Hi all, a little digression: I was sent the employment ad below and just thought to quickly post it here (I know, I know, this is not the job section _{yeah, yeah}  )

_{**disclosure: I don't work for the IMF, don't intend on working there, don't know anyone there and don't even come close to possessing the work experience this ad demands -- I guess the sender just wanted me to pass it around . . .**}

Here goes:

http://www.imf.org/external/np/adm/rec/vacancy.htm#R08649A
Director, African Department
The Director of the African Department holds the top position overseeing the IMF's relations with 44 of its Sub-Saharan Africa member countries. The Director works under the overall guidance of the Managing Director and in close collaboration with other members of the IMF's top management team, and is responsible for providing strong intellectual leadership and strategic vision in planning, managing, and supervising the work of the approximately 200 staff members of the department. The Director will also be responsible for further developing the Fund's strategy in Africa.

The African Department's primary functions are: to advise management and the Executive Board on matters concerning the economies and economic policies of all 44 Sub-Saharan Africa member countries; to provide macroeconomic policy advice to these countries; and to implement IMF policies with respect to these countries, aimed at promoting and preserving macroeconomic stability, and improving the conditions for sustained economic growth.
Summary of Duties and Responsibilities:
The African Department Director will carry out his/her responsibilities by:
•       Providing strong intellectual and strategic leadership on economic policy issues in the context of the IMF's link with Africa.
       
•       Keeping abreast of economic, financial, and political developments in the countries, and advising on economic policies within its area of expertise;
       
•       Conducting the Fund's business with these countries through periodic consultations with the individual member countries, the negotiation of programs involving possible access to IMF credit or loans, and the review of performance under these programs;
       
•       Playing a leading role in the formulation of IMF positions vis-à-vis these countries in such matters as the IMF's monitoring and assessment of economic developments and economic policies, and access to Fund loans;
       
•       Assessing technical assistance needs of member countries, and, in a few cases, participating directly in technical assistance projects;
       
•       Assisting member countries in the formulation of strategies for poverty reduction and economic programs supported by the Fund's Poverty Reduction and Growth Facility;
       
•       Participating in multilateral debt relief activities, particularly the enhanced Initiative for Heavily Indebted Poor Countries and the Multilateral Debt Relief Initiative;
       
•       Collaborating with the World Bank, other multilateral institutions and bilateral agencies, and regional organizations in Africa; and
       
•       Consulting with official and private creditors on the financing of economic programs and the rescheduling of external debt service of member countries.
               
Qualifications:
Applicants should have at least 15 to 20 years of extensive and strong operational and policy background in macroeconomic management.
•       Proven ability to provide intellectual and strategic leadership for the Fund is required. Specifically, the candidate should also have a demonstrated track record in strategic thinking, planning, organizing, delegating work, and staff management.
       
•       Substantial experience on African economic issues is highly desirable.
       
•       A strong capacity to promote change and foster close and effective cooperation with the Executive Board, management, departments, and staff is essential.
       
•       Excellent communications skills are required, and the ability to function in both English and French would be an advantage.
       
•       Strong familiarity with the work of the Fund, or of similar institutions on policy work experience and the international economic environment is required.
       
•       The successful candidate should also have a proven record as a team player and the ability to work effectively in a collegial environment.
       
•       Strong interpersonal, negotiating and influencing skills, and the ability to manage and effectively resolve a variety of organizational HR issues.

To Apply: Visit the IMF website
Candidates meeting the qualifications are invited to apply online by April 04, 2008. Vacancy No. R08649A

blueband:

Something is just not right.AFROIL and CAPOIL traded today again.A spineless SEC?

Nope, a TACTLESS SEC. Did they expect the NSE to act based on what was communicated to the press and not to the NSE officially?

mecatchcha:

I dey see am too. That's very unfair. When Transcorp had problem, Auntie NDI protected them by suspending the stock from further trading. How come she ended up not doing so for Afroil and Capoil? Well, not that I have any KG's there.

I guess the SEC has not officially communicated the decision to the NSE and so the suspension cannot be put into effect yet. It'll be interesting to see the interplay between these two regulators as they had been on a collision course from the time the SEC announced that they were investigating certain stocks. I must say that the SEC was quite tactless in going to the press first before going to the NSE, which has the power to suspend trading in a stock.

On another note however, I doubt that the SEC can credibly pull off the indefinite TS for the reasons they've stated, without drawing a lot of outcry. If the reason for the TS is that the companies in question had their share prices rising at a time when they were neither operating nor releasing results, I wonder why the shares of a company like Transcorp -- who has never released a single result even after doing a PO, and has not even intimated its shareholders of when they can reasonably expect to see any financial statements - should be allowed to trade freely on the floor.  A situation like that is a lot more egregious, and I seriously struggle to understand the SEC's obsession or fascination with the other companies in question, who in comparison to Transcorp do indeed look like saints.

Just from a cursory look at the various articles addressing the subject, it also seems (at least for afroil) that the events that the SEC is making reference to happened in the past. In the light of that, the decision to suspend trading in the shares doesn't quite make sense, especially since the company is currently in operation. Are the current shareholders to be punished for the past "sins" of the company, especially after the company has since restructured and taken on a new BOD? It'll be interesting to watch how these events unfold.

_{Just by way of disclosure, I was able to get out of afroil today -- the number of units was minuscule anyways . . .}

shigidi:

WINDY WENDY, I HAVE BIN LOOKING FOR YOU LIKE MAD. i have tried to see the upside of abc transport but fundamentally it is crap. please now tell me, why do u support it so much and what is your target exit, i would love to hear from you on this one. please holla

I think it was roughcut and grabdaloot that made a lot of comments on ABC. I've got to run now and so can't comment much. But the basis on which I entered the stock (and unity bank as well) was the valuation I got based on projected return on equity. I didn't bother using projected P/E because a lot has changed for both companies (esp. unity bank) since the last time they posted results -- new business, news of streamlined operations etc. With ABC, that coupled with the rumors of PO and bonus convinced me to buy. I'll be holding until sometime in May or June, unless I get any red-alert.

@all: i've been trying to catch up on previous pages, but finally gave up after reading a lot of distressing stuff. So pls if any questions had been directed to me, no vex o. I'm sure others on the forum will have helped out one way or the other. I dey extremely busy these days, no be small.

loma:

The guy also owns 40% stake in Premier Paints.

@Windy Wendy- Where is Kola going next   No tell me say you no get crystal ball o!  Just dig like you always do maam!

Not too sure about the answer to that question but if you read between the lines of all these articles, it would be easy to see that people are snapping up companies that could potentially service key sectors like the telecom, power and construction sectors -- niwicable, nigeria ropes (telecoms), ABB, etc etc. I learnt of the nigeria ropes last week and was able to get some on the floor. I won't be surprised at all if the news about additional investment in niwicable turns out to be true. I also won't be surprised if something akin to the local content policy in the Oil and Gas sector gets implemented in the telecoms sector as well. I know for a fact that IFC is investing heavily in the mortgage sector through banks like FCMB and GTB, and also through uac properties (this one happened mid last year), so you can expect a boom for the construction sector and all others that service that sector. You decipher the rest.

invisible!:

@windy, no just try to frighten me about transcorp o. I loaded that one for a quick CICO, as you come dey suggest they should be suspended made me abandon my dinner

Abeg no let me sell in a hurry, chei! to make money no easi at all, except for Easimoni

Frighten you ke? I'm just anticipating what their next action could be, going by what they're currently doing. It's a good development no doubt, as this should make the playing field more level. But I must confess sha, all their inefficiencies helped some people make some serious money. Now that they're waking up small, small, we just have to devise smarter ways of making money -- at least until they wake up fully (whenever that would be), then the field will be completely level.  

beginner:

I changed tactics a bit o when the fundamental stocks refused to move. I can only hope for the best.

Yes. And now that it seems like the NSE and SEC are beginning to wake up to their responsibilities, it's looking it's time to change strategies again. _{OMG, I love this game!!}

beginner:

WindyWendy

I am hands and legs in this one o. My main concern is that according to the guardian newspaper Afroil (the only one I have) is not in business. I am therefore not sure where the results are coming from. Anyway I have learn't a big lesson.

You bought afroil? I thought you were a fundamentalist to the core and didn't do cico  

Seriously, I wouldn't worry about afroil. You google them yourself and if you're in lagos, you can confirm for yourself whether they're in business. The worst case scenario is that we wait and see how this plays out! I honestly wouldn't panic about this seriously, _{and it's not just because I have a small number of units there.}

grabdaloot:

costain - construction
Nigeria ropes - ropes
ABB - electricals
Alumaco - Aluminuim products (windows doors etc)

all key industries in home building,

Seems to me these guy is aquiring all that has to do with building construction. So I dey find shares for nigerian tiles and empire carpets   . But seriously seem this Kareem guy is seriously repostioning for the building industry so. Let us at least put some constructive use to this our dear thread. I am looking at the paints that is chemical sector but it seems that some peeps have already beat me to it (IPWA and BERGER). Wanaj0 and aktopgun I go leave una to look into this one more closely. You guys seem to have more on the behind the scenes glimpse. I can bet there will be more acquisitions to come especially with industries that have to do with building construction. Could this have something to do with the expected new policy from the FG on housing policy hmmmm,

I would be careful about IPWA for the same reasons that it seems capoil and afroil are suspended.

@all: my broker was just informing me that trading might (or has) been suspended as far as the shares of afroil and capoil are concerned, because they've not released results. I'm not sure of the full gist, but will look it up tomorrow.

Hmmm, I did cico with both stocks. I only held capoil for 4 days because I thought it was highly risky and I noticed that the number of deals were getting too small after a point -- which suggested to me that most of the trades were probably just cross deals between people trying to manipulate the price. I also got out of afroil substantially but still have a very small number of units (46kg) there.

So what's the game plan, going forward? I personally wouldn't worry too much about afroil really, because I know for a fact that they're releasing results soon, which according to grapevine news is expected to be good. This is not a buy recommendation. As for capoil, that one is highly risky as there has been too much controversy around that company. If you can get out of capoil please do so. And going forward, I guess the lesson here will be if you must do cico with very highly risky stocks, clear out your positions prior to a holiday/weekend. And of course, align your risk appetite with your investments (I think Wanaj0 has over-emphasized this one to death already).

I wouldn't worry about the other stocks that were being investigated on Feb. 14 either, unless there are others that have not released results to date -- since this is the reason NSE is slamming the hammer. So I wouldn't worry about BigTreat, Fan, AP. However I would worry about IPWA -- again this is not a sell recommendation, and I don't have IPWA. From the latest moves of the SEC, I would advice again, like I did last week, that peeps realign their portfolios and move into fundamental stocks -- at least until we figure things out more clearly.

Having said all of the above, perhaps we should again expect a full suspension on the share price of companies like Transcorp since there's nothing to back up the price movements   All this is just my opinion o! As usual, caveat emptor!

Hi guysssss ,











Bye guysssssss
_{been extremely busy, will catch up and post later!}

RoughCut:

Make i speak english now; it was a stalemate but because it has now formed in the context of an uptrend as seen by yesterday's pattern it may signal a continuation of what we saw today because it means at some point the sellers will overcome the buyers and the price may  retract further.

What you said would have been correct yesterday

I had to speak the long grammar because i thought it was easier than drawing the picture i think you will find its probably on a weak bid or offer

Ok now I get you. We'll wait and see what gives by Monday.

dvonne:

Abeg Aunty wendy ,
Please help me ,
home is far from here
and i just got my student loan
i need to do some cico with the loan please
before paying it.
i am in the uk, please please please mail me your your broker no , dvonnemartin@yahoo.co.uk
and some tips

Please don't let me suffer o

seriously, "windywendy" is just fine, no prefixes, suffixes or addendums  

My brokers are BGL and FSDH, don't know their numbers by heart -- the numbers dey my speed-dial -- but you can google them and find the numbers easily.

About stock tips, hmmm, with your student loan, you'll have to be really careful. I'll advise you only invest in fundamental stocks. I already recommended Ikeja hotels. Beta Glass is another good one, if you can get below 25.

@Spitzer, no problem na, you can still use your contacts to give the bus contract. Only that we won't allow that escort biz o. Abi you wan come add gas to already raging fire?

I never ate bread o. Na only bagels I like. I didn't buy bigtreat because I was already in afroil. But if I did, I would have off-loaded this monday at the latest. I recommended it over a week ago, and all these cico recommendations have very strict expiration dates o, esp for fundamental-less stocks. Caveat empty plenti there well, well.

@Roughcut, from my analysis of ABC's trading pattern today, it looks like the stock had more buying pressure than selling pressure. Is that the summary of all that grammar wey you speak just now?? _{me no too understand spinning top and japanese}

Spitzer:

@WindyWendy,

I might be needing an advocate. Your skills _{[size=4pt]on the other thread[/size]} may come in handy!

BTW, the bus had an accident today, is it repairable? Some of the money I did not spend on Dupre was used to board the bus,after I left New York. Am I safe?

Anyone need suggestions on relaxing for the weekend? Contact me. It has nothing to do with spending $4000 o!

Sorry, I don't advocate for two-faced XXXXXXX (you fill in the blanks)   , not especially the one that cost wall street investment firms a lot of quid during his AG tenor   _{but i really feel sad for the guy sha . . .}

Watch that bus accident closely, it was a simple fender-bender. And if it wasn't, then we'll be needing to load up some more.

Chei, i'm just seeing today's results.

Oya o, all ye FAN-ites, time to bail o. On your marks . . .

_{and I was just telling my broker yesterday that sellers will bombard the thing today o.}

®~^Sly^~®:

Samstone4
Lol. . . . .Nice one. . . .see ya around and keep up with the logo. . . .
Its time to imitate now

Sly. . . .

This one na "made in Taiwan" immitation _{what's with the double dots before and after} . Nice one though

mecatchcha:

Aunty Wendy,

Abeg, na my own schools fees be that, not for my pikin them. If cico go fit dey return 10% for my investment every week, I fit shun school be that ooooooooooo.

Afterall, person dey go school in order to start making money. What waste all the years and time.

So Aunty, advice me on stocks to buy. "TRANSCORP", "NIWICABLE",

Na your own fees abi, Ok now we can start talking  

I made up a quick list of 6 cico stocks yesterday (based on quick TA review), some of which are terribly fundamenta-less (as you can imagine, you'll need a serious "agbero" broker for those). They included: academy, dunlop, utc, livestock, afprint and conoil. I haven't done any further research, so you'll need to do yours.

I don't know nothing about transcorp o, that one defiles all analyses . Niwicable looks like it's bottomed out -- based on what I saw yesterday, I actually expected it to rise today. Caveat plenti o.

@Roughcut, you sef go do tatafo for the other place abi   Anyway, I don tell you the thing wey go make me yab you pass for this thread _{hint, hint . . . the alphabets}  

orisebawo:

If na your school fees money you fit defer payment small if them no go charge you pass 5% for 6 months,then speak to FO2 and aunty wendy make them teach you how to make 50% in 5 months, but if na pikin school fees, e go beta to pay the fees sharp sharp, go find overtime job to take invest oh

Hmmm, if na pickin school fees you wan take do cico, make you no venture near my side o, because na serious "talk to the hand" I go give you one time

Ladies and Gentlemen of the forum, introducing . . .

UNITED NIGERIA TEXTILES PLC
3RD QUARTER STATEMENT FOR THE
PERIOD ENDED SEPTEMBER 30TH 2007
                        2007          2006
TURNOVER                 N13.866b      N13.583b
PROFIT BEFORE TAXATION  (N755.698m)   (N56.648m)
TAXATION                  NIL           NIL
PROFIT AFTER TAXATION   (N755.698m)   (N56.648m)

This result bad no be small.

A friend of mine wanted to do one quick cico on this stock last week, na so I come warn am say "results will be out soon, and I don't expect the results to be good o, so stay clear"  . In retrospect, I guess I was right. _{Wey my phone sef, make I go collect my bottle of wine  .} But then again, with this NSE sef, the stock price might still keep moving up despite the result.

@Mr. Risky, Mr. Risssskkkyyy . . . why do you need to have a healthcare stock in your portfolio eh? I don warn you before before say make you divorce your emotions from stock market investing o. It's not like the stock is going to say to itself "ahem, Mr. risky has me in his folio, so I better perform" Stocks don't care about you (or anyone), so it'll be a good idea to return the favor. Buy only what meets your objectives and sell what no longer does. Hmmm, na my own advice be that o.

Happy weekend everyone!

@Mr. Risky: many aspects of that Afrinvest market report don't make sense in the context of today's price list. Abi am I looking at the wrong list?

@all: today's busy, hence the epileptic posting.

Got this from proshare and thought to share: Has to do with stockbrokers minimum capitalization

Citing alleged non-compliance with protocols and other due processes in the recapitalisation of stockbroking by the Securities and Exchange Commission (SEC), the Senate Committee on Stock Market has directed that further actions be suspended on the matter.

In a letter addressed to the Director General of SEC, the committee said the commission has no right to bar registrars from handling the register of their parent companies beginning from the end of this month.

The committee's chairman, Ganiyu Solomon said:
"We write in respect of the Commission's directive barring Registrars from handling the register of their parent companies from March 31, 2008 and the directive on the recapitalisation of stockbroking firms. While we appreciate the Commission's drive and initiative to sanitise the market and create an effective level-playing ground, we wish to make it clear that the committee has not been adequately briefed in respect of the directives by neither you (SEC) nor the Ministry of Finance."

He continued:
"We are of the opinion and firm belief that rather than read about the policies of the Commission and subsequent reactions that trail them on the electronic and print media, the committee, as the representatives of the people should have been carried along through proper briefings. In view of the foregoing, the policies should be kept in abeyance pending proper brief with the committee outlining the positions and what adverse effects or otherwise they would have on the operations of the market and the structures put in place to accommodate likely changes. This has become necessary to avert sending wrong signals that would jeopardise the growth and stability of the market or erode investors' confidence."

@greentree, I don forget you patapata. I'll answer that your question from two days ago. No vex o, abeg.

@Pumping, M&B's forward P/E is like 48 o (projected PAT of about 250, which I believe is fair)! None of the health sector stocks have great fundamentals. Neimeth was good for a 20% cico (like 15% post commission) between last week and early this week tough, but I won't invest in any of those medium term o, unless there's something good in the offing.

@Fatherof2: Hmmmm, anyway I no get comment   Welcome back -- it's really good to have you back!

@loma: you sef be tatafo. Wetin you waka find there?

Speaking of footware, I hope whoever bought for cico got out on Monday o. Chei, I forgot to give the sell warning on the forum . Cico recommendations get strict expiry dates o, especially if it's a fundamentaless stock.

pumping777:

Crusader ke? With all these bleeding in the insurance sector, I think Crusader will have a tough time if it came off TS NOW. The price at which it went on TS may not be realisted after a while. Moreover, it is on TS already, so why the interest? If you are looking for post TS bull run in insurance, go for Standard Alliance.

Aiico is still worth looking at since it might even drop further. I definitely prefer this to Crusader right now and it is TS free.

@dollyp, Pumping has a point here o! I haven't been looking at the insurance sector lately, so na "minie, minie, manny, moe" I just talk before picking crusader  . Looks like aiico is a better investment choice then.

dollyp1cute:

Pumping talk to me now

AIICO vs CRUSADER

I say . . . CRUSADER!!!

what chu say Pumping??

pumping777:

Chei!!! Who wants IEI?? For dash?  

Me, me, me  , pick me   We kuku get the same broker, so you can cross at no cost to me -- you pay all applicable fees _{na "free" you talk abi?}  

crazyT:


@Windywendy and Dollyp1cute


Wetin bi the problem for the UNITY sef? The thing show sign say the storm is over yesterday but he bi like say the storm for UK and Europe caght up with am today

Don't know why the stock has been behaving the way it has but you need to be patient with this one. It  had been mentioned several times on here  that this is a speculative stock, so you be prepared to wait until it offers what it has to offer -- i.e. financial results. If after results get released you're still not impressed then sell and move on.

windywendy:

Errmmmm, "windywendy" is just fine, no madam, sister, uncle _opps, etc etc  

OK here's the deal with these portfolio managers (esp. the pension fund ones). They're supposed to invest only a small portion of their portfolios (maybe 20% or even less) in equities and the majority in fixed income and other products. The problem is that most of these non-equity products don't deliver returns like equities do. So the portfolio managers over-invest in equities and correct that when it comes close to reporting season. So sell-offs can occur in the equities market with money flowing elsewhere.

I forgot to add a caveat here. The only exception to the above explanation would be if there were a major catastrophe that's causing capital flight to safety. And there isn't any, is there? _{haven't been following up on naija politics lately}

@blueband, this your hatred for cashcraft is "ga ju" Don't  you think it's time to forgive them and change your signature? _{just a fly-by thought}  

eniyanman:

@madam wendy,
if this na window-dressing, I for think that as them dey sell some stocks, them for dey buy others. i.e. some will fall and others rise. there seems to be a downward trend? maybe they haven't started buying.

Errmmmm, "windywendy" is just fine, no madam, sister, uncle _opps, etc etc  

OK here's the deal with these portfolio managers (esp. the pension fund ones). They're supposed to invest only a small portion of their portfolios (maybe 20% or even less) in equities and the majority in fixed income and other products. The problem is that most of these non-equity products don't deliver returns like equities do. So the portfolio managers over-invest in equities and correct that when it comes close to reporting season. So sell-offs can occur in the equities market with money flowing elsewhere.

Why all the panic in the house? I don't get it  . So prices are falling, it's not like it's the end of the world ke. Most portfolio managers report quarterly and will be rebalancing their portfolios for window-dressing purposes, after which it would be business as usual. My only advice would be to get out of fundamentaless stocks for now, unless of course there are rumors (but then again, this is highly risky if your broker is not the fast type). But buying or selling in a panic is always a bad idea.

@Wanaj0, which one is Food Concept again?

Naijadr:

UBA daily stock position

Thanks! Chei, looks like the bears are back in town. Oya o, everybodi, back to fundamentals sharp, sharp _{lest those spreadsheet profits begin to dissipate before your very eyes}

yodiyokun:


Whats the romance with this stock sef?

Abi o, my sister. Help me ask wanaj0 and Pumping. The yeye stock no come get volume sef But sha o, tomorrow would be a good day to do cico on this one o. Looks like it ran out of selling steam today Abeg wey my phone make I begin dial my broker _{I dey go come}