Rencap Research Report - Nigerian Banks

[newton]

FYI and critique...

[hispy99]

Originally Posted by newton

FYI and critique...

Thanks very much

[billions]

This report is far more reasonable,readable and closer to reality than the one prepared by JP Morgan.

The JP Morgan analysts did graduate from a government accredited "School of Analysis".

[zainabusman]

Originally Posted by billions

This report is far more reasonable,readable and closer to reality than the one prepared by JP Morgan.

The JP Morgan analysts did graduate from a government accredited "School of Analysis".

Ur comments reminded me of John Rothchild. He said nobody "likes" bearish Analyst and short sellers. Infact he said "if u make money in a bear market, dont tell the neighbours". Otherwise they will hate u. In the US, bear Anlayst and short sellers have even been unfairly blamed for some crashes.

JP was bearish and most of us were not particularly happy with them. They were also partly right as most of the stocks have fallen since they wrote their report. Infact all the 7 banks have shed weight since the report. If the NSE had allowed things to take their course Zenith, UBA would have fallen even lower.

What these two reports tell u is that their is growing interest in Nigerian market and this price fixing came at the wrong time. The market is no longer free.

By the way Rencap is in Nigeria and they pay big bucks.

[hispy99]

Originally Posted by zainabusman

Ur comments reminded me of John Rothchild. He said nobody "likes" bearish Analyst and short sellers. Infact he said "if u make money in a bear market, dont tell the neighbours". Otherwise they will hate u. In the US, bear Anlayst and short sellers have even been unfairly blamed for some crashes.

JP was bearish and most of us were not particularly happy with them. They were also partly right as most of the stocks have fallen since they wrote their report. Infact all the 7 banks have shed weight since the report. If the NSE had allowed things to take their course Zenith, UBA would have fallen even lower.

What these two reports tell u is that their is growing interest in Nigerian market and this price fixing came at the wrong time. The market is no longer free.

By the way Rencap is in Nigeria and they pay big bucks.

How big? My eyes are shining already

[zainabusman]

Originally Posted by hispy99

How big? My eyes are shining already

Very big! Although Nigerian banks pay well at the top level, these guys are out of their league. I know some of their staff.

[hispy99]

Originally Posted by zainabusman

Very big! Although Nigerian banks pay well at the top level, these guys are out of their league. I know some of their staff.

Yepa, where is my passport!

[knightofdelta]

Originally Posted by zainabusman

Very big! Although Nigerian banks pay well at the top level, these guys are out of their league. I know some of their staff.

Err... I dey look for work in the financial industry. I need connections ma.

[zainabusman]

Originally Posted by knightofdelta

Err... I dey look for work in the financial industry. I need connections ma.

I suspect u are already in the industry. It is no secret that the financial services and oil industry pay the best in Nigeria.

[knightofdelta]

Originally Posted by zainabusman

I suspect u are already in the industry. It is no secret that the financial services and oil industry pay the best in Nigeria.

Nope... the only connection I have with the industry is the few banking stocks that I have and my slim bank accounts. I am just a small town somebody working very hard and earning little pay. So I dey wait for connections. I fit drop my CV o.

[newton]

Originally Posted by knightofdelta

Nope... the only connection I have with the industry is the few banking stocks that I have and my slim bank accounts. I am just a small town somebody working very hard and earning little pay. So I dey wait for connections. I fit drop my CV o.

Bros, even ur governor sef talk se him be fisherman so...

just lets have some of those crude oil funds...

[knightofdelta]

Originally Posted by newton

Bros, even ur governor sef talk se him be fisherman so...

just lets have some of those crude oil funds...

Ewo! Wetin you talk so? Next time you come Naija no juss bransh for naija delta eh... my governor dr uduaghan, na een you dey call fisherman? the guy na doctor oo. na bayelsa governor be fisherman and when he start hin PP now, you go buy oo.

[billions]

Originally Posted by zainabusman

Ur comments reminded me of John Rothchild. He said nobody "likes" bearish Analyst and short sellers. Infact he said "if u make money in a bear market, dont tell the neighbours". Otherwise they will hate u. In the US, bear Anlayst and short sellers have even been unfairly blamed for some crashes.

JP was bearish and most of us were not particularly happy with them. They were also partly right as most of the stocks have fallen since they wrote their report. Infact all the 7 banks have shed weight since the report. If the NSE had allowed things to take their course Zenith, UBA would have fallen even lower.
What these two reports tell u is that their is growing interest in Nigerian market and this price fixing came at the wrong time. The market is no longer free.

By the way Rencap is in Nigeria and they pay big bucks.

GTB was favoured in d JPM parochial report but the Nigerian Bears no send d report....our bears are very rude.

They said the expected stock price of GTB is abt 38 naira and that of 1st bank is about 23 naira.

The stock price of both banks came down after the report but i can tell you that 1st bank is on her way North and d price will soon reach 23*2=N46.

Why should i listen to JPM...a bank that was heavily fined after investigation reveals that it helped to mislead Enron investors by helping the company to inflate earnings.

Zainabusman,they have deceived investors before...they want to do it again!

You r right that we dont like bearish analysts but JPM may have a hidden agenda .

[Apache]

Originally Posted by knightofdelta

Ewo! Wetin you talk so? Next time you come Naija no juss bransh for naija delta eh... my governor dr uduaghan, na een you dey call fisherman? the guy na doctor oo. na bayelsa governor be fisherman and when he start hin PP now, you go buy oo.

Emm! Sir of the Niger Delta, no bother kidnap newton o! No money dey for that side. This one wey you don dey get interest for financial sector bcos say dem dey pay, I hope your interest is for the right reasons. Make we no begin hear say dem don dey kidnap pple wey dey work for bank now o!. Abeg, na joke I dey joke before I get ambushed by the 3 musketeers

@ Newton, Thanks for this report. Haven't read it yet but will surely do this weekend. Still waiting for the report on the insurance sector as you indicated earlier.

So guys, what are we buying or is everyone scared about the recent happenings on the exchange.
For me, I am not quite bothered as the money I invest is not money I will be needing in the next 5 years at least. Surely It can't be this bad for the next 5 years.
On another note, I see some opportunitites (though not justified) in the recent price freeze/ intervention (abi na glitch) by the NSE. Note that trading continues, it just that prices can't go down for the next 1 week hence that means pple are still selling. For me, I just like trading during TS, it gets to a point when there is no one to sell again hence creating the necessary scarcity that might drive prices up. Also for the vact that NSE intervened means that are not interested in prices going down further.
Note that I am not in support of what Ndidi and her team did cos how else will I buy Costain, Betaglass or Dang Flour for less than N20

[ofonzo]

Does any body have the Renassiance Report mentioned in the above?