Mobil Oil Nigeria Up; Exiting S&P 500.

, , 1 comment
In four (trading) days I've seen my Mobil Oil Nigeria shares rise from 188 naira per share to 241 naira per share. And it is because NIPCO is taking over Mobil Oil Nigeria. I've always read it in the books and seen it happen to other people's shares, but this time I'm part of those caught up in it. When a company is being acquired, its share price rise. Even the rumor of it being acquired raises the share price, like it did for Twitter shares some weeks back when it was rumored that Salesforce was considering buying Twitter.

The practical effect has been a handsome spike in my portfolio performance (gain).

This week I shuffled my US investment. The S&P 500 has been rising worryingly recently. I read through a thorough analysis of it's current state vs historical average and the conclusion is that a market correction is near. The P/E ratios are now sky high. The growth has been overexaggerating the economic and underlying asset performance. So I sold all my shares on the Vanguard S&P 500 index fund and in the SPDR Energy Select ETF. I am planning to wait out the bull period that I feel is ending. I have put the money in US Bonds, Emerging market bonds and Emerging markets shares.

I am now very frugal in my lifestyle. Investing as much as I can. For the Nigerian market, I am doing purely stocks and picking them myself. I have put an hold to adding money to my ARM Discovery mutual fund and I have taken out almost all the money in my ARM money market fund. All new addition goes into my stockbrokerage account and I now use Meristem (no longer ARM as I've been having issues with their trading platform, plus Meristem has phone app). One can't eat his cake and have it.

1 comment:

  1. Hello, interesting write up. I am looking to invest in the S & P 500 index fund and having challenges purchasing it. I need to know how you got yours.


You can be sure of a response, a very relevant one too!

Click on Subscribe by Email just down below the comment box so you'll be notified of my response.