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VituVingiSana		#821 Posted : Sunday, September 02, 2018 8:03:16 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		sparkly wrote: obiero wrote: VituVingiSana wrote: obiero wrote: xxxxx wrote: Ericsson wrote: the deal wrote: Damn this thing is worse than I imagined... Wooow Learn to listen 👂 when advised Did any one see the optimistic statement by the board in today's papers? I did and would not expect them to say anything else but that. Leadership is all about giving hope, especially when there is none Agreed. Joseph and Mikosz are the best at this. The rest e.g. Paunrana should learn from them. It would be difficult to convince a rational person that nothing good is happening at KQ in regards to the turnaround. ARM on the other hand Both are monkeys, just accept. Kabisa! I deviated from WB's teachings and took a position (albeit a small one relative to my Core Holdings) in ARM. It took me 3-4 day after the suspension to "NPL" it. Heck, I fully provided for it. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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xxxxx		#822 Posted : Sunday, September 02, 2018 8:55:04 PM
Rank: Member Joined: 3/20/2008 Posts: 503		VituVingiSana wrote: sparkly wrote: obiero wrote: VituVingiSana wrote: obiero wrote: xxxxx wrote: Ericsson wrote: the deal wrote: Damn this thing is worse than I imagined... Wooow Learn to listen 👂 when advised Did any one see the optimistic statement by the board in today's papers? I did and would not expect them to say anything else but that. Leadership is all about giving hope, especially when there is none Agreed. Joseph and Mikosz are the best at this. The rest e.g. Paunrana should learn from them. It would be difficult to convince a rational person that nothing good is happening at KQ in regards to the turnaround. ARM on the other hand Both are monkeys, just accept. Kabisa! I deviated from WB's teachings and took a position (albeit a small one relative to my Core Holdings) in ARM. It took me 3-4 day after the suspension to "NPL" it. Heck, I fully provided for it. Some monkeys are more monkeys than others.
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sparkly		#823 Posted : Sunday, September 23, 2018 10:25:27 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		CDC's interests in ARM are longterm. https://www.standardmedi...oot-in-sh14b-arm-venture Life is short. Live passionately.
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obiero		#824 Posted : Sunday, September 23, 2018 12:56:42 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,223 Location: nairobi		sparkly wrote: CDC's interests in ARM are longterm. https://www.standardmedi...ot-in-sh14b-arm-venture Very dramatic reading..
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Ericsson		#825 Posted : Sunday, September 23, 2018 8:11:53 PM
Rank: Elder Joined: 12/4/2009 Posts: 10,808 Location: NAIROBI		obiero wrote: sparkly wrote: CDC's interests in ARM are longterm. https://www.standardmedi...ot-in-sh14b-arm-venture Very dramatic reading.. Good insight Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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VituVingiSana		#826 Posted : Monday, September 24, 2018 7:27:57 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		"CDC wanted to change the terms of a six-year convertible note from Nigeria’s Africa Finance Corporation (AFC) which would translate to about 13.2 per cent equity and thus water down the CDC stake. Read more at: https://www.standardmedi...sh14b-arm-venture" Question: How would that water down CDC's stake given there must have been a conversion price as long as the conversion price the same or higher than what CDC paid? 5bn for a 13.2% shareholding would have valued ARM at 38bn 6bn (including penalties) for a 13.2% shareholding would have valued ARM at 45bn Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#827 Posted : Monday, September 24, 2018 7:32:27 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		“CDC wanted to do their own fundraising, but as time went we had the short repayment schedules piling,” Paunrana said. Then ARM sought to engage a development finance institution (DFIs) to help it restructure the debts but the conditions were unpalatable to CDC. " Read more at: https://www.standardmedi...ot-in-sh14b-arm-venture What does this mean? Did CDC want to be the primary lender to ARM? Or did CDC want to negotiate with the other DFIs? Wouldn't CDC have been part of the team that negotiated with the DFIs? Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#828 Posted : Monday, September 24, 2018 7:35:40 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		"Between May and June, the management put across a proposal for restructuring loans by cutting at least Sh5 billion and improving Tanzania’s cash flows but the talks fell through in the second round." Read more at: https://www.standardmedi...ot-in-sh14b-arm-venture This does not make sense or is incomplete. How would management cut 5bn from the loans? ARM either sold off or planned to sell off part of the business to Omya. Did this sale include a 5bn debt owed by the chemicals subsidiary i.e. Omya would have assumed 5bn in debt? Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#829 Posted : Monday, September 24, 2018 7:43:24 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		"Under the terms, CDC would put in money but as a shareholder loan which they wanted to ring-fence, giving the facility a Super Senior Security status which would rank above the existing lenders." Read more at: https://www.standardmedi...ot-in-sh14b-arm-venture This makes sense to me from CDC's point of view. If CDC was going to give 5bn in NEW money then why shouldn't they get the senior-most position for that 5bn? I would assume any lender giving ARM additional NEW money, as a loan, at that low point would want to "top dog" to recover their funds first. That 5bn would have been critical i.e. as working capital to restart the business. Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Fyatu		#830 Posted : Tuesday, September 25, 2018 2:28:50 PM
Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru		Hujuma.................. LINK More detailed article Kila mbuzi ale kwa urefu wa kamba yake....tafakari Dumb money becomes dumb only when it listens to smart money
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