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@nne_mak

Thank you for you contribution. it is nice to find someone was has been in such a test situation before but you could throw more light on the entire test scenario

Does anyone have any information on what the test would be like?

Imagine Cassidynca no even sabi spell mate. Newday is so miserable and wants to let everyone to know that he was a corper before. For your info Newday, we are not interested if you know the intricacies of the NYSC scheme because we understand that you are not a graduate. You sound like one of those sellers in mammy market that picked up the NYSC words during one of you efforts to make money to get out of your miserable life. I have just one advise for the two of you; " A foolish man would be thought of as wise if he could just keep his mouth shut."

To all NYSC members past, present and future, keep obeying the clarion call and we'll be at the top obviously without people like these two.

KOPAWIOOOO!!!!!

Okay David And Ikyiron no need to fight. The truth is that even people without degrees have a chance to suceed especially in this current dispensation so first class, or third class. we still have the REAL issues of life to contend with and believe me you dont learn that in school.

there is a lot of hope!

I believe that at this point alot of stocks are already undervalued. We may likely experience an up trend in the first quater of 2009

visit www.reportyourstockbroker.com

Watching the crowd jubilate in America, Listening to his speech and seeing the colour of victory around the world, I can't help but imagine that the black race were once discriminated against in this same country, Anything is really possible. I wonder how Martin Luther King Jr would feel he will almost smile in his grave beacause this was HIS DREAM,



log on to www.reportyourstockbroker.com

A review of offer prices of active mutual funds on memorandum quotation on the Nigerian Stock Exchange last week showed that both equity-specific and mixed mutual funds have recorded significant depreciation, although equity-specific funds were hard-hit.

The review showed UBA Equity Fund, an equity-specific mutual fund, with the highest depreciation of 30.6% dropping from its opening offer price of N1.57 per unit to N1.09 per unit. Legacy Fund, managed by FCMB, followed with a loss of 20.3% with an offer price of N1.37 as against its 2008 opening offer price of N1.71 per unit. UBA Balanced Fund, a mixed equity and fixed-income securities mutual fund, dropped by 17.6% to N1.22 per units compared with its opening price of N1.48 per unit. Stanbic IBTC Nigerian Equity Fund, probably Nigeria’s most successful mutual fund, recorded a drop of 16.1% from opening price of N12, 399.01 per unit to N10, 396.93 per unit.

The ARM Discovery Fund, under the management of ARM, also retreated by 11.4%. Coral Growth Fund, managed by FSDH Asset Management Limited, recorded a loss of 10.4% while Sterling Capital’s Frontier Fund has lost 9.0%. The Stanbic IBTC Ethical Fund recorded a decline of 15.6% dropping from opening offer price of N2.05 per unit to N1.73 per unit. Coral Ethical Fund, which extended its unethical list to include all interest-bearing securities and financial services companies engaging in conventional interest-based businesses, also dropped by 15.1% to N888.30 compared with N1, 046.17 per unit.

Fixed-income and mixed mutual funds meanwhile showed some restraints with Coral Income Fund posting an encouraging positive return of 5.0%. Both UBA Bond Fund and UBA Money Market Fund posted a loss of 4.7% each.
However, market review still showed most mutual funds, with the exception of UBA Equity Fund, trailing below average market loss with the NSE’s All Share Index indicating a year-to-date loss of 27.11% during the review period.

SOURCE: www.reportyourstockbroker
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@ Ibime are you saying in essence that this is the best time to enter the market as a smart investor?

I believe it has a domino effect on everyone because, the stock market situation is not just for the companies listed alone and it shareholders but it goes a long way to reflect the economic situation of a companu which mrans even though you do not have money in the bank you will be part of a reccesive economy where the cost of living would be relatively high.

Hi Everyone is this the end of the downward trend or are we going to experience more reccesion just look at the market state and what do you think?

The Nigerian equities market continued on its downward trend today for the second trading day in the week; causing the market to depreciate by 355 basis points. At the end of today’s trading session, the ratio of advancers to decliners was 0:66; the ASI lost 1,477.24 points to close at 40,162.91, whilst the market capitalization decreased by US$2.78billion to close at US$75.56 billion. Universal Insurance Plc lifted activities in Insurance sector and market in general as the stock accounted for 43.08% of total market volume, though more than 95% of this volume was block trades.

The circuit breaker of 1% downward limit was today removed by the Nigerian Stock Exchange and replaced with 5% downward limit. In spite of this regulatory action, the doldrums in the market was still pervasive as most of the stocks in the Banking and several other sectors experienced intensive selling pressure, with a greater number of them closing lower. In addition, no gainer was recorded today compared to sixty six (66) stocks that closed on offer and lost maximum 5%.

Activities in the market today suggest loss of investors’ confidence as well as illiquidity and this was corroborated by the surge in the volume of net offer. While the removal of the 1% limit down circuit breaker is a very much welcome development, the level of over-hang in the market still remains elusive. Barring any intervention in the market, we expect the downward trend to continue in the days ahead until the current over-hang is cleared.

Index was down by 355 basis pts on 4,383 trades. Average size of trade was US$2,416 with total value of US$10.59 m. Market cap closed at US$75.56 billion.

Overall, there were no gainer and 66 losers and 60 unchanged. The Insurance Sector led the volume chart followed by the Banking sector and both accounted for 63.77% of total volume traded.
Universal Insurance traded 96.243 million shares to top the overall volume chart. Other stocks that closed in the top echelon were Transcorp, UBA, Spring Bank and First Bank.

* Net Bid: Spring Bank
* Net Offer: Investment and Allied Insurance, FCMB, Fidelity Bank, Lasaco and Access Bank.
* Top Gainers: Nil.
* Top Losers: Air Services Plc, Oceanic, Platinum, BOC GAS and Con Oil

for more info visit www.reportyourstockbroker.com
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@ smith
Yobe Investment Company Limited
Address: East Pavillion (Suite 5A), Tafawa Balewa Sq. Complex, Fed secretariat, Ikoyi, Lagos.
Phone: +234 1 2637288, 08042129013.
Website: http://www.yobeinvestment.com
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The bearish trend in the Nigerian equities market continued unabated on the first trading day in the week, causing The Nigerian Stock Exchange, All Share Index to depreciate by 58 basis points. At the end of today’s trading session, the ratio of advancers to decliners was 0:52; the ASI lost 243.95 points to close at 41,640.15, whilst the market capitalization decreased by US$0.46 billion to close at US$78.34 billion. In addition, the volume and value of transactions closed lower by 4.74% and 1.16% respectively.

Union Bank of Nigeria Plc today released its audited account for the year ended 31th March, 2008. Turnover grew by 26.61% to N112.989 billion, Profit Before Tax grew by 87.81% to N33.012 billion, while Profit After Tax soared by 93.54% to N26.855 billion. The management of the company proposed a dividend of N1.00k and a bonus of 1 for 6 with closure of register and payment date of November 17th and December 3rd, 2008. In spite of this corporate action, the stock failed to enjoy investors’ patronage as it closed lower and lost full 1%.

In addition, Eterna Oil Plc today released its un-audited results for the third quarter ended 30th September, 2008. Turnover increased by 144.54% to N9.960 billion, Profit Before Tax grew by 220.89% to N123.24 million, while Profit After Tax increased by 184.62% to N86.268 million from a loss of N101.946 million in the corresponding period of 2007.

In spite of the alluring results from companies such as UBN, market refused to go agog as most of the stocks closed lower with no gainer recorded. This situation may be connected with the liquidity constraints in the capital market, loss of investors’ confidence and to an extent, the global financial turmoil.

Index was down by 58 basis pts on 15,141.3 trades. Average size of trade was US$3,064 with total value of US$14.31m. Market cap closed at US$78.34 billion.

Overall, there were no gainer and 52 losers and 68 unchanged. The Banking sector led the volume chart followed by the Insurance sector and both accounted for 69.90% of total volume traded.

Chams Plc traded 62.556 million shares to top the overall volume chart. Other stocks that closed in the top echelon were Spring Bank, Lasaco, Intercontinental Bank and First Inland Bank.

For more Info on stock market reports. visit www.reportyourstockbroker.com

* Net Bid: Spring Bank Plc.
* Net Offer: Investment and Allied Insurance Plc, Universal Insurance, UBA, Lasaco and Fidelity Bank Plc.
* Top Gainers: Nil.
* Top Losers: Skye Bank, Nigeria Ropes, Nahco, Okomu Oil and Dangote Sugar.

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go and get ur own customized number "u-chose" from etisalat

Arco Petrochemical Engineering Company is a company that provides services to the Oil and Gas Sector. The company has been in business since 1980 and boasts of a highly skilled Management staff. It is also an indigenous firm operating in the energy sector.

Arco Petrolchemical Engineering Company limited is seeking to raise N3.125 billion through a Private Placement of 1,250,000,000 Ordinary Shares of 50k each at N2.50 per share. Already the Company has Issued and Paid up capital of N1.235 billion. The purpose of the Placement is to facilitate human capital and infrastructural expansion, and to increase its working capital needed to handle increasing business transactions. FutureView Financial Services Limited is a Joint Issuing House alongside Greenwich, Oceanic Capital and Sterling Capital.

The Company’s Corporate Head Office is in Lagos and it also has 3 branch offices at Port Harcourt, Warri and London. It maintains a partnership agreement with not only General Electric (GE) for the supply of equipment to the Energy Sector but also other reputable multinationals which includes Hyundai Heavy Industries of S. Korea, Japan Steel Works and Global Industries in United States.

The principal objective of the company is to grow and develop into the leading engineering products and services group owned and managed by Nigerians challenging international companies in the energy sector of the Nigerian economy. Already the company is pursuing this goal through Diversification: The 3 operating subsidiaries listed below will provide the base to achieve substantial growth over the coming years


ASCOT-ARCO Power Ltd produces and market intelligent generator sets which is unique in the market and has high demand

ARCO Maritime & Oil Services is developing to become a leading Oil field Transport and Services Company providing services to upstream Oil firms

ARCO Pipeline Solutions Limited is strong enough to attract and manage retainership mandates for oil companies. It’s chances has been enhanced by Government’s policy on local content.

For More news and private placement information, log on to www.reportyourstockbroker.com

The Economic and Financial Crimes Commission on Wednesday arrested the Managing Director of the Nigerian Aviation Handling Company Plc, Mr. Bates Sarki Sule, over an alleged mismanagement of N210m belonging to his organisation.
A source in the commission who informed our correspondent of the development in Abuja, said Sule was arrested on Wednesday morning at the headquarters of the commission in Lagos by EFCC operatives who had in the last one week, kept him under watch.
He was subsequently taken to the Lagos office of the commission where he was interrogated by investigators.

Sule was still being detained by the commission as at 8pm.

The NAHCO MD was arrested following allegations that he bought N150m worth of shares for himself with funds belonging to the organisation.

He was also accused of having unilaterally inflated an unnamed contract executed in the Port Harcourt office of his company from N18m to N60m.

Our source said seven other officials of NAHCO had earlier been interrogated over the matter last week.

When contacted, EFCC’s Head of Media and Publicity, Mr. Femi Babafemi, confirmed Sule’s arrest on Wednesday.

He said the NAHCO boss was picked up for interrogation over allegations that he mismanaged some funds.

“I can confirm that he is with us in our Lagos office. He is talking to our investigators,” Babafemi said.

NAHCO officials earlier picked up, quizzed and released the head of internal audit, and the heads of maintenance and cargo operations.

THE PUNCH learnt that the arrests had to do with a petition written against Sule.

Part of the allegation being raised by the petitioners was also said to have been that Sule was accused of mismanaging the Public Offer fund by placing it in a bank.
The fund was alleged to have been placed on call interest which was taken and shared.

It was also alleged that misappropriation was responsible for the company’s delay in paying certain emoluments to the company’s staff.

The petitioner also alleged that Sule connived with the head of internal audit to deduct excess revenue without the board’s approval.

Sule was also accused of having four million units of shares in NAHCO and commanding shares in other blue chips companies.

The Head, Corporate Communications, NAHCO, Mr. Demola Akinbola, could not be reached for comment on the incident.

But, an official of the Corporate Communications Department of NAHCO, Mrs. Fidelia Obumselu, told our correspondent that she was not aware of the arrest, claiming that she had earlier in the day gone to Eko Hotel with Sule where he presented a paper. - Punch


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The official description of the Dividend Growth Model is; 'A stock valuation model that deals with dividends and their growth, discounted to today'.
This model assumes that the basis of the valuation of stock is:

The Current Dividend
Growth of the Dividend
Required Rate of Return
It is best to describe this model by using an example. Assume that a stock is paying $2.00 per year in dividends, growing at 3.5% per year. The so-called variable item in this example is the investors required rate of return, which we will assume is 12.4%.

The formula for the Dividend Growth Model is:

Value = (Current Dividend * (1 + Dividend Growth)) / (Required Return - Dividend Growth)

Now, let's insert the assumptions for the example into this formula:

Value = (N2 * (1 + .035)) / (.124 - .035)
Value = N23.26

Now what does this mean? Basically this means that based on the current situation (the assumptions) this stock should yield a 12.4% average annual return at a price of $23.26.

You might want to look at the required rate of return example for a discussion of that piece of this puzzle.

USE A CALCULATOR: http://www.finplan.com/invest/divgcalc.htm

If you like this post then log on to www.reportyourstockbroker.com for more

Gordon Growth Model

What does it Mean? A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. Given a dividend per share that is payable in one year, and the assumption that the dividend grows at a constant rate in perpetuity, the model solves for the present value of the infinite series of future dividends.

STOCK VALUE (P) = D/ K-G


Where:

D = Expected dividend per share one year from now

K = Required Rate of Return for equity investor

G = Growth rate in dividends (in perpetuity)

Because the model simplistically assumes a constant growth rate, it is generally only used for mature companies (or broad market indices) with low to moderate growth rates.
If you liked this post then log on to www.reportyourstockbroker.com you wont regret this

That's true, we've been talking. I dont use glo but I hail them and for real Glo is the Nigerian brand!!!!!!!!!!! NA them sabi

Good job Keep it up

This are really the million dollar questions

Question 1: How long would it take you to save $1million? How long would it take you to borrow $1million?

Question 2: Who is going to get richer in the long run? Someone who works all their lives trying to save a million dollars? Or someone who knows how to borrow a million dollars at 10% interest and also knows how to invest it and receive a 25% per year return on that borrowed million dollars?

Question 3: To whom would a banker rather lend money? Someone who works hard for money, or someone who knows how to borrow money and have that money safely and intelligently work hard for them?

Question 4: Who would you have to be and what would you have to know in order to call your banker and say “I want to borrow a million dollars” and have the banker say, “I will have the papers ready for you to sign in 30mins”?

Question 5: Why does the government tax your savings but give you a tax break for being in debt?

Question 6: Who has to be financially smarter and better financially educated, a person with a million dollars in savings, or a person with a million dollars in debt?

Question 7: Who has to be financially smarter with money, someone who works hard for money or someone who has money work hard for him?

Question 8: If you had a choice of education, would you choose to go to school to learn how to work hard for money, or would you rather go to school to learn how to have money work for you?

Question 9: Why do people the people who work the hardest and save the most pay more in taxes than people who work less and borrow more?

Question 10: If you want to learn more then register on the latest stock market forum www.reportyourstockbroker.com. If I can do it, you can do it also

Thanks

The official description of the Dividend Growth Model is; 'A stock valuation model that deals with dividends and their growth, discounted to today'.
This model assumes that the basis of the valuation of stock is:

The Current Dividend
Growth of the Dividend
Required Rate of Return
It is best to describe this model by using an example. Assume that a stock is paying $2.00 per year in dividends, growing at 3.5% per year. The so-called variable item in this example is the investors required rate of return, which we will assume is 12.4%.

The formula for the Dividend Growth Model is:

Value = (Current Dividend * (1 + Dividend Growth)) / (Required Return - Dividend Growth)

Now, let's insert the assumptions for the example into this formula:

Value = (N2 * (1 + .035)) / (.124 - .035)
Value = N23.26

Now what does this mean? Basically this means that based on the current situation (the assumptions) this stock should yield a 12.4% average annual return at a price of $23.26.

You might want to look at the required rate of return example for a discussion of that piece of this puzzle.

USE A CALCULATOR: http://www.finplan.com/invest/divgcalc.htm
If you like this post then log on to www.reportyourstockbroker.com for more


Gordon Growth Model

What does it Mean? A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. Given a dividend per share that is payable in one year, and the assumption that the dividend grows at a constant rate in perpetuity, the model solves for the present value of the infinite series of future dividends.

STOCK VALUE (P) = D/ K-G


Where:

D = Expected dividend per share one year from now

K = Required Rate of Return for equity investor

G = Growth rate in dividends (in perpetuity)

Because the model simplistically assumes a constant growth rate, it is generally only used for mature companies (or broad market indices) with low to moderate growth rates.
If you liked this post then log on t o www.reportyourstockbroker.com

The official description of the Dividend Growth Model is; 'A stock valuation model that deals with dividends and their growth, discounted to today'.
This model assumes that the basis of the valuation of stock is:

The Current Dividend
Growth of the Dividend
Required Rate of Return
It is best to describe this model by using an example. Assume that a stock is paying $2.00 per year in dividends, growing at 3.5% per year. The so-called variable item in this example is the investors required rate of return, which we will assume is 12.4%.

The formula for the Dividend Growth Model is:

Value = (Current Dividend * (1 + Dividend Growth)) / (Required Return - Dividend Growth)

Now, let's insert the assumptions for the example into this formula:

Value = (N2 * (1 + .035)) / (.124 - .035)
Value = N23.26

Now what does this mean? Basically this means that based on the current situation (the assumptions) this stock should yield a 12.4% average annual return at a price of $23.26.

You might want to look at the required rate of return example for a discussion of that piece of this puzzle.

USE A CALCULATOR: http://www.finplan.com/invest/divgcalc.htm
If you like this post then log on to www.reportyourstockbroker.com for more


Gordon Growth Model

What does it Mean? A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. Given a dividend per share that is payable in one year, and the assumption that the dividend grows at a constant rate in perpetuity, the model solves for the present value of the infinite series of future dividends.

STOCK VALUE (P) = D/ K-G


Where:

D = Expected dividend per share one year from now

K = Required Rate of Return for equity investor

G = Growth rate in dividends (in perpetuity)

Because the model simplistically assumes a constant growth rate, it is generally only used for mature companies (or broad market indices) with low to moderate growth rates.
If you liked this post then log on t o www.reportyourstockbroker.com

cool! but are we down with coffee here? when last did you have coffee?

Economic Update

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The Nigerian National Petroleum Corporation (NNPC) disclosed that the bursted feeder pipeline supplying about 125,000 barrels of Oil to the Warri Refinery and Petrochemical Plant has not disrupted its operations. According to the company’s subsidiary, the Pipeline Products Marketing Company, PPMC, repairs on the pipeline would be completed today

The Central Bank of Nigeria (CBN) has mopped up N65bn from the financial system by issuing fresh treasury securities through its Open Market Operations (OMO).
Price of London Brent crude traded at $9 1. 31/barrel at the Intercontinental Exchange (ICE) today.


Equity Market
Key equity market indicators shed another 54 bpts today, culminating in a week to date decline of 109 bpts. The All Share Index and market capitalization of listed equities closed lower to 45,712.41 and N9.73tr respectively. The performance may not be far fetched from lower market activity as 292.96mn shares, less by 33.4%, valued at N1.94bn were transacted in 6,492 deals. Meanwhile, YTD decline at the close of today’s transaction was 21.17%, compared to a total decline of 31.12% from the year high, attained in March 2008.

126 listed equities were traded today. Only 4 of these appreciated in price, while 62 declined as 60 others remained unchanged. Sequel to this, gainers to losers’ ratio weakened to 0.06:1, while market breadth moved in the same direction to -0.46.

The half year financial performance of Juli Plc was announced today. The company achieved a turnover growth of 35% to N137.97mn. However; its increased turnover was not enough to drive profits as it posted a net loss of N6.21mn, some 31% higher than its loss position in the corresponding period. The company’s stock closed unchanged at N3.91.

There were only four gainers on the NSE price list today. They were BOCGAS, N28.48; DAARCOMM, N5.78; CHAMS, N3.32 and WAPCO, N37.29.
On the flip side were several banking stocks including FCMB, N10.93; GUARANTY, N20.94; UBA, N24.95 and ZENITH, N35.94.

The three most active stocks were SPRINGBANK, 144.4mn (N5.59); IAINSURE, 45.9mn (N0.74) and FIDELITYBK (N7.29)

On the one hand, newly listed issues, CHAMS, N3.32 and DAARCOMM, N5.58, sustained their uptrend today as they rose to new highs. On the other hand, two bank stocks, ACCESS, N11.41 and FCMB, N10.93 including GUINNESS, N115.38 closed to new 52-week lows today.



Money Market
There was a recovery in the recent trend in money market activities as short tenored rates firmed up today. The strongest mover was the interbank call rate, adding 117 bpts to 12.25%.
The official exchange rate of the Naira as released by the CBN remained N116.06/US$ as at yesterday. Interbank exchange rate averaged 117.77/US$ today.

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Dealers Perspective - 031008
Posted Friday, October 3, 2008
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The Nigerian equities market witnessed yet another lull period as major market indicators strode southward and end in bear’s camp. On a day which saw the ratio of advancers to decliners to be 1:15.5, the ASI lost 247.49 points to close at 45,712.41 whilst the market capitalization declined by US$0.45billion to close at US$83.45 billion. However, values of transactions experienced a surge as the indicator increased by 18.79% and closed at $16.62 million.



Juli Plc today released its un-audited results for the half-year ended 30th June, 2008. Turnover increased by 34.66% to N137.9 million however, PBT decreased by 30.57% to N6.211million and PAT decreased by 30.57% to N6.211million loss from N4.757 million loss in the corresponding period of 2007. In spite of the unimpressive performance of the company, the stock closed flat at the end of today’s trading session. This may not be unconnected to the low volume traded on the stock.



The downturn in the market may not be unconnected to the investors’ apathy, loss of confidence and the wearing out of the euphoria generated by the announcements of recent palliative measures. The market seems to be waiting for another bail out from government before taking positions as previous rally which was not sustainable occurred due to government intervention. In our opinion, the market may continue to drop till we get to a real end of this long drawn bear run and a cleansing for the market which may set the stage for true sustainable and healthy growth in the market.



Index was down by 54 basis pts on 6,492 trades. Average size of trade was US$2,560 with total value of US$16.62m. Market cap closed at US$83.45 billion.



Overall, there were 4 gainers and 62 losers and 60 unchanged. The Banking sector led the volume chart followed by the Insurance sector and both accounted for 83.89% of total volume traded.



Spring Bank Plc traded 144.39 million shares to top the overall volume chart. Other stocks that closed in the top echelon were Investment and Allied Insurance, Fidelity Bank, Chams and FTN Cocoa.



* Net Bid: Spring Bank and Chams.

* Net Offer: Investment and Allied Insurance, Lasaco, Afribank, Transcorp and FCMB.

* Top Gainers: BOC GAS, DAARCOMM, CHAMS and WAPCO.

* Top Losers: FCMB, Guinness, GTB, UBA and Zenith Bank.
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Posted Thursday, October 2, 2008
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The Nigerian equities market ended today’s trading session on a pessimistic note as major market indicators strode southward. The ratio of decliners to advancers increased to 8:1, as against the 5 day average of 6.4:1 witnessed over the past five-day trading sessions; whilst the ASI declined by 55 basis points to close at 45,959.9, compared to the 5-day average of 46,815.64. Market capitalization decreased by US$0.46billion to close at US$83.9 billion. In addition, values of transactions declined by 31.04% and closed at $13.99 million.



The price of Avon Crown Cap was today marked down for a dividend of N0.15kobo by the Nigerian Stock Exchange.



C&I Leasing today released its un-audited results for the half year ended 31st July, 2008. Turnover jumped by 173.39% to N2.8 billion, PBT also increased by 47.12% to N306 million, while PAT increased by 51.98% to N269 million, from N177 million in the corresponding period of 2007. 7Up Bottling Company released its audited results for the year ended 31st March, 2008. Turnover grew by 11.95% to N30.572 billion, PBT and PAT increased by 26.53% and 31.91% to N2.48 billion and N1.608 billion respectively. In addition, the company’s management proposed a dividend of N1.50 kobo with closure date of October 20, 2008 and payment date of December 10, 2008. In spite of the earnings and corporate action, the stock failed to enjoy investors’ patronage, causing the stock to shed maximum 1% at the end of trading session.



Activities in the market continued on a losing spree as investors remain un-attracted by the declining share prices. This suggests the presence of liquidity squeeze in the market, loss of investors’ confidence, and investor’s preference for less risky investment. In our opinion, we anticipate that the market down turn will bottom out as we approach the 44,000 index level where we witnessed some level of support prior to the introduction of the initial palliative initiatives by the regulators and stakeholders. In view of this, we expect the steady decline to continue until further initiatives are implemented.



Index was down by 55 basis pts on 5,888 trades. Average size of trade was US$5,757 with total value of US$33.9m. Market cap closed at US$83.9 billion.



Overall, there were 7 gainers and 59 losers and 56 unchanged. The Insurance sector led the volume chart followed by the Banking sector and both accounted for 84.24% of total volume traded.



Investment and Allied Insurance Plc traded 236.92 million shares to top the overall volume chart. Other stocks that closed in the top echelon were Spring Bank, Chams, Fidelity bank and Guinea Insurance.



* Net Bid: Spring Bank and Chams.

* Net Offer: Investment and Allied Insurance, Lasaco, Transcorp, Afribank and Equtiy Assurance.

* Top Gainers: Chams, Adswitch, Daar Communications, Big Treat and Neimeth.

* Top Losers: Oceanic, NB, Starcomms, First Inland and Nahco.

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register now!!!

To the contrary, the bearish trend in the market is not a loss of monetary value as we all have been made to believe. Money has just exchanged hands. Velocity of money states that; Money flows from the point of least knowledge to the point of higher knowledge thereby creating opportunities. The truth is; money is never lost in the capital market, it could only be transferred from one person to another. While some people are dejected and panicking because money is being transferred from them, others are excited because money is being transferred to them.

For the first group of people their prayer is "let this cup pass over us Oh Lord!" However, it is "thank you Lord!" for the second group what an irony of life. The same market the same country, the same economy and the same rule but different results from different players.

The US stock market has experienced market crash or bearish trend more than any stock market in the world. The severity and duration of the bear market of 1907, 1929/1932 1973/1974, 1961/1962, 1969/1970, in the US capital market are to buttress this fact. In addition, after a prolonged bullish trend of 1990's "dot com boom" the US capital market has been bearish since the year 2000 yet people are making billions of dollars daily in the market. It is noteworthy to point out that Warren Buffett, William O' Neil, Jesse Livermore, Benjamin Graham, Charlie Munger, Philip Fisher and Walter Schloss have made so much money in this same market bear or bull. In 2007 alone, Buffett made over $10 billion in a bear market! and is still making more money. He made his wealth substantially by investing in shares of companies in the US stock market.

The legend, Warren Buffett, the richest person in the world by Forbes Magazine 2008 List of world richest persons and their net worth, put the asset value of Buffett at about $68 billion. Interestingly this man turned on an investment of $105,000 into a $20billion plus investment fortune by investing in the stock market. It may further interest you to know that he made the chunk of his money in a bear market that started in the year 2000 and since then Warren Buffett the Oracle of Omaha has never looked back. His net worth has continued to increase in multiple folds whether in a bull or bear. Therefore it could be deduced from the investment life of Buffett that, money is made in the market at all times, Bull or Bear and that bear markets actually presents a life time investment opportunity. If Warren Buffett could achieve this feat then it is much easier to achieve the same feat by simply looking at what he and others in his league did and do the same. That is exactly what I intend to achieve during the course of this write-up. Having established the fact that Bear or Bull, money is made and that bear market is actually a life time opportunity.

The fact is that you can always stay ahead of the market in the aggregate yearly no matter how ravaging the bearish trend may be. Bull or Bear is a win-win situation and you could advance more on your winning streak in a bear market.
As the administrator of the www.reportyourstockbroker.com online forum my Job is to make you money and make sure you dont burn your fingers.
It is important to mention that this article was written before the federal government intervention to stem the tide of bearish trend in the Nigerian capital market. However, as long as the capital market exists bearish and bullish trends shall never cease. Positive intervention is good but let it be clearly stated that it is not targeted at you as an individual investor per se although beneficial, but ultimately it is your knowledge of investments in general and by extension of the capital market that determines your financial report card.

Using Debt to Invest
One of the most telling signs of irrational behavior is when margin debt is running high.
Some consider borrowing on margin to be too risky for them, but consider some of the
stories out of China right now. I have read reports of people borrowing against their
credit cards or even their homes to invest in the stock market. Now that’s risky!
But that is how irrational investors are currently, not just in this country, but in other countries as well. The normally conservative Chinese society has taken to borrowing against their credit cards in order to invest in stocks.
What Should You Do?
As a short-term speculator, I don’t make trades or recommendations based on economic
data. I watch for a shift in the trend in the market. The market is still in an uptrend and
may remain that way for a while, but when it does turn lower it will be a sharp and
vicious decline if investor behavior continues to be irrational.
I am not going to recommend that you rush out and sell all of your stock holdings. I’m
also not saying you should rush out and load up on puts. But I do believe it would be
prudent to take some gains off the table on any long positions you may have. It might not
be a bad idea to buy some long-term puts on some of the big ETFs, such as the AMEX
Diamonds Trust (DIA), the Spyders (SPY), or the Nasdaq-100 Trust (QQQQ). These
long-term puts can serve as insurance for your portfolio should we see a major correction.
A small amount invested in long-term puts can make up for some, if not all, of your
losses on your stock portfolio.
Moving money out of stocks and into cash or bonds could serve you well over the next
few quarters. I don’t think it’s time yet, but if the economic indicators continue to slide
and it becomes increasingly likely that a recession is upon us, these adjustments to your
investment allocation will pay off greatly.
I am not one of these perma-bears who is always looking for a crash, but I also am not a
perma-bull who thinks the market only goes one way. I believe very strongly in playing
both sides of the market. But when investor optimism is running high, it’s time to be
worried about a pullback. And right now is one of those times.
As the administrator of www.reportyourstockbroker.com forum, it is my job to make you money regardless of
market conditions. If I can save you some money because of a heads-up special report
like this one, that is a bonus.
Good luck and good trading,