@AkTopgun

Wishing your son well. Please tell us he is fine. We'll keep praying for him.

@FatherOF2

Do you hear anything from ololufemi at all? We haven't seen him around for two days now. I hope he is okay.

@AkTopgun

It is Well With Tobechukwu. Amen.

The Good Lord shall uphold him.

Worry Not.

@easimoni

There you are!  Thanks a lot.

I will adjust as necessary.  I think Aptistock used the old method as well.

grabdaloot:

The key thing in RSI calculations is the date of start of evaluation. You started from the 29th of NOV 2007 but I am sure Easimoni has his from the 6th of Sept. Remember that history is very key in RSI evaluation.  Goodluck bro

@grabdaloot

Thanks.  But I just cut part of the data to make the spreadsheet small.  For example, If I have only the data for the last 10days,  I should be able to calculate 9 Day RSI, which should not have anything to do with previous history? am I right?

@easimoni

Please, if you have time check the spreadsheet I attached, its just an extract of the Ikeja Hotel thing.  I got a 9 day RSI of 23 for 11th Jan '08, still not equal to yours. Could there be anything wrong in it. And also if you Aptistock, check 11th Jan '08 9 |day RSI for Ikeja Hotel. I am just trying to find out where I got it wrong.  Many thanks.

@easimoni

Hi, How do you get 9 day RSI of 19 for Ikeja Hotel. I use Aptistock, and the data is up to date today, the 9 Day RSI I got is 41.  Please do clarify, may be I am doing something wrongly.  Thanks.

Mr. Cee:

On the scale of 1 - 10 how would you rate the services of Cowry asset. I want to try a second broker I have one already (Vetiva).

@Mr. Cee

I have heard good things about Vetiva, I wanted to start with them, their minimum A/c opening amount put me off.

Cowry Asset, for all I have done with them, I rate them 8/10 i.e buy & sell order, communication, customer services, and online account support for client.  Eeem, don't take advise from them!

@oawele

At cowry asset , you can send in orders by mail, and its as good as going there yourself.

@Wanaj0

Great for you Man.

But please pop in from time to time and give us invaluable tips, information and contribution.  We miss you.

Cheers.

@Blueband

I sent you the Access Allotment Proposal.

@oawele

I use cowryasset Mgt ltd.

www.cowryasset.com

You can get their contact and address from the website.

I got a good account officer, order are prompt, so far,  (six months, since I have been with them).

Its like their minimume is 200K, Call them up and try to speak with one Ayodele.

cheers.

pumping777:

Thanks!!!

Aiico must remain on full bid till TS is lifted and the stock price races for N4.50

kpineo:


daily position as promised.
AIICO is on full bid.
Father of 2.
how we go crack this one to enter

Now, how we go do am? To get now on the floor is tough (one needs a six digit units to make something good), buy PO, it get oversubscibed, money get returned.

crazyT:

@ All (especially parents)


Hi guys, I learnt from you all how important it is to teach your children about trading in stocks at an early age.

So I am planning to call my boys (11 and 8 years respectively) to a round table discussion today about stock market.
Can any one of you help a brother with tips on how to explain stock market to kids?

The idea just hit me now after calculating how much we spend for their birthday presents just last week (about 1200 Euro) The bithday parties (both at home and schools not included) so I was planning to use that as an example and show they what would have happen to the same money had it been it was invested in Capoil or any of the penny stocks.

Or am I going too far

Yeah, you are.  Good idea, but wrong age. Delay it until perhaps they approaching 18. But nothing stops you from investing in their names though, and talking to them about money in a way that commensurate with their age as they grow, this will be better than sitting them down now and teaching them STOCK trading now. Just my own humble opinion.

@easimoni

Ok. pictured that. Thanks.

@Pumping777

Thanks for that. I can see the picture now.

@All

GT Bank Result. someone mentioned they can still make 21Bn full year PAT on this thread. Given they made 11 point something bn so far how are they going to make another 11bn only in the last quarter of the year? I don't think Banking business is such seasonal for such performance. And I seriously think if they do make 21bn eventually, one needs to look beyond the surface.

Anyone one agree? 21bn Full Year PAT possible?

@AKtopgun

What a great Xmas gift you got from God.  congrats!!!

Tamilore is welcome on board!

And we don't know where the party is taking place oo, may be we should be expecting e-Invitation, or na e-rice and e-chicken you wan serve us.

@FatherOF2

Given that UBA has announced their full year result, and has just delcared dividend, what do you think can drive the price up in the short term? The price is looking not too bad, but what do you yhink can influence and upward movement in ther short term.

@wanaj0

Please can I have a copy too.

I am at sulaiman_gboyega at tiscali dot co dot uk.

Thanks.

@aquita

Check page 187 of this thread. He posted the spreadsheet there

@Pumping777

Thanks a lot.

@Pumping777

I see you are online, just to know you opinion on this scenario -

I bought GT price at a high price, and if I sell now I will take a loss of 15%.  But given the situation with GT Bank in the last few months, would you rather take the loss and try and take position in other emerging opportunites, like Oceanic & UBA  or would you hold given that it has to appreciaite 17.5% before I break even.  I have had it for 4 months now.

Thanks.

@Pumping777

Great!! the spreadsheet is good.  More grease to your palm.

Like you aid individuals need to update it from time to keep it current.

For beginners, the spreadsheet is good, but like easimoni and a host of others have said, indulge in the study and understanding of basics, terminologies and basic interpretation of terms, investopedia.com can help a great deal.  Once this is done, verification of data, source of data and advise on grey arrears will only remain for guys to ask and this will make the thread really refreshing.

l
easimoni, wanaj0, pumping777, Roughcut, yodiyokun, (I laugh each time I pronounce this), Temmie10, FatherOf2, EMMACHILLE
@All
Thanks for keeping this thing going, its really interesting.!!

Mycece

My calculation says 200 million units @ 24.90 is 5bn Naira! With that kind of thing belonging to you, you get whatever deal you want for a loan if you walk into ANY BANK! Something don't smell good here.

@Yodiyokun

Yes!!! You have.

And I am still thinking what made Iwerebor went that far.

Tmoni,

wanaj0 option2 looks good, but I think you need to take another look at it.

1. Wema constitutes 9% of your portfolio, so you are not going burst by any means.

2. The rush to sell does not necessarily reflect the scale of the problem. People who are buying will wait until the price becomes really juicy, and that's why the net offer will keep piling up and the price keep dropping 5% as long as more and more people are selling. for some people it makes perfect sense to sell now, may be they got in at a good price.

3. Take a step back, do you think Wema can recover from this in the short term, say six months? And do you think the price can rise above what it is today eventually?

4. Also remember, they are already six months into the new account year, may be the worst is over, and the next few weeks we will have some good news from Wema which will douse the tension. Also remember, the people at Wema will know the full implication of this result and they are not going to sit down and do nothing.

So in summary, I think you can get it sold eventually, but at a big cut say 25-30%, but if next three months can reverse the trend, will you take another route? NSE,

@Denex

-------------
If a mosquito sucks your blood and you get malaria, you can't simply get well by withdrawing blood from the same mosquito and injecting it back in your body.

If you drop a piece of burning coal on a bush and cause a wildfire, you can't just reverse things by picking up the same piece of burning coal. That is insane.
-------------

Its not the the blood the Mosquito sucked from you that gives you Malaria, its the Malaria parasite that it injected in your blood in the process.

Burning Coal?  Coal don't burn by itself.  It needs oxygen and heat (coal  is fuel).

What do I mean - Using the above example does not capture correctly what you are trying to put across.  Re-denominating the Naira is what CBN is talking about not re-valuing it.

I have been going through responses to this issue with complete amazement.

In fact, it is very interesting that we can conduct this kind of discussion about such a very important decision of the CBN.  At least everyone is able to voice their opinion and hopefully we all learn more about the whole issue.

This is my opinion about the matter.

1.  It is a step in the right direction, though it is a risky adventure. Particularly, considering the cost and logistics involve in pulling this off, and I am still trying to convince myself if the 'anticipated' benefit can actually outweigh the cost and if some unforeseen issues won't scuttle the whole adventure.

2.  Contrary to what many people believe, there are actually some benefits to this step which include:

a.  Inflation control:  For example, items in Nigeria hardly jump from N1000 to N1014.  Under the new regime with the use of coin, such an item will cost N10 and can easily be N10.14k.  The point is prices of things change but the increment is actually tied to the currency denomination available.  Items can now change from 5k to 6k (that is N5 to N6 as of now which not possible, it will rather jump to N10).  This is a very positive development because with low inflation, you get a stable economy, with stable economy a lot of good can follows.

3.  Making Naira a reserve currency:  Though I am still contending about whether the only way to make Naira a reserve currency is by re-denomination.  Many of us will agree that Nigeria ecomomy is growing and Naira is getting stronger.  If this trend continue, the strength of naira can actually erode the value of our hard earned foreign reserve.  For example, if Naira is N50 to $1, getting N200 from our foreign reserve will require $4.  If naira become N40 to $1, we will then need $5 dollar to get the same N200. So this step give more value to what we do locally and make the country itself,  goods and services a good value for money in the international market.

4.  Compact Economy:  With manageable amount of currency in circulation, it actually enhance compact economy management on the part of the regulators, the effect of which definitely filter down to the other arms of the system in line with policy and decision of the economy regulators.  It is not just about removing two zeros.

5.  Improved Currency Span: Once we start using coins, life span of our currency will definitely increase reducing how much we spend on the long run on printing and replacing old notes.

6.  The Percieved Value & Strength:  Holding N1 coins definitely gives it more perceived value.  More like hold a pounds coins.  This psychological effect is good because it tends to equate N1 coin to N100 and actually help in achieving better purchasing power for the N1.

I believe there are economist out there who can analyse the issue in more detailed but this is my opinion.

You've got a terrible friend.

It is wrong and so the answer is NO.

Things can happen that make us angry from time to time but, the mature mind always find a way to suppress
it without resorting to fisticuffs.

Advise your friend to find a way to deal with his anger in a better way!.

@Everyone

Its really painful the kind of experience some people have had using ATMs in Nigeria. But I plead to you all, do not let us throw away the baby with the bath water.

First ATM (according to history) was first deployed by Barclays in London in 1967 but didn't really gain wide acceptance until mid to late 1980s, that's about 17 years.  This can be attributed to some of the teething problems we are having now too. But in the end, its a worthwhile adventure.  

Having said that though, the technology available to us today is far more superior to what obtains then, and in fact, that's what made it possible for us in the first instance.  Some people will argue (and quite rightly) that with better technology, we should not have the problems  we are having now, but believe me, there is no substitute for experience. All these experience are going to be ploughed back into improving the system over time.

One thing that is particularly distressing (people's comment), is the response by some banks.  We could do better with an improved bank's response.  Perhaps (and this is my personal opinion), a kind of NCC way of reporting thing like this can help.

In the meantime, I will implore people to continue to use ATMs.  But in the meantime, to be on the safe side, lets try and use it for transaction which is a small fraction of our account balance.  In that way, if anything goes wrong, one will not be down and dead broke while the situation is being looked into by the bank.  I mean for example, I could use ATM for transaction of 10K if I have 40K balance in my account, but I probably will go into the bank to take 10K if my balance is 15K.

@naijacutee

You got a point, but we must not dwell on the negatives too much otherwise we won't do anything.

Seun is right, problem solvers are always needed. Also remember, we are not trying to compete with India here, we are trying to solve business problem, and create a reputation for ourselves.

@initiator

Good point.  The marketing team that will target the offshore companies.  But I think assembling the development team, getting the company up and running is the biggest challenge. We need to have something to offer before marketing.

@All

Our limitation in pulling this off will be determined by the development team assembled.  Here is the big questions:  How do we go about this?  We can have developers volunteeering, or willing learners etc etc, but how do we all get together, give a kind of structure to what we want to do, establish an envronment for the company, and how do we sort out the bills side?  I'd particularly like to know what obabs think about this part of the issue.

She taught me not everyone will be like me!