image: investing.covestor.com
You can access the Excel file here: NSE Daily Trade Data

The Market Highlights:

The market was bullish today. The NSE rose by a whooping 2.10% (it has risen this high only five times this year and three of which were this month!).
The market capitalization rose to N10.05 trillion and the index rose to 2,9064.52 The last time it got this high was on 1st of July, 2016 (almost a year ago!).
Many stocks got to their 52 weeks high today: First Bank, Guaranty Trust Bank, Nestle, Pharma Deko, Presco, Tourist and Zenith Bank.
The top gainers were: First Bank (10.14%), Oando (7.66%), Guaranty Trust Bank (5.00%), Ecobank (5.00%), Zenith Bank (4.99%), Flour Mills (4.98%), AXA Mansard (4.97%), Airservice (4.48%), Eterna (4.87%), PZ (4.76%), Jaiz Bank (4.40%), Fidelity Bank (4.12%) and Okomu Oil (4.11%).
The top losers were: Mobil (-5.00%), Learn Africa formerly Longman Nigeria (-4.94%), NAHCO (-4.93%), Vitafoam (-4.92%), AFRPAINTS (-4.86%), Cadbury (-4.85%), NEM (-4.67%) and NPF Microfinance Bank (-3.82%).

What do I think?

I think this is just the beginning. Over the last 10 years, the economy has roared on and inflation has been double digits and company profits have been growing impressively but the stock market has been doing the opposite. Most companies are selling at huge discounts.








image: youtube.com

You might be wondering, "Is that possible?" or "Does it make any sense?" "How can I do all I can and still do more?" "If I do all I can then there should be nothing more to do."

Well, I don't know if it is theoretically possible. But I can definitely tell you that it is practically possible.

Whenever you feel you have done all you can, the truth is that you can still do more. And, in fact, I want you to make a habit of doing more. Do all you can and then do more.

If you've got a goal, be it a career goal or a family goal or a personal goal, and you have done everything required but you are not getting the result you are expecting. Then you begin to feel despondent and want to give up because you are sure you've done all you can. Well, today, I am telling you to cheer up and do more. 

If you have dreams and ambitions you have given up on because you were not seeing results when you vigorously pursued them. Today, I am telling you to wake up those dreams and ambitions, and re-pursue them.

Today, I am preaching to you. And that is a sign that the world is about to come to an end or what I am saying is dead serious. Actually, I think it is both.

Whenever you are faced with multiple choices, you should always pick the choice with the best potential returns. If I have tried hard at a goal and feeling frustrated, I have two choices -- to quit and stop the pain or to continue and keep the hope of reaching the goal alive. At that juncture, I evaluate the worth of the goal. Is it a goal that will make the gain worth the pain or a goal that is not really the pain? If it falls under the worth the pain category, I ignore every current feeling of frustration and let go of unhelpful memories and do more. 

I don't get disturbed that others are doing way less than I am for the same thing. I don't even compare my progress with another's, I just keep giving it all it takes to achieve the desired results. Every time I have done all I can, I hit the reset button and start with fresh efforts like anew. As long as I stand to gain more from achieving the goal than quitting, I don't let any feeling of frustration hold me down and I don't let any memory of disappointment last long.

For the people I love and the things I genuinely want, I do all I can and then do more.

image: templatesold.com

Now I parade myself as an expert in Excel for business data analysis. I am already sewing the parade clothes for the self proclaimed title Python and R data analysis expert. But if you ask me for my Excel credentials most of what you will see there are things I did when I was not yet an expert.

The one thing that is better than being an expert is creating value. And anyone can create value with whatever level of knowledge they have.

What if I told you that my Excel journey seriously started in October 2011? What if I told you that I was not an Excel expert when Microsoft awarded me the Microsoft Most Valuable Professional, making me the only one in Africa with the award? What if I told you that all the amazing jobs I did for foreign clients and multinationals in the beginning, that ultimately gave me the boldness to venture out on my own as a full-time independent consultant, were just because I put myself out there as available? What if I told you that even my bestselling Excel book and internationally acclaimed Udemy course were compilation of contents I created when I was unknown and not an expert?

If you look at my life it is easy to think a lot is going well for me and I will gladly say amen to that. But if you ask me, I will tell you the one thing I can attribute most of the little I have accomplished to is my choosing of being impressive rather than to impress. 

"What is the difference?" you might ask. It is that I would rather let my work speak for me that try to package myself as the real deal. I would rather create genuine value than promises of value. I would rather do something of value without pay than create marketing materials that will portray me as a value creator.

If you create value, whether you are an expert or not will be immaterial. Have you come across the Mark Angel and Emmanuela comedy series? They are the most popular Nigerian comedy outfit on YouTube. Have you tried asking yourself if they are experts or value creators? If you haven't, well now is the time to do. The obvious answer, going from the poor video quality of most of the shootings and low budget, is that they are no experts. They are purely value creators and that is what got them ranked way higher than even the experts.

Everyday, I try to get back my creative pre-expert days. The days I created pure value by huge volume rather than now that I am trying to live up to my expert status.

If you are not yet an expert in a field you have deep passion for and some knowledge, I congratulate and envy you. You have the golden chance to create pure value without distractions. I hope you are not looking down on yourself and delaying creating works of value. Don't waste this period. Share whatever little you know. Create value in whatever way you can. Because when you finally become an expert it is those works you created during your formative years that will be the solid credentials/portfolio you will point to.

If you've noticed I have been making more Python and R posts lately than Excel posts. Well, it is because I am again using that approach to set myself up as an expert in Python and R. And when that label finally sticks and I can parade myself shamelessly as a Python and R expert, guess what body of work I would be pointing to? If you've not skipped any sentence till now then you'll guess right.



I have problem with saving money. If I have more than N300,000 in my regular savings account, in 24 hours I will have a dozen different ideas of what to do with the money. Trying to permanently solve this problem was what motivated me to become a professional stocks investor some years ago. The only account I allow more than N300,000 in is my emergency account which I don't touch except there is an emergency.
And my regular savings account? One good side of being a data geek is that I am excellent at budgeting. I have my expenses perfectly modeled and I always keep just what is sufficient for three weeks in my savings account. My income cycle is two to three weeks, being an entrepreneur in the consulting space. From what is due me, every extra above what is sufficient for four weeks, I put in my investment accounts which house a mix of Nigerian stocks, Nigerian bonds, US stocks, US bonds, Gold and two Nigerian equity mutual funds.
So what stocks am I invested in?
Nestle Nigeria: Over my investing years, I have analysed intensely the financial records of all the investment worthy companies on the Nigerian Stock Exchange from as far back as 2005 and none has an impressive one as Nestle Nigeria. Excellent cash flow management, lovely mix of debt and equity funding, satisfactory revenue growth rates and strategic positioning in their industry. Every year, I go through their annual reports and as long as the story has not changed for bad, I close my eyes to all the price fluctuations it is forced through on the stock market.
Total Nigeria: Last month I sold Mobil and bought Total. I had made a good profit off the price surge in Mobil shares after the NIPCO acquisition and Total looked like a bargain in comparison. Total is the largest downstream oil company by revenue in Nigeria. Now they are trading at a deep discount compared to Mobil. So I saw more potential returns in deploying to Total the money tied in Mobil.
Dangote Cement: It can be very difficult to love Aliko Dangote after hearing all the special perks he got from government to build the Dangote empire but one thing I can't deny is that he is a result-generating business man. I read the annual reports of many listed companies but none is as interesting and less generic as Dangote Cement's. I have learned some business strategies from reading the chairman's report while other companies' tend to have the usual soul-less talk about the macro economy and vague talk of their impressive performance (even when they make a loss). Reading last year's and the intelligent analysis of the African cement market with the company's detailed big strategy, it was like Dangote Cement is just getting started. He is the quintessential owner-manager who goes all length to make his business successful.
Zenith Bank: I bought it after I panicked and sold my First Bank shares when they were taking too long to publish their last year annual reports. Now I am planning to buy First Bank shares again and try not to panic anymore. But I don't intend selling my Zenith shares either. Zenith Bank is doing impressively well, like GTBank but without the terrible customer experience GTBank is sharing. One almost sure way of ruining my day is having to do anything in a GTBank branch and if you ever need to get an issue resolved you can be sure that you'll get more inhuman policies thrown at you than the feeling of having another human being helping you. They've got solid walls between the employees and customers. See how easily I veer into giving damaging remarks about GTBank. That's how powerful the negative effect their lack of good customer relations leave on me. So I won't touch their stocks even with free money.

My non-stock owning

  1. US Bonds: I sold off my S&P 500 ETF last year December and put half the fund into US Bonds. I believe the US stocks are close to experiencing a market correction.
  2. Vanguard Total International Bond Index Fund ETF: This is where I put the other half. It is a collection of non-U.S. dollar-denominated investment-grade bonds.
  3. Gold ETF: Two months ago I panicked and sold my Emerging Market Stocks ETF, putting the fund into Gold ETF. The Emerging Market Stocks were getting too positively correlated with the US equities market this year. So I decided to put it in the negatively correlated (to US equities) Gold ETF.
  4. Nigerian Bonds: Through Stanbic IBTC Bond mutual fund, I have some money invested in Nigerian bonds. I avoid the Money Market funds as I believe I will get better long term returns elsewhere.
And how is my strategy of not saving but investing working out? I think very well. At least, I am more prudent in managing my income and immune to binge spending. Also, I have made some good gains in the stock market.
What tools do I use in my Stocks analysis? Well, the annual reports of thelisted companies which I have nicely archived here; this lovely Power BI stocks analysis dashboard and the Nigerian Market Data office app.