@grabdaloot

I feel you , but dont feel bad. We all get whipsawed by the market especially when the market defies reason. Also you have made some bull''eye calls here and i think Chellarams is one of them . You are going to grab mo loot this coming month. Idey behind you for the AGleventis gate . I must enter by all means necessary,something must be brewing .

aktopgun:

welcome back sir. hope all is well.

Aktopshot ,

you are officially a technimentalist , howz da goin with you and yours? Give Tobe a hug on my behalf.Cheers.

Wetin your candle dey see for Neimeth , enuff blood for that sector. Apparently the market is  coming back to its senses for some companies whose share price is not supported by earnings.

damoche07:

@Barge.welcome back from your self declared vacation.Good to see  you.

I hail o ! Good to be back amongst all you good peeps.

RoughCut:

The Guru Emeritus hope  u dey enjoy your semi-retirement

@ Roughcut,
howz the going. I need 5 years to become a Guru and another ten years of learning and practise for me to add Emeritus join am. am still W.I.P and i dey learn from all my Ogas.

@ Easi

tuve mucho trabajo y estudios. Gracias amigo. Been busy ,thanx for holding it down.

@londoncool ,

when is the carnival, i get enough candlesticks for nite vigil.

To all my Ogas, guggurus and Gurus,

Wanaj0, WW,ak47 et all.

I salute , i am almost through with my punishment for being away fro the thread for such a long time.God bless you all ,keep it coming. This FCMB results looks dissapointing unless they intend to pull a rabbit out of their hats.

@ bigjay

thanx. will find out about that.

@Father of 3

i am  your third child o. i dey postrate o and i dey follow your lectures .more grease to your whole body. Thank yyou very much indeed.

bigjay01:

@

Bye Bye to CHAMS. I wish I had wanaj0's kind of capital. Well, it is a lesson i had to learn in a hurry. Tied up a lot of money through Diamond Bank GDR. (couldnt refuse it at N16.5)

Can anyone lend credence to the 'news' by WW that interswitch might be planning a PP. I need to be well prepared for this (hopefully the issuing houses will be one where doors get opened for me through , )

Please what business is Interswitch engaged in ? Hope the weather is not too cold for your side.

@ Father of 2

the insurance bloodbath continued today. Any pointers . i dey loyal .

@ WANAJO

My chairman , thanx for the reply.

which one is NRM insurance ?

@Father of plenty

u cant see me as i dey postrate.I give respect , only we have different ways of expressing it. You dont know how much i have learnt from you though i dont make noise about it . I recognize chairman . i DEY HUMBLE , wetin small pikin sabi , you we you dey handle 285m. Abeg what is the next move on FCMB. i dey learn.

@ WanajO

What is your take on fcmb and A.G leventis. Respect.

@ aktopgun

howz Tobechuks ? Abeg what's the minimum requirement for this TRW peeps ?

@ Ololufemi

how far with fcmb ? i get small units .wetin be next move. This Chams , person need dough to buy plenty,but i gast to go through the prospectus.

invisible!:

@ barge, if truly this is a forum where divergent opinion is accepted, then you should have accepted mine, and not select my comments for special castigation as if I was the only person against the write up. Others earlier posted things to negate that bank thrashing but you said nothing, abi you just wan silence one ‘small’ voice?

There was nothing personal about what I said, I like to be precise in my comments, hence the direct reply instead of dancing round the point. Even more confusing is saying you cannot accept to lose one kobo and still said you will take calculated risks and don’t fret when you lose?

Please educate us about how you can take risks and not think of losses

The fact that i cant afford to lose does not mean i wont take risks.Risk tolerance and profile is a very very personal issue and you dont educate people , peeps will decide through a number of factors what risks are acceptable to them. As regards singling your post for castigation , it is entertaining to deal with a case of THE VOICE OF JACOB and the HANDS OF ESAU.

invisible!:

For the doubting thomases who are skeptical about the good results being churned out by the banks, well stop buying bank stocks.

Water will always find its level. Untill such a time the investors themselves have decreased returns from banks in comparison to other sectors, we shall continue to patronize bank stocks.

However the warnings are noted, but never invest any amount you cannot afford to lose. This is the golden rule in risk management.

Firstly , this is a forum where divergent opinions are accomodated "stop buying bank stocks " sounds like you are taking it personal. Part of my job is to manage risk and  decide if i am comfortable with any risk factor.

"we shall continue to patronize bank stocks " is patronizing . I will remind you part of maturity is accepting that others have a different view. We areneither debating nor driving opinion here.

Finally , I CANT AFFORD TO LOSE ONE KOBO .Though i take big risks ,they are calculated and i if lose , i don't fret .  It can't be a taboo to see whats wrong even if you are profiting from it.

yodiyokun:

Yes oo you got it right.

Is he normally like this-I tried his phone today - it was switched off - his two phones o.

Last week I called twice on this UBA issue, nothing.  I know  my money is small, but haba its still my money ke? The thing dey vex me wahalahi!.

Especially because I am so busy that I don't have every day to be chasing after a purchase or sale, coupled with 6 hours time difference?

The annoying thing is that no response to my emails is the height of it



Rant over.

His phone was unavailable for some time . If you still need details, will mail it to you. He is a good guy and does a good job .Again you can only drive as much as your engine will move u.

crazyT:

Secrets behind banks’ huge profits


I just ran into this story today and I think of sharing it with you all especially peeps that are crazy about bank shares, I guess someone on this thread has asked this question before? How do the banks come by these profits when other sectors are not doing well?

Guys make una shine una eyes o 


Suddenly, we are back to the era of stupendous figures. If key performance indicators are not doubling or tripling, it is quadrupling. And just as one bank is rolling out astounding figures for one period, another is announcing some out-of-the-world results for the same or other periods. And these are usually heralded by a blitz of advertisements to properly situate and highlight the waltz up the performance chain.

The big question: How do the banks come by these profits when other sectors are not doing well? The surprising thing is that you hardly see much activity in some of these banks reeling out these mind-boggling figures. Where then lies their secret?
here under is the link: http://odili.net/news/source/2008/jan/6/428.html

 Without doubt the banking industry has grown rapidly since consolidation in 2004 and they have been ingenious in turning out profits for all stakeholders as the economy continues to grow and their is still a massive section of the population yet to be exploited.There is a lot of room for growth in the industry.
 
However , the article raised some valid questions which have been discussed on this thread at some time. To a large extent there exist INCOME SMOOTHING . This is one of the drawbacks of Accrual accounting that gives management the discretion of what classification an item should fall under , and the timing of expenditure.

Classification smoothing  occurs when a company reports an item in a category in order to smooth earnings, whlie

Intertemporal Smoothing occurs when a firm alters the timing of expenditures  or chooses an accounting method in order to smooth earnings.

These 2 methods of earnings management is very present in the NSE .This practise happens worldwide alright but,if you mix this with the Nigerian factor and the cut-throat competition plus lack of strict enforcement by the relevant authorities ,we  have some potentially dangerous cocktail on our hands. Examples abound this year. Wema bank had the result locked until it was in the interest of the bank to release it. The past days shows the result can be released when it interest the banks ,on time.
I believe very strongly in the prospects of the industry and i consider this as another RISK i have to take to invest, but it is a very serious issue because the EARNINGS MUST HAVE REPRESENTATIONAL FAITHFULNESS. I can only hope we get there.

yodiyokun:

I placed an order for UBA since like 3 weeks ago -- and i have been constantly doing that now,  no word oo.

O ti sumi

It just hit me now that we share the same account officer. He is back from holidays and i spoke with him this morning.His name is L.O , right ? I can mail you the names of others that can attend to you.

shigidi:

yodiyokun, please have you received uba certificates?? please reply abeg because i still havent gotten mine

received mine last friday. compliments.

yodiyokun:

@NBA,

are you now using UBA stockbrokers? if you are what is their service like?

@Easimoni,

I beg who is your account officer at Lead? I am getting frsutrated with their services.

No response to emails,  even when I call , the guy keeps telling me he is not in the office yet at 7pm Naija time and that he will reply my email later - no show.

All my orders in the last 3 weeks have not been executed - and no explaination.

The last sum of money I paid into GTB took a week be4 they credited my stockbroking account and this was after calling many times oo.


I am extremely fed up, I have  alot in cash now and they just keep bungling up my opportunities to buy, its absolutely ridiculous.

I still want to inject more capital but this is highly discouraging.

@All I just needed somewhere to Vent.

If not that the likes of FSDH are out of my reach presently?

anyone with ideas?

yodi

 @ YY

  I feel u cos i have an account with them but not for trading .I posted on this some pages back when i barged into a conversation between you and easi. Its  impossible clap with one hand . Isuggest you try afrinvest . I could give you the details of my account officers.

aktopgun:

is it really true chams pp is closed, make una stop this rough play o!

anyway just been looking at my liquidity and its not looking good right now. May is a good month for me. some of my other investments go amture then and hopefully i'll get some good buys on the NSE then too

@ AKtopgun

  May is not exactly a good month considering relatively high prices of the first 7 months of the year. August-september might be a better month as the bears really run da market about this time. Ultimately a lot depends on investment criteria.just a reminder .

easimoni:



Anyone impressed at the speed with which UBA, Zenith and Oceanic all brought out results that closed 7 days ago? Mind-blowing.

Very impressed and suprised but i hope it is not that it serves the respective management purposes presently.Goes to show some of the clear earnings management that goes on in NSE and that when it interests the firms the results can be ready when due. I hope starts a positive trend like the first bank interest payment on oversubscribed POs.

@ easi

 i dey behind u on deap. am sure you are watching nsl. thanx a mil .

upward:

http://www.nigeriansecurities.com/dailyposition.php

Looks like the bears have not gone too far. Most stocks lost today, almost all the insurance stocks lost some amounts today, just for a few. What can one say to NSE??

no suprise here , the profit takers were bound to descend .

pumping777:



Just browsing the thread to pick out names of stocks others have picked without doing any analysis yourself, is one sure way of learning absolutely nothing.

A lil belated input but the significance cant be undersetimated

Pumping , once again you put into words.More grease 2 ur elbows.

@newbies and not -so new , please read it over and over.The real question is what you can do without this thread .Remember CHANGE is a costant. goodluck .

windywendy:

@easimoni, please hold off on the Orient PP. Doesn't look realistic. I'll take a better look this weekend and let you know my thoughts further.

Also, the chams pp is out! JUIICCCYYY infact just reading the prospectus is almost making me dance in my seat right now  . Ends second week in Feb. Will share further next week.

Wonderful weekend everyone. Don't forget to spend quality time with your families!

Please can you forward the prospectus ,being on the look out for the firm for some time . Abeg i dey wait .

Guaranty Trust Assurance PP will be out in a few weeks . Will update as soon as its on.

@ all

 attached is Afrinvest dealer's perspective 040108

@ easimoni

i f i didnt do justice to dat question , will reread the part and post.

EMMAACHILE:

Good evening nairalanders
RECOMENDATION ON UNITY
UNITY BANK - SPECULATIVE BUY
My sister told me from confirmed sources in Unity Bank that their offer will be coming in March this year and The price will likely get to 15 naira before they go for an offer.

For those with large minds, you can go for it.
I will be placing a buy on Monday at max price of 10.00 and set traget price at 14 naira.

Thread carefully on this

I don follow you chop Nem ins. Thanx and compliments