YOU ARE YOUR WORST ENEMY
Many times, we loss money in the financial market due to our own personality. You may have the best strategy in the world to make billions of Naira in a single trade, but if your personality is wrong, then that will make it difficult for you to make desired money in the market. These personalities include:

-Over confidence (Ego)
-Lack of discipline
-Easy to bore
-Lack of patience

So, study your character and analyse yourself (instead of analysing the market) and protect yourself from yourself as nobody else will do it for you.

BullBearMkt:
YOU ARE YOUR WORST ENEMY

-Over confidence (Ego)
-Lack of discipline
-Easy to bore
-Lack of patience

i'm perpetually observing myself loll !

stcool:


After this your post...I knew you don't trade with ordinary hand. The gods are involved (Just kidding).

Anyways, for ConOil my avg. purchase price is N40 and If it goes down to (N)20-25 I add more ahead of dividend next year! Shekena!

But nobody can truly say why the stock is sliding down. I think it is beyond the sentiments we are expressing now. Conoil share price rose 100% after it declared dvidend last year. This year, it is been bashed right, front and centre. I think we will know the true worth in the next 6months. Let's see w

stcool:


After this your post...I knew you don't trade with ordinary hand. The gods are involved (Just kidding).

Anyways, for ConOil my avg. purchase price is N40 and If it goes down to (N)20-25 I add more ahead of dividend next year! Shekena!

But nobody can truly say why the stock is sliding down. I think it is beyond the sentiments we are expressing now. Conoil share price rose 100% after it declared dvidend last year. This year, it is been bashed right, front and centre. I think we will know the true worth in the next 6months. Let's see what its q2 will look like as it is likely to give an idea of the company's direction.

PharmAlfred:



But nobody can truly say why the stock is sliding down. I think it is beyond the sentiments we are expressing now. Conoil share price rose 100% after it declared dvidend last year. This year, it is been bashed right, front and center. I think we will know the true worth in the next 6months. Let's see what its q2 will look like as it is likely to give an idea of the company's direction.

For ConOil the bad news I am aware of is the litigation's against them in the lower court .While we await the judgement of the supreme court, my investment strategy is good for ConOil. My average purchase is N40, so if it gets down to 20 I can average down to N25 ahead of next year dividend. If Judgement goes against them, which is worst case scenario and I still get N3 dividend year end, then I don't think I have made a bad investment. What if Supreme court throws out the lower court ruling?

stcool:


For ConOil the bad news I am aware of is the litigation's against them in the lower court .While we await the judgement of the supreme court, my investment strategy is good for ConOil. My average purchase is N40, so if it gets down to 20 I can average down to N25 ahead of next year dividend. If Judgement goes against them, which is worst case scenario and I still get N3 dividend year end, then I don't think I have made a bad investment. What if Supreme court throws out the lower court ruling?

Unfavourable judgement will not threaten going concern of the business...I even pray this happens ( plantiff winning the case) so that I can load more as a value investor. In the same vein, I am waiting for O and O at the right junction then, yours truly will load more...Trust Wale and his gang you can't beat them to it..Original cowboys...

BullBearMkt:
YOU ARE YOUR WORST ENEMY
Many times, we loss money in the financial market due to our own personality. You may have the strategy in the world to make billions of Naira in a single trade, but if your personality is wrong, then that will make it difficult for you to make desired money in the market. These personalities include:

-Over confidence (Ego)
-Lack of discipline
-Easy to bore
-Lack of patience

So, study your character and analyse yourself (instead of analysing the market) and protect yourself from yourself as nobody else will do it for you.

All these are applicable only to short term players and not long term investors....However, Almost including you bullbearmkt is guilty of the last one...I think this can be managed if relevant information is available to someone...for instance, an investor with info about the last M&B rally would have started mopping up when it was trading at below N1 and PATIENTLY waits for the expected time to pull the trigger...So, scavenge for information, calibrate it and make investment decision then one reduces the risk of impatience. .

Coolcash1:


Unfavourable judgement will not threaten going concern of the business...I even pray this happens ( plantiff winning the case) so that I can load more as a value investor. In the same vein, I am waiting for O and O at the right junction then, yours truly will load more...Trust Wale and his gang you can't beat them to it..Original cowboys...

This is the point...you have said it all!

Well, let's not get the concept of long term twisted. Long term is at least 3 years, if you have bought a fundamentally good business at a good price or better still discount from value, you will win in the long term doubtless.

nio68:
Bought conoil shortly before I went on holidays, didnt follow the market while I way away ... came back to realise I have lost about 30% on conoil . na to sit tight with this one ... felt bad though.. normal me would have exited since... just 2 weeks of not following the market and see the damage ! those who buy long term I wonder how you profit ...

stcool:


For ConOil the bad news I am aware of is the litigation's against them in the lower court .While we await the judgement of the supreme court, my investment strategy is good for ConOil. My average purchase is N40, so if it gets down to 20 I can average down to N25 ahead of next year dividend. If Judgement goes against them, which is worst case scenario and I still get N3 dividend year end, then I don't think I have made a bad investment. What if Supreme court throws out the lower court ruling?

Buying conoil at N40 in the first place represent an investment decision with a very big risk. As a fundamentalist, your entry price is one of the most important thing.
I will advise that you study conoil results for the past six years as this will help you to understand the company better. There is no guarantee that conoil result will be good next year.

"Aluko and Omokore are alleged to have paid bribes between 2011 and 2015 to then-petroleum minister Alison-Madueke who ensured that shell companies owned by the businessmen received billion-dollar contracts to sell Nigeria’s crude oil".


https://qz.com/1030270/nigeria-corruption-us-wants-one57-funds-from-diezani-madueke-and-kola-aluko/



those two, aluko and omokore......................... remember the story of skye crash and atlantic energy..

pluto09:


Buying conoil at N40 in the first place represent an investment decision with a very big risk. As a fundamentalist, your entry price is one of the most important thing.
I will advise that you study conoil results for the past six years as this will help you to understand the company better. There is no guarantee that conoil result will be good next year.

All investments irrespective of price is risky. I bought ConOil this year after careful study and that was the best price I could get in then, If price goes down the better for me to increase my position in this good company.

For the 5yrs Financials have a good look @ the possibility in this company, both cash flow and dividend payout is +ve .

A company that is sitting on over 42 Billion Naira in cash, consistent dividend, cash reserve and continues to reduce its debt (9 Billion) in the downstream petroleum sector is +ve for my investment decision long term. Let me accumulate ConOil @ below N30 & wait for N4.00 Dividend next year. Shalom

BullBearMkt:
YOU ARE YOUR WORST ENEMY
Many times, we loss money in the financial market due to our own personality. You may have the strategy in the world to make billions of Naira in a single trade, but if your personality is wrong, then that will make it difficult for you to make desired money in the market. These personalities include:

-Over confidence (Ego)
-Lack of discipline
-Easy to bore
-Lack of patience

So, study your character and analyse yourself (instead of analysing the market) and protect yourself from yourself as nobody else will do it for you.

You are speaking to me...
No1 happens to me when I am on a wrong trade.
No.2 to 4 takes place when I stumble on a KILL....


-

PharmAlfred:



But nobody can truly say why the stock is sliding down. I think it is beyond the sentiments we are expressing now. Conoil share price rose 100% after it declared dvidend last year. This year, it is been bashed right, front and centre. I think we will know the true worth in the next 6months. Let's see what its q2 will look like as it is likely to give an idea of the company's direction.

May be the share is going back to its true price. It was N20 around 2012-2013. Maybe that is its true price.

stcool:


All investments irrespective of price is risky. I bought ConOil this year after careful study and that was the best price I could get in then, If price goes down the better for me to increase my position in this good company.

For the 5yrs Financials have a good look @ the possibility in this company, both cash flow and dividend payout is +ve .

A company that is sitting on over 42 Billion Naira in cash, consistent dividend, cash reserve and continues to reduce its debt (9 Billion) in the down stream petroleum sector is +ve for my investment decision long term. Let me accumulate ConOil @ below N30 & wait for N4.00 Dividend next year. Shalom

My best wishes to you!

pluto09:


My best wishes to you!

Oga, I go vex if later I hear say you buy ConOil oh!

Coolcash1:


Unfavourable judgement will not threaten going concern of the business...I even pray this happens ( plantiff winning the case) so that I can load more as a value investor. In the same vein, I am waiting for O and O at the right junction then, yours truly will load more...Trust Wale and his gang you can't beat them to it..Original cowboys...

What's is your junction?

stcool:


Oga, I go vex if later I hear say you buy ConOil oh!

I bought conoil at an average price of N32. I am out altlready with a marginal profit of about 20%. Might buy again if the price and sentiment are right.

pluto09:


I bought conoil at an average price of N32. I am out altlready with a marginal profit of about 20%. Might buy again if the price and sentiment are right.

Mpeace:
May be the share is going back to its true price. It was N20 around 2012-2013. Maybe that is its true price.

What if Mr. Market think otherwise? Should it get that low it's a perfect opportunity to load and load more. Though it's impossible it will get to that. Don't forget that what is going on now is market reflecting the effect of it's contingent liability on the price should the judgement go against the company...Thus, when the news finally break it won't have any impact on the price again but move north pole.

I rest my case.

....

leo1234:


What's is your junction?

N4. ...

Coolcash1:


What if Mr. Market think otherwise? Should it get that low it's a perfect opportunity to load and load more. Though it's impossible it will get to that. Don't forget that what is going on now is market reflecting the effect of it's contingent liability on the price should the judgement go against the company...Thus, when the news finally break it won't have any impact on the price again but move north pole.

I rest my case.

You are the only one that understands the way I feel about ConOil.

Good day people.

this thread seems to me like a great thread. however i can't seem to find the pages that contain information valuable for beginners in the field.
can anyone please help out. my thanks in advance

Coolcash1:


All these are applicable only to short term players and not long term investors....However, Almost including you bullbearmkt is guilty of the last one...I think this can be managed if relevant information is available to someone...for instance, an investor with info about the last M&B rally would have started mopping up when it was trading at below N1 and PATIENTLY waits for the expected time to pull the trigger...So, scavenge for information, calibrate it and make investment decision then one reduces the risk of impatience. .

...to be honest with you, I am guilty not on one, but ALL the mentioned personalities, my only "saving grace" is the use of stop loss. I hence re-evaluate myself every single day!

On whether all these are applicable to short term players, I don't know. What I know is that I got the info on a hedge fund manager website - they manage a little over $1 trillion! Do they have short term mindset or very very long term?

SEC Gives Capital Market Operators Deadline to Regularise Registration Status
www.businesspost.ng/2017/07/16/sec-gives-capital-market-operators-deadline-regularise-registration-status/

Elders in the house, thanks for all your guidance so far. Please what should be the correct entry price for FBNH with all that is going on?
Cc:
Fxuser
Bullbearmkt

Coolcash1:


[b]Unfavourable judgement will not threaten going concern of the business...I even pray this happens ( plantiff winning the case) [/b]so that I can load more as a value investor. In the same vein, I am waiting for O and O at the right junction then, yours truly will load more...Trust Wale and his gang you can't beat them to it..Original cowboys...

Be careful what you pray for. I reported this earlier that the shareholder's funds might be wiped out if they lose two court cases. I will proceed to put figures to this assertion.

"The Company is currently in litigation with one of its former suppliers of Automotive Gas Oil (AGO). The
commercial dispute, which arose in 2008 has been through the High Court and Court of Appeal, and is currently
at the Supreme Court. The amount being claimed by the supplier as breach of contract is $43,262,497 (N13.5
billion). Whereas the judgments of the lower courts have been in favor of the supplier, the Directors, on the
advice of the external solicitors, are of the opinion that the judgment of the lower court will be upturned by the
Supreme Court.
There are also a number of other legal suits outstanding against the Company estimated at N4.5 billion. On the
advice of the Solicitors, the Board of Directors is also of the opinion that no material losses are expected to arise
therefrom. However, a provision of N2.3billion has been made in these financial statements to mitigate any
possible future loss.
The Company is also in litigation with Nimex Petrochemical Nigeria Limited, one of its former suppliers of
products. In 2007, Nimex sued the company for US$3,316,702.71 and US$127,060.62 being demurrage and
interest incurred for various supplies of petroleum products. The Federal High Court gave judgment in favour
of Nimex in the sum of US$13,756,728 which included the amount claimed and interest at 21% till judgment was
delivered and also granted a stay of execution with a condition that the judgment sum be paid into the court.
The court also granted a garnishee order against First Bank Plc to pay Conoil’s money with the bank into the
court. Conoil has appealed against the judgment to the Court of Appeal in Abuja. The appeal is pending and the
Directors, on the advice of the external solicitors, are of the opinion that the judgement of the Federal High
Court will be upturned. The current value of the judgment sum is N4.3billion. However, a provision of N675m
has been made in these financial statements to mitigate any possible future loss"


Vitol Judgement against Conoil $43,262,497 (N13.5billion)
Nimex Judgement against conoil $13,756,728(N4.3bilioin)
Sum of both Judgements (N17.8Billion)
Shareholders Funds @ 1st Qtr 2017 (N18Billion)

If the supreme courts confirms both judgments shareholder's funds drops to N200m which is as good as Zero. Please note that the previous provisions for these contigent liabilities have been grossly inadequate.

You focus on the cash on their books N50billion (1st Qtr 2017) while ingnoring the liabilities N59billion (1st Qtr 2017) and contingent liabilities almost N18billion.

I have penny stock shares of First bank, GTB and oando...

Oando & GTB were bought in 2007 ... First bank in 2009 ... Each share is about 50 units at most.

The thing now is.... I haven't touched the dividends since they were bought cos the amount then was very small (N150, N180, N220) and I was still in University... Then everything had to be done in Lagos and I am based in Delta.

So now, I'm thinking of going to Lagos for my accumulated dividends but I have no idea of how much the accumulated dividends is.

So here's the basic question: If I bought 50 units of first bank's right issue in 2009, about how much accumulated dividends will I have in 2017?


Thanks



CC: stockbull , stockfrick, dipoolowoo , DeRuggedProf , jamace

MrTease:


Be careful what you pray for. I reported this earlier that the shareholder's funds might be wiped out if they lose two court cases. I will proceed to put figures to this assertion.

"The Company is currently in litigation with one of its former suppliers of Automotive Gas Oil (AGO). The
commercial dispute, which arose in 2008 has been through the High Court and Court of Appeal, and is currently
at the Supreme Court. The amount being claimed by the supplier as breach of contract is $43,262,497 (N13.5
billion). Whereas the judgments of the lower courts have been in favor of the supplier, the Directors, on the
advice of the external solicitors, are of the opinion that the judgment of the lower court will be upturned by the
Supreme Court.
There are also a number of other legal suits outstanding against the Company estimated at N4.5 billion. On the
advice of the Solicitors, the Board of Directors is also of the opinion that no material losses are expected to arise
therefrom. However, a provision of N2.3billion has been made in these financial statements to mitigate any
possible future loss.
The Company is also in litigation with Nimex Petrochemical Nigeria Limited, one of its former suppliers of
products. In 2007, Nimex sued the company for US$3,316,702.71 and US$127,060.62 being demurrage and
interest incurred for various supplies of petroleum products. The Federal High Court gave judgment in favour
of Nimex in the sum of US$13,756,728 which included the amount claimed and interest at 21% till judgment was
delivered and also granted a stay of execution with a condition that the judgment sum be paid into the court.
The court also granted a garnishee order against First Bank Plc to pay Conoil’s money with the bank into the
court. Conoil has appealed against the judgment to the Court of Appeal in Abuja. The appeal is pending and the
Directors, on the advice of the external solicitors, are of the opinion that the judgement of the Federal High
Court will be upturned. The current value of the judgment sum is N4.3billion. However, a provision of N675m
has been made in these financial statements to mitigate any possible future loss"


Vitol Judgement against Conoil $43,262,497 (N13.5billion)
Nimex Judgement against conoil $13,756,728(N4.3bilioin)
Sum of both Judgements (N17.8Billion)
Shareholders Funds @ 1st Qtr 2017 (N18Billion)

If the supreme courts confirms both judgments shareholder's funds drops to N200m which is as good as Zero. Please note that the previous provisions for these contigent liabilities have been grossly inadequate.

You focus on the cash on their books N50billion (1st Qtr 2017) while ingnoring the liabilities N59billion (1st Qtr 2017) and contingent liabilities almost N18billion.

Ironically, this company doesn't require permission from the Shareholders before taking this decision.

Yet Shareholders funds always come to rescue, while the management continue the mismanagement.

This is why I have no loyalty to any company on the NSE.

MrTease:


Be careful what you pray for. I reported this earlier that the shareholder's funds might be wiped out if they lose two court cases. I will proceed to put figures to this assertion.

"The Company is currently in litigation with one of its former suppliers of Automotive Gas Oil (AGO). The
commercial dispute, which arose in 2008 has been through the High Court and Court of Appeal, and is currently
at the Supreme Court. The amount being claimed by the supplier as breach of contract is $43,262,497 (N13.5
billion). Whereas the judgments of the lower courts have been in favor of the supplier, the Directors, on the
advice of the external solicitors, are of the opinion that the judgment of the lower court will be upturned by the
Supreme Court.
There are also a number of other legal suits outstanding against the Company estimated at N4.5 billion. On the
advice of the Solicitors, the Board of Directors is also of the opinion that no material losses are expected to arise
therefrom. However, a provision of N2.3billion has been made in these financial statements to mitigate any
possible future loss.
The Company is also in litigation with Nimex Petrochemical Nigeria Limited, one of its former suppliers of
products. In 2007, Nimex sued the company for US$3,316,702.71 and US$127,060.62 being demurrage and
interest incurred for various supplies of petroleum products. The Federal High Court gave judgment in favour
of Nimex in the sum of US$13,756,728 which included the amount claimed and interest at 21% till judgment was
delivered and also granted a stay of execution with a condition that the judgment sum be paid into the court.
The court also granted a garnishee order against First Bank Plc to pay Conoil’s money with the bank into the
court. Conoil has appealed against the judgment to the Court of Appeal in Abuja. The appeal is pending and the
Directors, on the advice of the external solicitors, are of the opinion that the judgement of the Federal High
Court will be upturned. The current value of the judgment sum is N4.3billion. However, a provision of N675m
has been made in these financial statements to mitigate any possible future loss"


Vitol Judgement against Conoil $43,262,497 (N13.5billion)
Nimex Judgement against conoil $13,756,728(N4.3bilioin)
Sum of both Judgements (N17.8Billion)
Shareholders Funds @ 1st Qtr 2017 (N18Billion)

If the supreme courts confirms both judgments shareholder's funds drops to N200m which is as good as Zero. Please note that the previous provisions for these contigent liabilities have been grossly inadequate.

You focus on the cash on their books N50billion (1st Qtr 2017) while ingnoring the liabilities N59billion (1st Qtr 2017) and contingent liabilities almost N18billion.

Sorry left out other contingent liabilities of N4.5billion which if crystallizes together with the two aboves gives us a negative shareholder fund of about N2billion.

There are also a number of other legal suits outstanding against the Company estimated at N4.5 billion. On the
advice of the Solicitors, the Board of Directors is also of the opinion that no material losses are expected to arise
therefrom. However, a provision of N2.3billion has been made in these financial statements to mitigate any
possible future loss.

What we have here is an event driven gamble that the judgments will be overturned which you seem to be willing to take. Prudent investors including most institutional investors will however wait for clarity on the law suits before committing funds to the trade.

Investors Only.

We are currently developing what will be the next ebay of Nigeria and subsequently Africa. The project has been percieved by few friends in the tech arena as the next big thing that will disrupt the e-commerce ecosystem. Owing to the huge fund needed to get this product off the ground and because we have no interest in sourcing funds from venture capitalist firms, we are inviting investment saavy individuals and entrepreneurs to join us in bringing this e-commerce product to reality. We have a team of web developers, graphic designers, VFX & CGI experts already working on the product and if this become the next big portal on the internet and you are not part of it, it would be another case of those who ignored Microsoft & Facebook founders.

We are looking for only 50+/- people to join us. You can use the whatsapp link below to join the whatsapp group where details of the program, what is in it for you, what stage we are now, including the strategy for sale and revenue generation will be discussed. When you join, please be patient until we are satisfied with the numbers before we commence the meeting.

Add the number on whatsapp 08066116166 & request to be added to the group please.

Waiting for you...

Ford.