Investor Delight - A Delightful Tool for Monitoring Your Stock Portfolio

authordonne4real | July 30, 2007

I just discovered the site, Investor Delight, today. It is a wonderful site for monitoring your Naija stocks online. It is a very neat web 2.0 site. You can add and edit multiple portfolios. It also allows you to add your stockbroker names and their charges. When you add a new stock, you have the option of also adding the brokerage fees you paid. The system automatically calculates your gains/losses based on the current price and the purchase price for the stock.  

The major difference between Investor Delight and Karakata Online is that with Karakata, you can only add a stock once to your portfolio but with Investor Delight, you can add a stock multiple times. For example, with Karakata, say you initially bought Oceanic Bank at N5 and then bought it sometime later at N16.50, you can only add one instance of the stock. But with Investor Delight, you can add it multiple times.The site is really really impressive. Big up to the website admins.  

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Yar’Adua’s style of leadership

authordonne4real | July 27, 2007

Below is an interesting article by Reuben Abati on Yar’Adua’s style of leadership: 

Yar’Adua’s emerging style

By Reuben Abati

TO say that a new leader’s style and/or persona is different from that of his predecessor may amount to a statement of the obvious. But in Nigeria, style in this context acquires a significance that is instructive beyond what may seem to be given. And in attempting a preliminary assessment of President Umaru Yar’Adua, what is emerging is the realization, now generally acknowledged that his style is so far a radical and refreshing departure from what Nigerians experienced under former President Olusegun Obasanjo. Already Nigerians are breathing a sigh of relief as Yar’Adua in the past two months has now begun gradually and certainly to show that he is his own man. The style is the man.

What defines the man conditions what he does, or says or how the public responds to him. If there is any concrete change in the Presidency that we can speak of, for now, it is the change in Presidential style.

President Olusegun Obasnajo was an authoritarian leader who left no one in doubt that he was in charge. For him, every occasion provided an opportunity to advertise the supremacy of his office. Even when this was absolutely unnecessary, he went out of his way to behave in an imperial manner. It was as if the then President needed to reassure himself of his achievement and pre-eminence at every hour, every minute and every second. Discussions with him often ended up, it was said, as a monologue in which he alone was the wise one. Any sign of independence or expression of an alternative view point was shot down from the imperial throne.

There were many demonstrations of this style in the public arena. Obasanjo once asked a Christian cleric, a high-ranking official of the Christian Association of Nigeria (CAN) to shut up. On another occasion, he threatened top flog someone who disagreed with him publicly. At a meeting in London he also reportedly threatened to slap a fellow for asking a question that he considered rude.

Journalists who took part in “The President Speaks” media encounters suffered terribly in his hands. He bullied them, booed them or asked them to sit down, stand up or get out. This the leader-knows-it-all tendency and style soon became a key factor in that government’s policy processes. The Presidency became the nation’s centre of gravity. It overruled the courts of the land, obeying the courts only when it was convenient to do so. Special advisers were advised to keep their ideas to themselves. Political appointees were constantly reminded that they were at the mercy of the President.

One other Nigerian leader had been described severally as being Machiavellian but I suppose no other leader in Nigerian history has been more Machiavellian than Obasanjo. Between 1999 and 2007, he was in many ways, the archetypal Prince.

One major advantage of his style though is that Obasanjo provoked civil society into action and expression. By pushing his own views and choices so vigorously without any care in the world, about whose ox was gored, about the popularity or otherwise of his actions, Obasanjo energized the rest of us to challenge him, to counter him, to knock him heavily in a battle of ideas and wills. We were invariably playing his own game but the gain was the creativity that his style unleashed in the public arena, with the more progressive camp insisting on the right of the people to know, to be heard, to choose, and to live in an open and good society under the rule of law. Our protest against the Obasanjo style was tiring as the man was unyielding till the last moment.

This curious leader-people dynamic was further complicated by the emergence of mini-Obasanjos in the corridors of power. A group of Ministers and Advisers, hidden economic hit-men, self-promoting patriots, the know-it-all gang which also thought that the best way to serve the people was to bully them. Their arrogance was insufferable and infuriating. They were poor imitators; for they differed from Obasanjo in an essential respect: they lacked Obasanjo’s common touch, his wit and humour, his predictability, naturalness and native intelligence which often won him the admiration of even his most ardent critics. Obasanjo’s style may have been ambivalent, his methods may have been vague, but for the most part, the people knew where they stood with him. There wasn’t much that he did that surprised the average Nigerian.

With President Yar’Adua, there appears to be some form of clarity and simplicity and the public appears to be somewhat excited. The new President may not be a fantastic campaigner on the political platform; he may not make quotable statements that would be transported from lips to lips for weeks on end. He may not be bale to break out in an expansive dance in response to the rhythms of drum and song; he certainly may not have great stories to tell about the past and the future of Nigeria.

But we can conclude that this is not a President who will threaten to slap, flog or frog-march people. He does not look like the kind of President and he is not behaving like one, who will walk people out of his office. Or ask people to shut up, sit down, or stand up as if these were the nicest words in the English dictionary. His manners are mild. In close to 60 days in office, no one can trace any act of viciousness or word of antagonism to him. President Obasanjo had hardly settled down in office when he told everyone who supported his election campaigns not to expect any favours from him! Umaru Yar’Adua does not even hug the limelight. He is so self-effacing, so soft-spoken, you may be tempted to sympathise with him.

He had assumed office on May 29 with the promise that he will be a servant-leader. He seems to be working hard at this aspiration. His body-language is according to his early admirers, pleasant. You could miss him in a crowd of his assistants. Nobody could ever miss Obasanjo’s swagger, imposing presence and power-grunts. It is perhaps a function of Yar’Adua’s style that in two months he has been able to handle a number of controversial incidents, including the quiet dismantling of Obasanjo’s spheres of influence without attracting much attention to himself or his likely long-term motives.

After what seemed like an initial bout of stage-fright, he reversed the increases in the pump prices of petroleum products and VAT.

The sale of the Kaduna and Port Harcourt refineries had also raised much dust. Without making the powerful owners of Bluestar Consortium lose face, Yar’Adua provided them a soft landing by allowing them to withdraw their purchase of the refineries with a threat that they were giving the NNPC one year to turn around the refineries “or else”. But or else what? Quietly also, Yar’Adua managed to put an end to the face-off between government and ASUU. When the Supreme Court gave a ruling which rendered the April 2007 Gubernatorial elections in Anambra state null and void, the Yar’Adua Presidency made no attempt to stand in the way of the apex court. Under Obasanjo, either the Presidency or the ruling party could have overruled the Supreme Court.

Yar’Adua has also ordered the release of the remaining part of the withheld funds due to local councils in Lagos state. He has also named Lagos one of the two Presidential retreats that will be used by his government. This is the same Lagos that President Obasanjo dismissed as a “jungle” and turned into a victim of partisan politics.

It should not be too difficult indeed to see why President Umaru Yar’Adua appears to be winning in the style department. But style is not enough. What matters is substance: in terms of performance and quality of service delivery. If the Obasanjo government had succeeded in delivering the much demanded “dividends of democracy”, not many people would have complained about style; they would have been satisfied with a trade-off. Mild manners and simplicity may make a leader attractive but that is no guarantee of quality performance in office. In the First Republic, Prime Minister Tafawa Balewa was a simple and modest man. But under his watch, Nigeria imploded.

In the Second Republic, President Shehu Shagari was a man of few words and excellent manners.

But his government, right before his eyes, was hijacked by a profligate and influential cabal. General Buhari as Head of State was reticent, his second-in-command Tunde Idiagbon did more of the talking, and yet the rule of law suffered under his government. When General Babangida first showed up, his toothy smile endeared him to Nigerians, but his government ended up mortgaging Nigeria’s future. General Sani Abacha was so taciturn, everyone considered him the dumb General. But he soon showed Nigerians that no one should judge a book by its cover. Human history is full of so many leaders who started their careers as men of style and decorum but who ended up as terrible rulers. Are we not trusting President Yar’Adua too early, too soon? President Obasanjo had in fact foreseen the comparison that is now being attempted when he declaimed as follows: “Umoru does not talk. His style will be different. But he will react.”

President Yar’Adua style as defined is actually a reaction to his environment, his circumstances, and the grandeur of his office.

Could he be that he is treading softly, knowing that there are cases in court which still have to be determined before he can sit confidently as Nigeria’s President? Is he so gentle and so self-effacing because he is still having stage-fright? He is carrying out the most important assignment of his life. He is now on the big stage. He was born with a silver spoon in his mouth, and everything that he ever did in his life came to him on platter of gold.

He inherited houses from his father and his brother. He went to school as a privileged child; he was made a state commissioner even when he did not want it. He became Governor of Katsina state for eight years without any hassles, and his brother’s friend decided to make him President of Nigeria. Is it not possible that what is being termed style is actually the case of a man still trying to adjust to his new surroundings?

Running Nigeria is such a complex assignment that can bring forth hitherto uncharted depths of a man’s character. Yar’Adua is a leader we still need to watch closely, lest his style sways us and we abandon our role as sentinel.

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At Last Ministers In Nigeria

authordonne4real | July 26, 2007

After almost three months, we now have ministers in Nigera. Here is the list of ministers:
1. Attorney-General/Minister of Justice: Mr Michael Aondoakaa (SAN)
2. Agriculture/Water Resources: Abba Sayyadi Ruma
3. Agriculture/Water Resources: Adamu Maina Waziri (State 1)
4. Commerce/Industry: Chief Charles Ugwu
5. Commerce/Industry (State): Ahmed Garba Bichi
6. Culture/Tourism: Adetokunbo Kayode
7. Culture/Tourism (State): Aliyu Idi Hong
8. Defence: Yayale Ahmed9. Defence (State): Mrs Fidelia Njeze
10. Education: Igwe Aja-Nwachukwu
11. Education (State 1): Agada Anthony Jerry
12. Education (State 2): Mrs Aishatu Jibril Dukku
13. Energy (State): Power Mrs Fatima Ibrahim
14. Energy (State) Petroleum: Henry Odein Ajumogobia
15. Energy (State) Gas: Odusina Emmanuel
16. Environment/Housing: Mrs Halima Alao
17. FCT: Dr Aliyu Modibbo Umar
18. FCT (State): Sen. John Akpanudoedehe
19. Finance: Dr Shamsuddeen Usman
20. Finance (State): Aderemi Babalola
21. Foreign Affairs: Ojo Maduekwe
22. Foreign Affairs (State 1): Tijjani yahaya Kaura
23. Foreign Affairs (State 2): Amb. Bagudu Hirse
24. Health: Prof. Adenike Grange
25. Health (State): Gabriel Aduku
26. Information/Communication: John Odey
27. Information/Communication (State): Ibrahim Nakande
28. Interior: Maj.-Gen. Godwin Abbe (Rtd)
29. Interior (State): Hassan Alhaji Haruna
30. Labour: Dr Hassan Lawal
31. Mines/Steel Development: Chief Sarafa Tunji Isola
32. Mines/Steel Development (State): Ahmed Moh’d Gusau
33. Transportation: Mrs Diezani Alison-Madueke
34. Transportation (State): John Okechukwu Emeka
35. Science/Technology: Mrs Grace Ekpiwhre
36. Youth Development: Sen. Akinlabi Olasunkanmi
37. Women Affairs: Saudatu Usman Bungudu
38. Minister/Deputy Chairman National Planning Commission: Sen. Sanusi Daggash
39. Minister/Chairman, National Sports Commission: Abdulrahman Gimba.

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More info on the Access Bank offer.

Check out this Access Bank Powerpoint on their share offer. It seems that they have their acts together.

acccess-share-offer.ppt

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Virgin Nigeria to commence flights to US before December ‘07

authordonne4real | July 25, 2007

Just read now that Virgin Nigeria will commence firect flights to the US from Nigeria before December ‘07. Virgin Nigeria was one of the three airlines that were offered the US route. The others are Arik and Bellview. I hope that the increase in competition on the US routes helps reduce the price.

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Access Bank’s Share Reconstruction

I must admit, ever since I heard about Access Bank’s stock split late last year, I have been apprehensive about their recent return to the stock market to purchase more shares. But the article below on the ProShare blog provides some explanation on the benefits of the reconstruction. It seems that those who held on to their stock after the adjustment have actually seen an appreciation in their holdings. You can Access Bank Analyst Report. Read the article for yourself:

Pre-reconstruction in October 2006, Access Bank had approximately 13.96 billion shares outstanding and the stock was trading at approximately N3.00k. Upon completion of the 1 for 2 share reconstruction, the total number of outstanding shares decreased to $6.98 billion at an adjusted post reconstruction price of N5.98k.

To illustrate, an investor with 10,000 shares pre-construction, had their holdings adjusted to 5,000 shares, but at exactly the same valuation (See schedule in attached report above). The share reconstruction and the subsequent value of investors’ shares have been confusing to many investors, because the impact of the reverse split on investor’s holdings was not properly explained. Majority of Access Bank’s investors are unhappy about the reverse split and the run up in price prior to the announcement of the secondary offering.

However comparatively, it appears that the share prices of other banks that recently completed their secondary offerings surged shortly before and after the announcement of their intentions to raise new funds from the capital markets.The surge in the prices of these shares might have been an intentional mop up by the institutions, or by smart investors buying shares ahead of the offering to enable them sell into post offering up swing.

However, a review of the value of investors portfolio post reconstruction through the technical suspension by NSE in the trading of Access Bank shares on May 18, 2007, indicate that investors who held on to their shares post reconstruction experienced a significant appreciation in the value of their portfolio.

ILLUSTRATION:An investor with 10,000 shares pre-split at N3 paid N30, 000 (10,000 x 3 = N30, 000) originally for the shares. After the 1 for 2 reverse split, the investor received 5,000 share at N6 still valued at N30, 000 (5,000 shares x N6 = 30,000). If the investor did not sell the 5,000 shares received from the split, the shares are worth N96, 640, a gain of N66, 600 or 222% as of May 18, 2007. Even at the discounted offering price of N14.90, the portfolio gain is N44, 500 or 148.3% post reconstruction as indicated in the schedule in the report above.

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EFCC On The Lose, Optimistic Nigerians

After some lull, EFCC is now back - It has secured an order to seize the Kalu’s properties and they are now ready to resume case against new Abia State governor, Theodore Orji. Nnamani flown to Lagos for trial.And in another interesting article in NY Times, Nigerians were the most optimistic of all African countries surveyed. 69% of the Nigerians surveyed expect that their children would be better off than today.

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At last, ministers in Nigeria

At last, a total of 39 ministers will be sworn in. That is after almost 60 days without any ministers.But I have to wonder, why do we need up to 39 ministers?

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Resources for increasing your knowledge portfolio

authordonne4real | July 23, 2007

I am big believer in the need for conscious effort towards consistent personal development. I believe part of the problem in Nigeria is low accessibility to development materials. Books are usually scarce and expensive when available. And Internet access is not the best in the world. However, I have found some extraordinarily useful Internet resources. My numero uno is the OpenCourseWare (OCW). Universities in the OCW consortium (such as Notre Dame, Johns Hopkins, and MIT) provide free access to different course resources such as syllabus, assignments, reading notes, etc. You basically have access to everything the students of these universities and classes had access to while they took the class. There are also powerpoint presentations available.Some additional resources include:

  1.  Autodidacts - This site lists different resources available. There are links to free online classes, documentaries, language classes, free software for students, and references. 
  2. Textbook Revolution - This site is a repository of freely available books. There are books available for engineering, management and even sciences. And the list keeps growing. 
  3. Lifehacker Links - The article in the blog, LifeHacker, lists some additional free educational resources. The website, lifehacker.com is a mine of resources. The blogger always lists some wonderful bits of information every now and then. I have made it a habit of checking the site everyday for new resources. I am sure that you will find it helpful also. Another useful post on this blog is the Free Educational Resources Roundup post. 
  4. The Personal MBA - The premise of the Personal MBA program is that through investment in developing yourself by reading and practice, you can be much more productive than someone who gets an MBA. At the end of the day, you will be better developed than someone who spends all that money getting an MBA. While that is debatable, the resources listed on the site are very helpful. The list of recommended books on the site can be downloaded here.

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Videos on Nigeria

authordonne4real | July 22, 2007

Here are some interesting videos I found on YouTube. They are very thought-provoking: 

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Making progress

authordonne4real | July 17, 2007

As I sat today, I pondered on what one needs to do to become great. Here are some questions I think we need to ask ourselves and answer:

  • What do I want to achieve in life?
  • Which people do I want to impact?
  • How do I want to impact these people?
  • What do I need to do to impact these people?
  • How can I ensure that the maximum number of people are impacted?
  • What are those little foxes in my life that will prevent me from impacting as many people as possible?
  • What are those things that I can do to ensure that I impact as many people as possible?
  • Who are those people I need to relate with who will help me to achieve my God-given dreams?
  • What do I want to achieve in the next day?
  • The next week?
  • The next month?
  • The next quarter?
  • The next 6 months?
  • The next year?
  • The next 5 years?
  • The next decade?
  • What am I doing now that I need to stop?
  • What am I doing now that I need to continue? What am I doing now that I need to improve on?

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Chile Flogs Nigera 4-0

authordonne4real | July 15, 2007

Chile flogged Nigeria today in the Quarter Finals of the U-20 competition. It is so sad. Imagine 3 goals in the second half of extra time. The former coach, Samson Siasia was correct when he said that we should not expect too much from this team. How can we expect to win competitions when we dont practice and when the resources arent provided for the team. One day one day, we will learn and start to prepare well for tournaments.

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