The Banks

[eniyanman]

Originally Posted by knightofdelta

Who is this European banking analyst that does not want to be named? Why is he/she hiding the identity? These guys are jokers.

I had a meeting with a set of foreign investment bankers today who are getting ready to hit the market for some selected banks in the next few months. They know about the new CBN Governor and they know all about the ongoing auditing process; they came with a wealth of knowledge that would have put the average broker to shame about the Nigerian economy and the Nigerian market.

Don't be in a haste to hang... You must note that sometimes the frankest of discussions/revelations are made off the records. Perhaps, s/he could be one of those you may have spoken to recently. In my view, the focus should be on the validity or otherwise of what was said rather than identity.

Let me turn the table, regarding your meeting today, how many foreign bankers did you meet? where are they based or who do they work for? how many from your team met them (I assume you weren't alone since you once said you joined the industry recently and hence must be relatively junior), who is bearing the cost etc.

We shouldn't expect a greater level of disclosure from others than ourselves.

[c kenneths]

Its better for us to be buying stocks, whether the foreign investors invest or not, waiting for them to hit the market is not the best decision now. I placed buy/sell orders now.

[chrisekpo]

Originally Posted by eniyanman

Don't be in a haste to hang... You must note that sometimes the frankest of discussions/revelations are made off the records. Perhaps, s/he could be one of those you may have spoken to recently. In my view, the focus should be on the validity or otherwise of what was said rather than identity.

Let me turn the table, regarding your meeting today, how many foreign bankers did you meet? where are they based or who do they work for? how many from your team met them (I assume you weren't alone since you once said you joined the industry recently and hence must be relatively junior), who is bearing the cost etc.

We shouldn't expect a greater level of disclosure from others than ourselves.

well, not a bad sign as i can see. this type of Informations when the hit normally cause a rally, well i knw that Access bank'll be part of the portfolio of the company. well i lost some money in access en i believe i should recouple the amt in time. Pls wen are they entering actually?!

[savvy]

Originally Posted by eniyanman

Don't be in a haste to hang... You must note that sometimes the frankest of discussions/revelations are made off the records. Perhaps, s/he could be one of those you may have spoken to recently. In my view, the focus should be on the validity or otherwise of what was said rather than identity.

Let me turn the table, regarding your meeting today, how many foreign bankers did you meet? where are they based or who do they work for? how many from your team met them (I assume you weren't alone since you once said you joined the industry recently and hence must be relatively junior), who is bearing the cost etc.

We shouldn't expect a greater level of disclosure from others than ourselves.

Eniyanmannnnnnnn!

Well to answer your question Cash rules...IT IS A GOOD SIGN

There is a lot of power in information especially in a market that thrives on knowledge..and sometimes a lack of it.

For instance I recall Zain saying historically the 3rd quarter is usually not a good time to enter the NSE, (She is exposed to data for which a lot of folks dont have).

As for our FInvestors I would not be surprised if there is a staff dedicated to keeping tap of what is happening in the NSE (incuding SMN) and may have gigabytes of stored data now..

Imagine Bloomberg having data that may be difficult to access on the NSE..

I stand to be corrected but i think the NSE is a market that still yields returns that exceeds most other markets

[c kenneths]

Originally Posted by chrisekpo

well, not a bad sign as i can see. this type of Informations when the hit normally cause a rally, well i knw that Access bank'll be part of the portfolio of the company. well i lost some money in access en i believe i should recouple the amt in time. Pls wen are they entering actually?!

I dont see any problem with such info, but if thats what you rely on to raise prices and sell off your losing stocks, well I dont know. Hope is one thing I dont count on in this market.

[knightofdelta]

Originally Posted by eniyanman

Don't be in a haste to hang... You must note that sometimes the frankest of discussions/revelations are made off the records. Perhaps, s/he could be one of those you may have spoken to recently. In my view, the focus should be on the validity or otherwise of what was said rather than identity.

Let me turn the table, regarding your meeting today, how many foreign bankers did you meet? where are they based or who do they work for? how many from your team met them (I assume you weren't alone since you once said you joined the industry recently and hence must be relatively junior), who is bearing the cost etc.

We shouldn't expect a greater level of disclosure from others than ourselves.

I am not at liberty to discuss this. I believe that I may have spoken too much. My advice is for everyone to read the signs, use your judgement to make your investment decisions. If you feel there is no catalyst to drive the market, then sell or don't buy. And if your calculations and market information like price, volume, earnings, net assets, leverage tell you the stock is good then buy.

Insider info should remain insider info and I will have to respect the market to keep it that way. I will not disclose beyond my jurisdiction to prove a point.

[bivins1]

Originally Posted by knightofdelta

I am not at liberty to discuss this. I believe that I may have spoken too much. My advice is for everyone to read the signs, use your judgement to make your investment decisions. If you feel there is no catalyst to drive the market, then sell or don't buy. And if your calculations and market information like price, volume, earnings, net assets, leverage tell you the stock is good then buy.

Insider info should remain insider info and I will have to respect the market to keep it that way. I will not disclose beyond my jurisdiction to prove a point.

I have not been able to contribute a lot here cos i have been extremely busy. One thing i have noticed is that a lot of us have become traders which is not a bad thing. However patience sometimes pay off. There is nothing like knowing what you are doing in this market. The SMN is the most complete encyclopedia of the NSE and thank goodness we have people with all kind of info. However we should respect confidentialities and if you are at loss at what to do, sometimes its better to do nothing. What is happening in the market is not very strange but if you cant control your emotion and you want to jump into every rising stock, you will get burnt. I cant thank Wanajo,zain,KOD,eniyanmann,hispy and a lot of other contributors here. even though they differ in opinion sometimes, it all helps in making better investment decisions
History is repeating itself again and Zain has repeated time without number that you must not always be invested. wait so that when the bargains come , you will have cash to strike.
By the time first bank release their results and there is no more result to expect, that to me wwill be the best time to buy. you could in the meanwhile be doing some trading to increase your capital but be careful
goodluck

[chrisekpo]

Originally Posted by bivins1

I have not been able to contribute a lot here cos i have been extremely busy. One thing i have noticed is that a lot of us have become traders which is not a bad thing. However patience sometimes pay off. There is nothing like knowing what you are doing in this market. The SMN is the most complete encyclopedia of the NSE and thank goodness we have people with all kind of info. However we should respect confidentialities and if you are at loss at what to do, sometimes its better to do nothing. What is happening in the market is not very strange but if you cant control your emotion and you want to jump into every rising stock, you will get burnt. I cant thank Wanajo,zain,KOD,eniyanmann,hispy and a lot of other contributors here. even though they differ in opinion sometimes, it all helps in making better investment decisions
History is repeating itself again and Zain has repeated time without number that you must not always be invested. wait so that when the bargains come , you will have cash to strike.
By the time first bank release their results and there is no more result to expect, that to me wwill be the best time to buy. you could in the meanwhile be doing some trading to increase your capital but be careful
goodluck

well, sure, u've gat a pt. The stuff is that bank stocks are getting riskier en riskier, goin for firstbank?! Honestly am not expecting smthing grand. The percentage of payoff (dividend), i dnt knw if that'll really mean much, but given that the're'll be a general rally, on the average i feel it might be worthwhile.

For meah, am scared of Firstbank en Oceanic. Ope am not too risk averse

[nosa2]

Originally Posted by c kenneths

Its better for us to be buying stocks, whether the foreign investors invest or not, waiting for them to hit the market is not the best decision now. I placed buy/sell orders now.

tell them, if you try to time this market you'll either miss out on opportunities or enter at a bad time.

[twentypercent]

Originally Posted by knightofdelta

I am not at liberty to discuss this. I believe that I may have spoken too much. My advice is for everyone to read the signs, use your judgement to make your investment decisions. If you feel there is no catalyst to drive the market, then sell or don't buy. And if your calculations and market information like price, volume, earnings, net assets, leverage tell you the stock is good then buy.

Insider info should remain insider info and I will have to respect the market to keep it that way. I will not disclose beyond my jurisdiction to prove a point.

KOD, the truth of the matter when it comes to these so-called foreign investors is that they are no different from we individual investors, only with bigger purse. they are essentially after what we too are after... buying low and selling high. I personally don't consider their movements or investment policies because it doesn't matter, i can do my maths too and make my decisions, they can do a thousand meetings for all I care....I go in when I feel comfortable to, bear my risks rake in/make my profits/losses...I only like reading their analyst opinions though, I even make timing adjustments because such reports havebeen read by their own managements several days ahead of me....even SMN as been of better of late.

[hispy99]

ATM Redeployment: CBN Extends Deadline to Banks - Proshare

[hispy99]

http://www.proshareng.com/admin/uplo...an%20banks.pdf

HSBC report on 5 banks (GTB, UBA, Access, FBN, Zenith)

[eniyanman]

Originally Posted by c kenneths

Its better for us to be buying stocks, whether the foreign investors invest or not, waiting for them to hit the market is not the best decision now. I placed buy/sell orders now.

Originally Posted by twentypercent

KOD, the truth of the matter when it comes to these so-called foreign investors is that they are no different from we individual investors, only with bigger purse. they are essentially after what we too are after... buying low and selling high. I personally don't consider their movements or investment policies because it doesn't matter, i can do my maths too and make my decisions, they can do a thousand meetings for all I care....I go in when I feel comfortable to, bear my risks rake in/make my profits/losses...I only like reading their analyst opinions though, I even make timing adjustments because such reports havebeen read by their own managements several days ahead of me....even SMN as been of better of late.

Exactly... If anything, when a large investor says they will enter the market in a few months, to me, that's an indication that they are expecting a near-term fall in the market. I hope folks know investment decisions by large portfolio managers are not set in stone, they don't make a decision to enter irrespective of market conditions.

[lincoln]

Originally Posted by eniyanman

Exactly... If anything, when a large investor says they will enter the market in a few months, to me, that's an indication that they are expecting a near-term fall in the market. I hope folks know investment decisions by large portfolio managers are not set in stone, they don't make a decision to enter irrespective of market conditions.

I am also waiting at the bottom with my Cheque Leaf.

[Gengen]

Originally Posted by knightofdelta

Who is this European banking analyst that does not want to be named? Why is he/she hiding the identity? These guys are jokers.

I had a meeting with a set of foreign investment bankers today who are getting ready to hit the market for some selected banks in the next few months.....

Originally Posted by knightofdelta

I am not at liberty to discuss this. I believe that I may have spoken too much. My advice is for everyone to read the signs, use your judgement to make your investment decisions. If you feel there is no catalyst to drive the market, then sell or don't buy......

KOD,
You are really confusing me (us). First, you disagree with opinion of the European analyst that does not want to be named. Secondly, you stated that you had a meeting with some "foreign investment bankers" who are keen. You wetted our appetite. You made us know that amongst "those corn (banks) on the ground", some our really good to be picked. As good "Hens", we ask for more guidance, you begin dey dodge.
To completely disprove this "unnamed foreign analysts" with your counter information, you need to "speak more". This way, we might promote you from Knight to Bishop
The generalised suggestion is completely vague and the same as what majority have been doing already.
As you know, in this forum, you are also "unknown" like the "unnamed foreign analyst". Please speak more as we are not complaining that you "may have spoken too much".
As it is written, when He spoke, some will hear and some will not.
Also, as it was written about the Parable of those that built houses on different types of soil (CKenneth ), you have shown us different lands (banks), but you do not know give us the information to know which one be hard solid ground. You want us to unknowingly build on loose sand?

[knightofdelta]

Originally Posted by Gengen

KOD,
You are really confusing me (us). First, you disagree with opinion of the European analyst that does not want to be named. Secondly, you stated that you had a meeting with some "foreign investment bankers" who are keen. You wetted our appetite. You made us know that amongst "those corn (banks) on the ground", some our really good to be picked. As good "Hens", we ask for more guidance, you begin dey dodge.
To completely disprove this "unnamed foreign analysts" with your counter information, you need to "speak more". This way, we might promote you from Knight to Bishop
The generalised suggestion is completely vague and the same as what majority have been doing already.
As you know, in this forum, you are also "unknown" like the "unnamed foreign analyst". Please speak more as we are not complaining that you "may have spoken too much".
As it is written, when He spoke, some will hear and some will not.
Also, as it was written about the Parable of those that built houses on different types of soil (CKenneth ), you have shown us different lands (banks), but you do not know give us the information to know which one be hard solid ground. You want to unknowingly build on loose sand?

In answer to your question I am going to repeat my post here for you to see. The answer is there. Yes, I have a "hidden identity" but there are some people who know me on this forum already. But that does not change the fact that it is unethical to front run the market and to trade using material non-public information. I am not allowed to do it and will also not prompt people to do it. Trading using insider information is unfair on the market and wipes out confidence.

However, there are certain information that is public and the whole world can see. All I can do is to point you towards those signs and as I always say, those that have ears will hear and those that have eyes will see.

Originally Posted by knightofdelta

I am not at liberty to discuss this. I believe that I may have spoken too much. My advice is for everyone to read the signs, use your judgement to make your investment decisions. If you feel there is no catalyst to drive the market, then sell or don't buy. And if your calculations and market information like price, volume, earnings, net assets, leverage tell you the stock is good then buy.

Insider info should remain insider info and I will have to respect the market to keep it that way. I will not disclose beyond my jurisdiction to prove a point.

If you are still confused after reading this... I will have to refer you to Dr Lemerriam or Dr Babe!

[zainabusman]

Originally Posted by hispy99

http://www.proshareng.com/admin/uplo...an%20banks.pdf

HSBC report on 5 banks (GTB, UBA, Access, FBN, Zenith)

Thanks for this report. I was surprised they were overweight on UBA. However, unfortunately for them the number of shares outstanding was wrong. Consequently, the EPS, Book value per share etc on UBA were wrong!!! This explains the recommendation probably. What a key error.

I have sent the analyst a mail. Maybe they will look at it and correct in the future.

[hispy99]

Originally Posted by zainabusman

Thanks for this report. I was surprised they were overweight on UBA. However, unfortunately for them the number of shares outstanding was wrong. Consequently, the EPS, Book value per share etc on UBA were wrong!!! This explains the recommendation probably. What a key error.

I have sent the analyst a mail. Maybe they will look at it and correct in the future.

I was surprised they were overweight UBA too. Good catch on the shares outstanding.

[dccool]

Check out this report. What do you think?

A tale of many bank ratings

[zainabusman]

Originally Posted by hispy99

I was surprised they were overweight UBA too. Good catch on the shares outstanding.

The Analyst actually replied my mail and said he wants to talk. We might talk next week.