OBAGADAFFI:


You buy your FO if your are still interested

Are you sure the Jido did not place a bid valid for 7 days

OBAGADAFFI:


You prophesy is happening .

Abeg leave prophesy for Prophet Utuocha, I no want drag title and recognition with anybody.

We have all been in this market long enough to understand how some certain stock and action plays out.

mendes911:


Abeg leave prophesy for Prophet Utuocha, I no want drag title and recognition with anybody.

We have all been in this market long enough to understand how some certain stock and actions plays out.

Mendes abeg allow us enjoy this weekend in peace
I no wan enter military cantonment

TLAX:


Possible answer to bolded below

Conclusion: the sentiments are consistent across board

Response 1
You're shaking a broken table
Equity isn't a generic name in Nigeria. Nah not even a noun. As a name describes attributes and character of the underlying. PFAs have bought something hard to describe. The last 10 years has produced significant negative returns save for year 2013 and 2017. 8 solid years of losing money not in single digits but mid and upper teens.

If the money was left in cash it would have been better. If we add inflation considerations, your guess isn’t going to get there. You also missed the blatant destruction of value by unexplained, unexpected shut downs and nationalization of how many banks? Oceanic bank, Intercontinental, Bank PHB. Notably there is that special oil and gas company that is always raising money, Skye Bank - What did PFAs get? Zero. These were banks that had big 4 audits and CBN affirmative reports 3 months before an overnight take over. Check in and see what the industry lost
PFAs are fiduciaries and will not ignore the concerns of the plan owners who already live with the hope that these monies will amount to something. It's not risk-aversion but common sense. How do you stay invested in an asset class that drops to zero overnight . When PFAs complained about small trades (market manipulation) affecting portfolio valuations what happened? 2 nondescript brokers will trade 10,000 units of a stock and make a single PFA lose 2bn in one day. Is that a market?
There were 120 banks and over 300 insurance companies in this country at some point , where are we today. Has the market grown or we should just continue to plow in? Trust is a precious commodity. Once broken, in any relationship, It will take a long time to rebuild. That's happened in this market and unfortunately not being looked at.

Response 2
Greetings and good to read your write up as always.I asked the question after reading through; what exactly is the answer you are expecting to your question?
Where should the loyalty of PFAs lie? To the market or their RSA holders? I would say to RSA holders/members of course.
Do you Invest Longterm to destroy value or to grow value? Are Nigerian Equities positive for LT investors or value eroding? Look back 10, 15 years and you will come to the same conclusion that the majority of Names on the NSE are value destructive for a Long term Investor. Look at the 10 year look back that was published recently showing that only a few names outperformed inflation and devaluation, over the 10 year horizon; one banking stock – Guaranty Trust Bank, FCMG – Nestle Nigeria, two Agriculture Company – Okomu and Presco….
Also, we have found out that the so called equity premium does not exist for most names in Nigeria; certainly not in the last 15 years.
You raised the question on whether Fixed Income is risk free? The professionals know that nothing is risk free; not even US Treasury!!! However, there is the believe that if you are a Naira investor, and Nigeria does not implode or explode, the Federal Government will print money to settle Naira bonds/Treasury bills obligations if it needs to. Euro Bonds holders may not have such consolation.
I am not sure therefore that Fund Managers should put clients’ money at risk, just because they want to be or be seen to be LT players. This behavior will subsist until the Macros, the fiscal and the monetary line up, and rational analysis supports playing Long term. Till then……..
Anyway, I always enjoy your writes up, and I like the emotion behind them.

Response 3
For most PFA’s there is also concern that you could be penalized for performance below industry average. As result, if you are being measured against peers that have little or no equities (and you are heavy on equities) the possibility of having returns below peer average is high…this could come with penalties. I even think things could worsen once the transfer window opens…as managers may be under pressure to deliver short term returns.

From An Equity Salesman

God Bless you plentiful

quite insightful

OBAGADAFFI:
You prophesy is happening .

That's what he wants nah.
FO issue took that dimension cos the whole arrangement looks like scam afterall and also, the vol doesnt make sense at all.

at this point, person just dey observe dey go. I see currency devaluation coming sooner than we expect.

Agbalowomeri:


Are you sure the Jido did not place a bid valid for 7 days

Mcy56:

That's what he wants nah.
FO issue took that dimension cos the whole arrangement looks like scam afterall and also, the vol doesnt make sense at all.

Were you expecting otherwise based on the 500k announcement. If result show and improvement dey, then I can agree that the stock is ready to move.

Some people just chop 10% clean mouth.

meshpips:


Without using FA, I gave the buy recommendation for this stock on this same thread when it was priced between 5.80 - 6.00 handle.

Shebi VAP na nonesense?

I told you guys that it works very well as a stand alone indicator and it is a LEADING indicator.

Make we still dey watch GTBank until it reaches 19 .

Una nor go hear word here o! First to do nor dey pain.

Na my turn now.

Baba...go siddon abeg. Nobody cares about your recommendations here. Not after your debacle in FX trading thread and the accompanying attitude. If your recommendations can make money, use it to make money for yourself first.

MTO or no MTO, FO remains a stock to keep eye on.
Those guys are controlling almost 75% of the total share, price manipulations is evident here in some near future.
Also, their results arent bad too. Current market price still makes sense.

mendes911:
Were you expecting otherwise based on the 500k announcement. If result show and improvement dey, then I can agree that the stock is ready to move. Some people just chop 10% clean mouth.

Those who chop clean mouth will still come and buy high.

Mcy56:

Those who chop clean mouth will still come and buy high.

Amin oooo.

BTW, they might still buy higher, sell later and still make profit while some traders will sidon on top paper profit until stock reverses back to entry position.

This market ain't about who came first, na who make better decision.

Stock with new 52 week low
Guinness #23.85k
Stock with new 52 week highs
Contisure #2.39k

Why should one even focus on FO again? Total, Mobil, Conoil, MRS are all struggling because NNPC is the sole importer of PMS. The only action that can save the day for them will be full deregulation which the FG is not prepared to do. Who could have thought that Guinness will be selling below N25 today?

Mcy56:
MTO or no MTO, FO remains a stock to keep eye on.
Those guys are controlling almost 75% of the total share, price manipulations is evident here in some near future.
Also, their results arent bad too. Current market price still makes sense.

Intendy:
Stock with new 52 week low

Guinness #23.85k

Stock with new 52 week highs

Contisure #2.39k

Guinness
Gone too soon

FG destroyed them all with excise duties.

Agbalowomeri:


Guinness
Gone too soon

mendes911:


Were you expecting otherwise based on the 500k announcement. If result show and improvement dey, then I can agree that the stock is ready to move.

Some people just chop 10% clean mouth.

I am waiting for FO q3 result. q2 was good but certain things make me uncomfortable....
I can't hold a stock that I will be checking the price every 1 hour when there are plenty others that I can buy and still sleep well at night...

If q3 is OK, we will take it from there....

rebekah2011:
FG destroyed them all with excise duties.

It's not excise duties that killed Guinness. It was their shift in strategy to premium spirits from value and premium beer. That strategy eroded their market share. ABinBev now came and finished them with competition. Excise duties just nailed the coffin.
Guinness died a long time ago.

Intendy:
Stock with new 52 week low

Guinness #23.85k

Stock with new 52 week highs

Contisure #2.39k

Where is CP, Guinness has reached his junction

Coolcash1:


The guy is very distasteful and stinks of arrogance, pride and egoism...I detest people with such haughty, exasperating and condescending attitude.

. Abeg o. No take grammar dabaru everybody o. I no get dictionary for my house

rebekah2011:
Why should one even focus on FO again? Total, Mobil, Conoil, MRS are all struggling because NNPC is the sole importer of PMS. The only action that can save the day for them will be full deregulation which the FG is not prepared to do. Who could have thought that Guinness will be selling below N25 today?

Infact we should expect it lower in the nearest future,that is why in times like this a stock with 10% div yield or more,good/fair result, at or close to year low gives some kind of inner peace,the worst would be to chop,10 % for the,year,i dont think that is bad for a BAD year

Thanks. But all the Beer making companies are not doing well.

735i:


It's not excise duties that killed Guinness. It was their shift in strategy to premium spirits from value and premium beer. That strategy eroded their market share. ABinBev now came and finished them with competition. Excise duties just nailed the coffin.
Guinness died a long time ago.

Mcy56:

That's what he wants nah.
FO issue took that dimension cos the whole arrangement looks like scam afterall and also, the vol doesnt make sense at all.

I refused to touch FO because I am conviced that the only thing that can move the price up is good interim dividend and that I don't see coming

meshpips:


A3 for SS1 student writing GCE.

As at my SS 3 I graded an A1 and every other subject was also an A.

If you din't grade better than 7 As, please keep quiet!

oga u deserve some guiness world records u mean u made A asterics as bukuru people been dey call am

"Investing is not about beating others at their game,it's about controlling yourself at your own game" -Benjamin Graham

"There are two kinds of people that lose money, those that know nothing and those that knows everything" - Howard Mark

onegentleguy:


Folks dey EXCEL in ABSTRACT ALGEBRA(math 55a) and COMPLEX MATH ANALYSIS(math 55b) and that olodo dey here dey make noise !!
The dude get brain tumour that's in dare need of a SURGICAL DRAINAGE !!

We no need to waste TIME on that guy.

. Oga mi u sabi book o. That 55b. No be d one wey senators dey read?

Are we sure c&I leasing will not still go back to 2 naira. So where is the benefit of reconstruction?

jideflash:
at this point, person just dey observe dey go. I see currency devaluation coming sooner than we expect.

at this point I give up. Me I want to invite the colonial masters to take over. It does not seem these guys can solve the puzzle. Since nothing seems to work.

yom2:
at this point I give up. Me I want to invite the colonial masters to take over. It does not seem these guys can solve the puzzle. Since nothing seems to work.

Lol make una calm down
We will get there slowly

Intendy:
Stock with new 52 week low

Guinness #23.85k

Stock with new 52 week highs

Contisure #2.39k

How art the mighty fallen!
NSE, the 'humbler' of men since time immemorial!

735i:


It's not excise duties that killed Guinness. It was their shift in strategy to premium spirits from value and premium beer. That strategy eroded their market share. ABinBev now came and finished them with competition. Excise duties just nailed the coffin.
Guinness died a long time ago.

oh. That sweet company with good workers welfare

MARKET UPDATE CLOSE OF THE WEEK 25 OCT 2019
Loss for the week: 0.38%
Loss for the year: 16.17%

This market is not looking inviting at all. I will not be aggressive in buying into this market. Any buying has to be on my terms.

Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). This document remains the personal property of Target technical analysis https://twitter.com/AnalysisTarget