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What's the Worst mistake and/Best decision you have made in the NSE todate?
Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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In the nineties, bought 1000 Dunlop (Silly Olympia today) at 104 shillings each. They offered a bonus of 4:1 and the price skyrocketed to 500 shillings. Went to ShahMunge and Partners to sell. A Kamuindi fulani working there saw me placing the order and remarked to Anthony (guy taking my orders), "Am lucky not to have been born black, there is something wrong about there genes. Instead of adding more shares of Dunlop, they are selling". Anthony agreed with him and advised me not to sell. Then Matu Wamae and his clan bought the outfit and the rest is history. By the time I eventually sold, they were doing kendo 40 bob each. Out of 104k, I could have realized 500k plus but ended with less pain. Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Im new to stocks trading, but thus far the worst mistake ive done was buy KQ at 53.00, immediately after the announcement in june, ive been so tempted to sell at a loss since. But i hate losing money, but who knows one of these days i might tip. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Surealligator wrote:In the nineties, bought 1000 Dunlop (Silly Olympia today) at 104 shillings each. They offered a bonus of 4:1 and the price skyrocketed to 500 shillings. Went to ShahMunge and Partners to sell. A Kamuindi fulani working there saw me placing the order and remarked to Anthony (guy taking my orders), "Am lucky not to have been born black, there is something wrong about there genes. Instead of adding more shares of Dunlop, they are selling".
Anthony agreed with him and advised me not to sell. Then Matu Wamae and his clan bought the outfit and the rest is history.
By the time I eventually sold, they were doing kendo 40 bob each.
Out of 104k, I could have realized 500k plus but ended with less pain. We have been around for a while! I know both the jamaas you are referring to! Amish Gupta - Moved to CFC Financial as CEO/Manager - Then to SIB Antony Mugo - Moved to CFC Financial (after AG had left) as Deputy Manager - No idea where he is now BTW, Dunlop was very profitable & conservative until michael matu & his mzee bought it. Downhill all the way for the rest of the minority shareholders! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: New-farer Joined: 6/17/2010 Posts: 71 Location: Kenya
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sparkly wrote:@shauri i don't see how selling shares to buy a car can be a worst mistake. In any case the number of people who have successfully timed the market is very small. I guess my worst was dealing with a broke broker, lost me some chums, about 20k which was lots of money for me then. @sparkly Thats because I know the car, I met the running and meintenance costs and I know me. Simply put it was a car I did not need. It had a young strong heart but was encased in an old mans body. @sss How I wish I had your wisdom gathered through the years. When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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.[/quote]We have been around for a while! I know both the jamaas you are referring to! Amish Gupta - Moved to CFC Financial as CEO/Manager - Then to SIB Antony Mugo - Moved to CFC Financial (after AG had left) as Deputy Manager - No idea where he is now BTW, Dunlop was very profitable & conservative until michael matu & his mzee bought it. Downhill all the way for the rest of the minority shareholders![/quote] So you knew kina Gideon, Brian Muchiri, and some other sh*t there? Man, we need to share a Mbuzi sometime in the near future. If the Mbuzi I offered McReggae and someone else materializes, you should be in the team. (If KCB rights issue works, I will have plenty of cash to splash around). By the way, I picked a 1000KK shares after reading that you've been around this long and said, what the f***, I might as well know the company better. Lakini this Chairman/CEO issue does not go down well with me. I hate people who think they are the only ones who can save the world. Now that I have a foot into the company, I will raise hell to get that guy divided into two. Board of directors under a chairman are the ones who give orders to a company. So, the CEO follows those orders and if he fails, is fired or kicked out. So, how can you be the boss and employee at the same time in such a corporate scenario? Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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Best decision was sticking to shares instead of getting into Bonds and stupid Unit Trusts. Stuck to shares and now moving to real estate and transport. Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Surealligator wrote:
So you knew kina Gideon, Brian Muchiri, and some other sh*t there?
By the way, I picked a 1000KK shares after reading that you've been around this long and said, what the f***, I might as well know the company better
Where is Brian? South Africa? I can't recall Gideon but all this is many years ago! Unakumbuka Monica? You will not go wrong on KK. Lakini, it will take a few months coz the KPRL issue needs to be resolved! I am sure KK will make a play for some of BP's Africa assets. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/13/2006 Posts: 15
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@shauri, Thanks just wise, not old.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Worst Decision
Not buying 10,000 Equity shares when they started trading on NSE, because the price had gone up by 5 bob. The broker got me 2,000 shares at 140 and when the price went up by 5 bob, I told him that is too much let wait for it to come down. ofcourse Equity went on to issue bonus shares and we all know what happenned!
I still made mistakes on equity when I bought it at 300. I resold the shares at 265!
I recently made some other huge blunders by buying Kenya Re at 13 based on 3rd quarter results.
Selling my safcom at 3 bob!
Not buying MSC when it was below 4!!
Best decisions
Buying Access at IPO and post IPO and selling when the price hit 26.
Buying CiC during private placements and immediately thereafter. I am sitting on capital gain of about 50% and handsome dividends. Northwithstanding now, the shares are almost unvailable.
Buying Stanbic Uganda at UGx 120 at the time the exchange rate was 1KES = UGx 29. I rode on capital appreciation and currency gains
Buying CFC at KES 43 and selling at 85
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Rank: Veteran Joined: 6/17/2009 Posts: 1,619
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@sss,counters at par value? Life must be one big party for you.
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Rank: New-farer Joined: 6/17/2010 Posts: 71 Location: Kenya
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sss wrote:@shauri, Thanks just wise, not old. @sss I just thought that if you were into stocks in the 70's then you have wisdom and a few years on you. My appologies. My other worst decision was getting into Uchumi about a month before it went under based on "broker advise". I still painfully hold 10,000 units. When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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Rank: Veteran Joined: 10/25/2007 Posts: 1,574
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I was a young guy at UoN. I did an IT job and got paid some 50k. I did not have urgent use for the cash, so I decided to buy some shares. I went to the famous brokerage, very near campo, and sought to buy some shares. Those days, not many Kenyans bought shares, so the place was empty and they had personalised service! I knew little about shares, therefore the 2 shares I wanted to buy were UcHUMI and KQ, because they were popular. KQ was 7 bob and UCHUMI was 12 bob per share. I still have the Nation newspaper clipping for the previous day's trades. Sentimental value. I told the broker who was doing my trade to buy me some KQ. BUT, he told me UCHUMI was doing quite well and persuaded me to buy! I bought 3000 UCHUMI shares, which are pretty worthless to me right now. I still remember the guy at that brokerage; his name starts with an A. I should have stuck to the KQ I had chosen to buy. It rose to 120 in the next few months. FIRST lesson of investment learnt the hard way. During the KENGEN IPO, I was pretty wisened up by then. I got alloted 6431 maximum shares THRICE (I used my 2 brothers as proxies). I sold at 39 bob on first day of trading. I still insist, there shall never be an IPO like KENGEN. Simply fantastic cash! Set out to correct the world's wrongs and you will most certainly wind up adding to them.
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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indeed none like kengen walala. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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VituVingiSana wrote:Surealligator wrote:
So you knew kina Gideon, Brian Muchiri, and some other sh*t there?
By the way, I picked a 1000KK shares after reading that you've been around this long and said, what the f***, I might as well know the company better
Where is Brian? South Africa? I can't recall Gideon but all this is many years ago! Unakumbuka Monica? You will not go wrong on KK. Lakini, it will take a few months coz the KPRL issue needs to be resolved! I am sure KK will make a play for some of BP's Africa assets. He was last at Old Mutual as a fund manager but has since moved to some other financial institution which I would not like to name here as he might recognize me. Excellent boy he was. Monica, I knew her a little bit more than by a hand shake. What about Nyaga guys, starting with Mary the personnel? By the way, ShahMunge is still alive at some building on Kenyatta avenue, either ICEA or Hughes. Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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@Vituz They must be paying Brian at Apex through the nose for him to agree to move from Old M to Apex. Couldn't help it, see the guy here. http://www.apexafrica.com/?pageId=6Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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@surealligator - What do mean Shah Munge is back in action? Or do you mean Shah? I think he works thru Kestrel... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 12/7/2009 Posts: 320 Location: nairobi
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astute wrote:actually, my worst mistake was one time I placed a safaricom order without putting a price limit,..it was bought at 8 bob and then after 2 days it dropped to about 6.5...Thanx God to Cost averaging and long term focus, I have been able to bring this price to 4.80.. Wazuans never never place an order without putting a price limit expecially when dealing with Equity Bank. They will transfer double or thrice the required amount. I think they normally withdraw excess when they are broke only to return later.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Worst decision was not taking up EABL rights at ksh 53. There was a lot of emotion as to how Diageo was fixing us. Today that right would have split 5 times and look at the price!
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Rank: Member Joined: 9/13/2006 Posts: 15
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@shauri We are both right, my Dad was into (buying) stocks since inception and that is where I got my holding from, I was young but got really interested and have built up on them(KCB rights alone was hefty amount)
@cnn yes life is good I was blessed with having a very switched on Dad (Bless him), yes, shares at par and below.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Gordon Gekko wrote:Worst decision was not taking up EABL rights at ksh 53. There was a lot of emotion as to how Diageo was fixing us. Today that right would have split 5 times and look at the price! Heck, I was told by my (now collapsed) broker ati how Diageo was screwing us... I didn't listen to him & I skipped the Rights (cheaper to buy from market @ 51) & made loads of money 2 years hence!!! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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