₦airaland Forum

Veecovee, what are we eating today? Don't tell me no food for today o. Good morning

onegentleguy:
One word; FANTASTIC !!
Rake-off the few worries in this financial print, and this coy would still be pegged as the cheapest banking stock on the exchange at the moment.
Away from the banking segment, CAVERTON still retains my pick as the best coy overall right now !!
With ACCESS, the post above still stands with FVE now reviewed upwards.

A good wine they say, needs no bush. ...time will always almost put things in their right perspective !!

It is well.

Thanks. Been a while Bro... Cheers!!

currentprice:
bolded is one of the reasons many pple reduce posting here. u give a honest advice pple go jump from nowhere attacking u. to make joke self they tag it as enemy of progress.

Abeg, dont listen to them. You know those that read your post. keep posting for those people abeg.

I personally observed that most people that engage in such tussles have offered me little or nothing. So as a culture, I abstain from mentioning them...! End of story.

OakPearl:
If you are a jijoist, here are your sure bets:
Dangflour - Ji N8, Jo N10 (Currently on full bid inspite of unimpressive FY result)
GTB - Ji N33, Jo N35
Nascon - Ji N18, Jo N20
Transcorp - Ji N1.16, Jo N1.20

Repeat process all year round, smile to the bank.
Simply my opinion.
Not a jijoist.
DD advised.

Nice one, but if you do meritrade like me, all that gain will be commission. That's why we watch like eagles.

Where are our TA guys, indecision time is nearby.

Mcy56:
No insurance result yet.
Come to think of it, is it that they prefer to pay fines on top the small gains they made or what?

Financial Shenanigans

jauntty:
Good morning bosses in the house

Please someone should suggest a good phone/Tablet that works with with iTrade and Meristem app.

I want to be able to monitor and execute trade at work or in transit.

Max Budget : 100k

Thanks

U r funny... Any android phone that can install Google chrome is good enuf. IMO u really don't need the app. Don't make it a big deal. I have traded on Samsung S4 and higher.. Infinix... Nokia 5 and higher... HP... Even Gionee kwa. If u r a newbie ur body will be doing u to keep looking at the order book 24/7.

Hope u have more than 100k to put in the market?

..

mendes911:
I was only saying that forum members don't refer to Elliott Wave's anymore. Some members used to quote wave 1 to wave 4 up and down. Been long I heard from them. LOL.

True. Elliott wave is best with a TA guru in the forum. Our TA guys seem to be offline for now. Even Oga Agba rarely shares TA these days. I wish someone can really run some diagnostics on the ASI because the main confusion will start from next month when people will be believing again.

arduino:
Yes oohh.... Am using Unity Bank to learn the ropes on how to dine with the great white-sharks of NSE.

Why na... The herbalist that did it for Diamond bank faithfuls did not leave his manual before his demise o.

OBAGADAFFI:
GlaxoSmithKline Consumer Nigeria Plc has selected Fidson Healthcare Plc as its preferred local contract manufacturer effective 2021. Details shortly


https://nairametrics.com/2019/04/12/gsk-nigeria-picks-fidson-healthcare-for-contract-manufacturing/

Abeg what does this imply... Fidson used to be my first love...

DeRuggedProf:
First Bank Restricts Sale of Shares at Stock Exchange
https://businesspost.ng/2019/04/11/first-bank-restricts-sale-of-shares-at-stock-exchange/

Where is their FY18 result?
This is evidence that FY18 is not fantastic.
Forget the holding structure camouflaging rhetoric.
The day FBNH has a fantastic result, they will be the first to release results.
They just want to use UNAUDITED (IMPREGNATED) Q1 figures to mask the share price.
The same old signature ......

Welcome

Mcy56:
Dont mind him, who go luv Sniper? He's same person as Python. He's dangerous, I never ready to die na.
Na you be my one and only luv........for now.

Don't allow Gonfree to place bid for wapic instead of Wema o

OakPearl:
.I can't agree less on the bolded.
The irrationality of the stock market is universal and not peculiar to the NSE my brother.
The reason is not far-fetched: a common denominator rules them all- human psychology.
Na so I log on to my Meristem account yesterday when Morgan had a glitch only to see my Transcorp of those days bought at N6 starring me in the face! grin
Reason why we advocate that investors play safe buying fundamentally sound stocks if they ain't trading.
Some stocks are used as pawns, and as long as you don't have genuine insider info, avoid them or eat with long spoon if you must.
Las las, the chicken will come home to roost...

Transcorpians we hail thee

stcool:
After everything you head at conference call, you still want to buy at that price. Fear God my brother!

Haahahaaa... Village pipo

stcool:
NSE is nothing but a pot of beans...

Is it not the same Sterling bank that almost fell below N1.00, and someone kept mopping it up at N1.00 last year that is now trading @N2.65 above Fidelity and FCMB.

Ok o, God dey and na dem go tire!

After the demise of Diamond bank... The 3 musketeers analogy seems not to be realisable. There are just 2 lonely brothers struggling to make a point in this arid landscape.

I am just expecting news that Sterling bank plans to buy Access bank or Union bank ..

Deadlytruth:
They are actually not members here let alone being newbies. Rather, they are pugilists and gladiators from other sections of NL that have to do with politics and economy. They found their way here through tagging by one of them who discovered this thread accidentally, hence they had a field day on a tangential topic without knowing the real essence of this thread.

That's the deadly truth.

They are not newbies ... It is an argument squad.

GonFreecss1:
I honestly wouldn't mind those guys being here. Argue against their point or for it, those guys made logical sound argument. RabbiOracle and Rebekah too did, the thing is when it comes to the financial market there is no certainty, anything can happen. Time will tell though. So sad I wasn't around.

Very informative write-ups but for me I enjoy these when I am jobless. The pipo that shud be having this kind of debate and enlightenment are busy thinking of how to loot. Don't even tell me that the CBN governor does not know this.. or the minister of finance doesnt... or the senate President doesn't... The only one I can exempt is Oga at the top. The others know all these details.

Mcy56:
Witness?
Me no witness ooo but saw some crossing at 50M and 30M single crossing. There are other smaller ones like 8M and the like, crossed as well.
Doesn't mean it will not retest or does it mean it will retest the junction again. Mr. Market will determine this.

Thanks. I still have time to gather more.

Who witnessed the transcorp crossings..? any large trade or what?? any idea how the vol came?? I missed that part, so one can know if it will retest that 1.12 again??

,

Tolktob:
some Indian investors are increasing their stakes

Once I hear Indians... Just start learning to walk on a rope. If u can walk on a rope then u will beat the Indians to their game.

I still don't know where those guys came from. If they can just apply 10percent of their analysis skill to NSE then we all are in to make millions this year. They all know how to write long messages... They all have points... And yet Bubu is still the president.

The advice from a poor man will ALWAYS be ignored even if it will save the city


Market don open

Mpeace:
Where all this pple follow come?

I no know o but them suppose follow debate with Peter Obi and VP. Enlightening anyway.

omohayek:
The person you've quoted was just writing a lot of nonsense; to see why this is so, let's start with a simple thought experiment. Suppose you have just two countries A and B, each with their own private currencies. If A and B both have fixed GDPs, and both have fixed desires for goods from each other, then under what circumstances could the relative value of their currencies ever change, even when floated? Answer: when one of them decides to print more money than its real growth can support.

If everything else stays the same, but country B decides to grow the amount of its currency in circulation by 10% while country A keeps its own supply fixed, then it should be obvious that 1.1x of currency B will be chasing the same amount of currency A, which will lead to currency B weakening to only 1/1.1 = 91% of its former value against A. Attempting to "fix" the exchange rate by decreeing that the relative value of A to B must remain 1:1 is unenforceable, as the citizens of A cannot be forced to give up their money for less than what they know it's worth, so the only option open to the leaders of country B is to pretend to "strengthen" their currency by diverting their own resources to subsidizing the true cost of currency A for some subset of the citizens of B. Naturally, this means less spending on essentials like education, health, decent roads, clean water, security, etc.

The long and short of it is that the long-term depreciation of the Naira has nothing to do with speculators, and everything to do with a succession of Nigerian governments printing more money than the country's economic growth could warrant, leading to persistently high inflation. If the value of even basic domestic goods is eroded by such policies, why is anyone surprised that the same is also true for foreign goods (or rather, stores of value) like US$? "Strong Naira" policies of the kind favored by Buhari are utterly useless at doing anything other than diverting scarce resources to a few well-connected individuals, who can then make risk-free profits through "round-tripping".

The only way to keep the Naira "strong" over the long term is through sound monetary policies, which means fiscal restraint in the face of public pressures (e.g. for perpetually higher minimum wages for government workers, or endless bailouts for indigent states), as well as policies that draw in foreign investment, e.g. large-scale privatizations, deregulation and a fully convertible floated currency. If decreeing exchange rates were an answer to anything, Venezuela wouldn't have become a basket-case plagued with hyperinflation.

As for the currency-peg idea, many countries have tried that with seeming success for at least a few years, but in the long-term the only ones that have been able to keep with it are those with external reserves so massive they could completely dollarize their domestic economies with no effort. A currency-peg against the US Dollar is basically dollarization without the name, with all the disadvantages that implies: it means giving up all control over domestic monetary policies, which are now set by the US Federal Reserve with only the US economy in mind. Both versions of the CFA Franc essentially do this, except they are pegged against the Euro: this keeps inflation rates in French-speaking West African countries low and their currencies "strong", but the overly-tight monetary policy it imposes has also kept their average economic growth from keeping up with other African countries (including Nigeria before Buhari took power in 2015).

Nigerians need to stop fetishizing a "strong Naira" and instead concentrate on keeping inflation low (but not too low). One of the things that will help achieve this is increased FDI inflows, but this will never happen as long as investors can't be sure they'll be able to take their money out without being cheated. In consequence, Buhari's "strong Naira" policy actually undermines the growth Nigerians want, rather than helping it.

NONSENSE?

courage89:
They made similar arguments 3-4 years ago, Nigeria needs to devalue its currency to attract FDI. We need to devalue to make export cheaper. Loads of bull...What happened to the FDI after we devalue our currency? What kind of FDI did we attract, portfolio or brick and mortar investments? What happened to the FDI after these investors made their returns? Has our cheaper currency helped us to export more industrial goods?

Let's not kid ourselves, devaluation of naira at this point is not in the best interest of our economy. It will create high inflation, high interest rate, loss of manufacturing abilities, loss of jobs and other problems.

To the proponents of currency devaluation, what's the objective this time? To attract short term portfolio, long term portfolio, brick & mortar investments? Devalued naira will only attract short term portfolio investment, which is detrimental to our economy. We're all living witness to the economic effect, cycle and runaround based on what happened to our stock market in the past 4 years.

Our objective should be how to attract long term portfolio, brick and mortar investments. The best way to do this right now is to address factors that lowers cost of doing business in Nigeria. Power, transportation, ease of doing business policies, security, currency stability and others. Our conversation should revolve around these subjects and not currency devaluation. By fixing these problems, we fix our economic problems and others at the same time.

Thanks for this. That's why earning a salary only is like a curse. Imagine if a company does not revalue salaries while the naira is being devalued...

Awesome... momentum seems to be building.

I have started asking the Egyptians for their jewelries. I need to melt and throw all into the market before next week ends...

I have been waiting for this period for a long time... I want uncle Tony to know that Transcorp is for all of us.

heyteaherm:
Currently writing my MBA thesis on devaluation and how it affects the economy and will like to share my thoughts on the argument why Devaluation if adequately managed is actually good for the economy in the long run.

To understand the underlying situation of Nigeria, keeping it simple and first, you must follow the genesis of the problem as below

...

If the exchange was free floating the market forces will determine the rate. Devaluation /currency manipulation works for example in a country like China, where export is high, devaluing the currency will make the value of the exporting goods more attractive and thereby increasing sales and having a positively skewed BOP.
Yes, devaluation for a country like Nigeria with the monocultural economy, the masses will suffer in that the cost of petroleum might increase, which in itself causes inflation as the price of transportation, generating electricity, etc. will increase, this can cripple the economy if not properly managed.
My advice is to devalue the currency, we are financially redundant if we don't, not devaluing is just moving the financial collapse date. Asides from borrowing we need foreign individuals and institution to pump in their forex into our economy. These set of people study the market before getting in, they will make sure the prospect of the economy is at least guaranteed stability for say 5 years, because their investments could have a minimum payback period of 3 -5 years also people want to set up shop where they can stay for many years.

...

keeping it simple.

Ekene Obi
Guru Capital LTD

Nice one. You highlighted several reasons the Naira should not be devalued further. Only some considerations... how would the devaluation affect looters..? How would it affect govt office holders..? How would it affect CEOs that trade in forex...? Lest I forget, how would it affect those that open a savings account for Nigeria at the basement of their house..?

Nigeria economy cannot be written in simple arithmetic, other countries can. The variables associated with the Nigerian economy is unending...

aremso:
oga, any how the lump or whatever you it is sir, am making money from it from time to time. That is their own headache do u think they ever want anything good to come out of our land? I just hope they will not kill dangote in the long run cos he would spoil business for them when his dreams comes tru and it will by God grace so any how they put it, me am making my money in the slippery economy. They wanted the govt to float naira so they can come with their hot money to carry all our cold monies away as one of my ogas here said then they will leave us behind to always mourning our portfolio but when it does not favour them they will look for all the means to downgrade us anyhow to achieve their aim God will see us tru

True as stated. If they are not colonizing a country, this is exactly what they are doing (transferring debts).

Godlylifeoneart:
Coming from World Bank today

https://punchng.com/nigerias-economy-slipping-says-world-bank/

This lump called Nigeria. Giant of Africa. Interesting computations by World Bank presented the way they want it to be. I always have my reservations with their presentations of African economy.

Godlylifeoneart:
Yes... We are in for a long heamorrhaging, fluctuating activities on the Nigeria bourse.
However, the light will surely comes at the end of a tunnel.
In as much, the Nation is not at war, there is hope for the people that can hold their portfolio in fundamentally sound companies.
The saturation kinetic of money will catch up with the emerging economy and the hot money will find its way to Nigeria, the selling point of Nigeria economy might end up being the young population. Investors must serve this young population. As for Buhari he dictates what he want... In 4 yrs no new oil block, all in the name of fighting corruption
Bubu was so meant, he stiffened the banking industry of government money by aggressive implementation of TSA.
He is unconcerned, provided, the foreign reserve is growing reasonably and the naira remains at sub 360/$
and PMS remains at sub 150/lit.
To bubu, this is more than an achievement.
In my view, Nigeria must be ready to embrace more shocking news from bubu.
The Chinese and the Indian investors we all detests are the most likely people that will eventually buy most of the healthy companies in Nigeria.,
Since the American refuse to come, rather they are leaving, Coz they seem to know the future more than the people and government of Nigeria due to their faith in Research and development.
You can count how many America companies that have left Nigeria.. I know of
Pfizer
Conoco Philip
HSBC
UBS
JUST TO MENTION A FEW.
The outlook of bubu 2nd tenure is bleak in economy term.
Noone prayed for a sudden drop in international price of crude oil, the effect would not change anything. Nigerians have seen the worst during the Abacha Era, we can't give up now that a herds man is driving us to an unknown destination. We are on board with the FGN, let them continue, we will survive with determination perseverance, steadfastness and resilient. No shaking... The chinkos are coming with petro dollars... Sowwy chinkodolla. The only language the Nigerian economy understands.
Finally.... Accumulate, Accumulate, accumulate more units of well capitalised companies. If you can borrow to accumulate more, I advise you to do so. The gain is coming soon. Indo/chinkodolla is on the way.

What will they do differently? They all know the problem that exists in Nigerian Economy. With a clear knowledge of these challenges, the Chincos either come to further impoverish or rip. Never forget that the sole purpose of HOT MONEY is to starch cold money and carry go. On the sideline, to a layman, solving Nigeria's problem is not astronomy nor radiology. It is basic, use the money for what it is supposed to be used for.

ndidigood:
Mr.Catapult or...?leave us alone to mourn our portfolio in peace.

How did you even think of catapult....

Dont tell me it is from capitulate...