Mankind2024.

You should add the core factor to this first bank story you've been writing.

Many posts on it, yet not once have you mentioned Otedola's acquisition drive.

You make it seem like the only reason the stock has been climbing is cos it's solid.

That's not a complete story, in fact it's almost misleading.


If you think Access will have the same jump in the next 18 months solely based on results, you might be very wrong.


Some people take what you write very seriously, you shouldn't leave out core contexts like that.

FIRSTBANKHOLDCO has not only been lagging behind in dividend payments but also on other key investment metrics.
I want to believe it is in other if one sells off his/her holding in a company that has been lagging behind in key investment metrics.
The major thing pushing the price up is the Ote$ factor, the bank is still behind in financial solidity.

Emotional volatility? Because she's female? Chai, women haf suffered. Her objective analysis of subpar returns over 10+ years wasn't enough for you?

Mankind2024:
Watch the video. You'll notice that Madam Flo sold her FIRSTHOLDCO due to emotional volatility. She quit just as compounding was about to kick in, ultimately becoming a cautionary tale of letting emotions dictate decisions(Stupid Grit). If she'd overcome her fears, she might've emerged as a true example of resilience(Authentic Grit). I'll revisit this story in 18 months with a piece on "Lessons from Pa Emma's Disinvestment from ACCESS CORP" - a case study in patience and perseverance."

jonnysessy:
You decided today to write something a bit meaningful today or is it someone using your handle

Ding !!!

TARGET TECHNICAL ANALYSIS-
Looking forward to finishing well for the year

awesomeJ:
4 more days. Today is the last for this week. Then 3 more next week.

4 more next week rather; Mon, Tue, Wed & Fri.

egojeny1:
4 more next week rather; Mon, Tue, Wed & Fri.

Friday ia already another year ma.

We were counting the number of trading days left in the year.

Mankind2024:
Watch the video. You'll notice that Madam Flo sold her FIRSTHOLDCO due to emotional volatility. She quit just as compounding was about to kick in, ultimately becoming a cautionary tale of letting emotions dictate decisions(Stupid Grit). If she'd overcome her fears, she might've emerged as a true example of resilience(Authentic Grit). I'll revisit this story in 18 months with a piece on "Lessons from Pa Emma's Disinvestment from ACCESS CORP" - a case study in patience and perseverance."

You are making it look like it was bad decision. If otedola hand is not happening in fbn now would u have said all this.Dont get me wrong as I always support long time investment but don't agree on it in the case of fbn.If I had sold my fbn and moved to Presco at cheap price I would have been better. What makes you believe fbn won't go back after ote magic

emmanuelewumi:
If she can get the same 16% by reinvesting she will double her fund in 4.5 years time, if rates increase and she is reinvesting she will double her fund in less than 4.5 years.

If she is not reinvesting she will get her initial capital back in 6.5 years

I see.

One can actually decide to play VERY safe by doing only Money Markets since Nigeria is very generous with rates.


By one, I mean those who have multimillions to those with billions

Today that I almost discounted as not a trading day, not even 1 hour yet and it's already my most profitable day of the month!!

I'll take it as God's christmas gift to me

With this now, I've also broken out of the slow profits of October/November, back above $2k in monthly profits.

E Ku Odun o.
Merry Christmas in advance 🎄
E Ku FBNH 😁
E Ku VFD
E Ku ALEX
Otedola came to do Christmas for investors, very kind of him......

I saw one big Christmas ram here by Mankind I think, make una no forget us wey dey village oo, we never get Christmas meat. 😊

Streetinvestor2 I hail oo 🙌
No forget those wey no get Christmas anything. 😊

* For those that follow buy VFD, patience is key.....it will still deliver well.