₦airaland Forum

gabza:
http://cashcraft.com/docs/Account.pdf

(18) Where the company grants concessions on charges for either a buy or sell it is
understood that the company shall be given instructions for a sell or buy at a
later date.

Clause 18 from the Cashcraft account opening form is fishy. Please do we have a LEARNED COLLEAGUE in the house?

This is an account based instruction. You don't buy when I ask you to sell. I don't need a lawyer for this one at all.

windywendy:
Ah, that one na free loan na Just enjoy it quietly

Na wa for cashcraft o. Chei!

Ah, I don't see it like that. I wanted to sell what I had to I can take my 1M elsewhere.

Now all I have is more Fidelity and still no money. My 1M is still locked in there which is what I don't want. Since August last year.

gabza:
Today for the sake of checking I logged on and what did I see , 50,000 naira in red.

Welcome to the Red club. It has happenned to me several times even with the so-called "Best-in-Class" brokers with state of the art offices.
There is no safe ground. I think it is one of the risks you have to accept. The nice thing is that no-one can pressurise you to pay back.
The agreement you signed while openning your stockbroking account empowers your broker to act on your behalf to a great extent.

Accept wetin? Dat one no be me o. I no dey accept rubbish. The mandate I gave was to sell and not to buy. I no get reverse order action for the contract wey I sign na  

Note that Cashcraft will keep charging you interest if you account is in the red.

gabza:
Quote from: pumping777 on Today at 10:56:14 PM

I would like to know if you left extra money in your account to pay for the extra units of Fidelity.

If it was not funded with your money, then you can assume it was an interest free short term loan which can be paid at your convenience.

No, there was no money in my account to fund the transaction. Now my account shows I am 1M in the red  

Ha! ha! ha!  

Abeg guys. I can't stop laughing. Something happened to me today that is so funny, I can't help myself.

I mentioned here that Cashcraft was my first broker. After my very first transaction with them, I was so upset, I just packed my luggage run comot. They bought me about 90k units of Fidelity and I was so upset I just left everything with them. I did not even want to have anything to do with them.

If anyone remembers, someone came on this thread and said they are world class and many folks screamed. Anyway, that also reminded me of my Fidelity so last week, I went to their online portal and put in a mandate to sell the around 90k units of Fidelity.

Today, I logged on to my account and found they BOUGHT around another 90k units of Fidelity Bank for me instead of selling!!!!!!!

Na real arm robber brokers this ones be. World class ko, gutter class ni. I am so annoyed I just have to start laughing my head off !!!

I dey go house go laugh well well.

@ orisebawo - The portfolio is definitely healthy since with what you have your capital is secure. I know what you really want to rub minds on is if you have made the right choices.

Based on the options that you have, I think you've done as well as possible. It is only a pity that you only have this July this year. Leaving what you have now till July next year should see you double your portfolio without too much hassle.

Good luck.

lawalidowu:
@ pumping, i never see am o! u fit gimme clue here so i go kno wetin in b.
wetin b d initials of d 1s u pick?

I don send am again.

Na only the one wey start with M I go recommend. It is still on net offer so make you see if he go move go down again. TS na anoda consideration. It could be the reason for the weight loss.

lawalidowu:
@ ROUGHCUT AND AKTOPGUN

ABEG HELP ME TELL PUMPING SAY I MAIL AM.

I don reply some hours ago abi u no come get am?  No new mail from you in my box.

blueband:
Mandillas building collapses in Lagos.No more shoe market

I thought this was a planned demolition?

RoughCut:
Infact the current PE is 25 not even 41 and forward PE at current price is ~15 this is because i have been conservative with the expected PAT growth rate.

FYE '07 PAT was N439M and 800M shares listed. They actually increased FY PAT by 128% so i have assumed a PAT growth rate of 60% if i had used 100% that would been a PE of ~12. All of a suden its looking good in my spreadsheet.

Not sure about bonus sha!

Thanks man. I was behind. My trailing PE was based on 2006 results. I don't know how I did not update my spreadsheeet with the 2007 results even though I have it.  I hear you well well. To think this stock was gyrating at N10 for so long. I need spanking  

Well, now that I know

RoughCut:
As it happens VITAFOAM has a forward PE of ~12.5. Na F02 come point me in the direction of the stock last December in anticipation of the expected action for FYE  Sep '07 and boy did they do well?. I don CICO one time na re-entry i dey plan now

Are you sure about this? What basis did you use for the PAT? The trailing PE is around 41.

RoughCut:
Haba you no put on blind-fold now Na Bigtreat and Vitafoam but madam windy come talk am now say he be like say Bigtreat dey for TS.

Ha, now you don comot the wool from my eye.  

yodiyokun:
Hmm I don order the B already but that V-- e get a se be. Make e drop small.

That Intl energy - I no sabi ooo - I go offload some stocks to enter am next week if this openin still dey.

You come get eye pass me sef because I never see these V-Boot and B+ wey una see. Make you show me road o  

Oya, Roughcut too, as na you start am  

blueband:
All the silent readers don dey show face now wey market no dey move.

I think say na only me see am.

Abeg, wey dat person wey talk say something dey happen for Julius Berger?? He no happen again? Make he no be say you just dey spread unfounded rumour sha because the sudden free fall, ogaju. I hope nobody got fingers burnt there.

faketan:
Then triple seven pumper. Thanks a lot.

I will invite you to emirates for double celebration. hope u will come

If you need people to help you cry for missing out again, I will be there No be tripple again?

yodiyokun:
Everything is so over priced right now - I don't know what to buy.

I don tire.

I wonder why oasis inusrance released their FYE so quickly ?? It will ad in bursting this insurance party.

Whats going on with Intl Energy - at 6.60 ?? and it has even refused to rise at all to meet aiico at 7.50 - wetin na??

This is one Insurance company with prospects - at least they will not be doing a PO but market sentiments doesnt favour it currently? I wonder why?

Na NSE you dey look abi another floor? 

Too many doors wey me dey see wey dey open to enter o.

See the better ones wey Roughcut dey see for up there sef? The man too get eye sef take see wetin person like me no fit see. Thank you. Make I go investigate that area.

You come talk one for up there IEI for N6.60?? Na better door be that one o abi until them comot am from the hinges? ;DIt you take out the effect of reconstruction, it means the stock is trading at around N2 per share. The problem is surely the high nominal price that is dragging it down. On the other hand I expect Full Year results that will make the stock fundamentally stronger than most stocks in the sector at current prices.

Caveat plenty o. I get plenty inside.

yodiyokun:
@Pumping you never sell your PHB

I don sell patapata. I was referring to PHB PO. I dey inside dat one too.

@faketan - I don't have news on Bank PHB. I dey inside too so I have my ears to the ground.

EKWA:
Pumping triple 7, any information on Aiico last year public offer.Thanks.

No info. I dey too but I'm not hopeful.

The allocation formula will be terrible considering the current price of the stock. Na internal Engineering to keep others out of the party.

EKWA:
Pumping triple 7, any information on Aiico last year public offer.Thanks.

No info. I dey too but I'm not hopeful.

The allocation formula will be terrible considering the current price of the stock. Na internal Engineering to keep others out of the party.

Kenjo:
@pumping,

Please do you have any new info on japaul po?

No. Just the allotment document and PP letter I shared.

I've not got my money or certificates yet.

I did not hear before now that Livestock could be doing another PO. After the last PO which was followed by a PP?? Hmm.

------------
Proshare News and Analysis
Livestock feeds shareholders funds declines
Posted Thursday, March 6, 2008


Shareholders funds of Livestock Feeds Plc have declined slightly by 2.45 percent in the 2007 financial year end. This was contained in a financial document made available to Proshare N/I.



In the period under review, the shareholders funds of the company dropped from N343 million in 2006 to N335 million in 2007 indicating a 2.45 percent decrease.



While the turnover of the company rose slightly in the period under review. In 2007 the turnover of Livestock Feeds was N581.7 million compared to N560 million it recorded in 2006; representing a four percent rise.



Profit before Tax (PBT) also declined significantly from N728 million in 2006 to N8.840 million in 2007 indicating a decline of 900 percent. Profit after Tax (PAT) of the company also dropped from N748 million in 2006 to N8.324 million in 2007 representing a decline of 998 percent.



As at the time of filling in this report, without prejudice Proshare N/I could not get top officials of the company to comment on the recent financials results of Livestock Feeds or to confirm if they would visit the market to raise fresh funds as members of the Nigerian investing publics are saying.
---------------

My Access certificates and returned money don land since.

aktopgun:
i am sure u have worked out the other part of the equation as well. ie where am i going to put all this dosh from my sale?

Yes o. Very crucial.

The only thing I can say is that there are several opportunities in the market right now. Doors with cracks just dey open now gbagada for entry.

elemu:
@ Pumping

Does it mean that the Japaul PP option is no longer on the table?

I really could not display the japaul.htm file you attached. Yes it was saved in my local drive, and I tried 2 browsers (IE and Firefox). I bet  you can only view it only in your PC or laptop. Why not cut and paste here. Thanks Man

I don't know if the PP thing is still on.

The document was scanned so I'm not able to copy and paste. If you shoot me an email, I can forward it to you.

mecatchcha:
@Pumping777

Oga Pumping, thanks so much for the extra info on Japaul. Can I know when their full year result will be announced and also the associated closure date.

Thanks. Guess I will still have to keep the Japaul for a while.

Based on previous years, expect the Full Year results around April. They should announce the closure date with the result.

mastermove:
well I put in sell order for japaul today kind of fed up of seeing profits go

Well, it is your money but I think this is not the right time to sell Japaul as you can deduce from all my posts yesterday. It has already shed some weight and will probably have a brief upside. That is the time to sell to minimize your loss or increase your profit.

My take. Caveat Emptor.

SuperGuy:
This is just my thought please.
If you have held on to UBA since, I will strongly advise you wait
for another 5wks when the q2 result is expected, this should do the magic
for UBA. This is just the way I feel.

Oya, tell me one banking stock this year that interim result has done magic for?

Even FBN did not move after releasing results until they were looking for the N1 Trillion naira capitalization. Thank God for that one. I chop clean mouth one time.

Was the Q-1 of UBA not fantastic or is it the Q-2 of Zenith that was not fantastic or the N25B delivered by FBN in Q-3? Diamond nko and Fidelity?

See GTB moving. FY result is coming and rumour of bonus. Na that one go move something. My own sha o.

Daddyzee:
My brother,

I had loose dough in one of my accounts my better 'judgement' was in favour of dumping all in Oceanic and see how it goes. The broker (actually the head of research in his firm) encouraged me to split the dough into two and do C&I and Unilever 50/50. I entered yesterday. According to him, their results are due soon and so much restructuring is going on at the moment. He hinted at a bonus issue by both company and he gave a 3-4months horison. According to him, Oceanic UBA Zenith and Diamond all have a 9-11month horison. I am not too good at the market and I may need to put in more dough within the next few days.

What's your take?

Abeg you get better broker. I am no longer friends with those stocks in bold. I have dumped them all fast. Just my opinion sha. If you have more, liquidate. Their time has not come. Caveat Emptor well well.

I sold all my Diamond today and the cool cash is definitely not going into banking. Dem too dey waste my time.

SavvyLanre:
Brother me Pumping - You see sey i dey salute you, i need favour be that,

Analyze this for me, i am currently out of cash and i have Zenith & UBA hanging - would you consider pulling out 50% on both for a quick 20-30% gain?

Be like me and sell all your Zenith and UBA. Yes, I sold UBA at a marginal loss sef and Zenith at a marginal gain.

Caveat Emptor o.

I sold all and entererd Beta Glass, CI Leasing and Lawunion. I took profit from Beta Glass and Lawunion today already. More money in a week than those 2 stocks could give me in 3 months. Those stocks were just gyrating in my portfolio for the last 3 months or so.

When the time is right, I will consider the banks again.

easimoni:
Pumping, the theory is if you applied for (say) 600k units, you'd get (say) 10% based on the "sliding scale" _{(I no know if na the correctgrammar be that o!)} allotmemnt. When you get your cert, please let me know if that's what it worked out to.

BTW thanks.

For 600k unit you will get 2% from the main allotment and 0.25% from the supplementary allotment making 2.5%