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Kenya Re - what gives?
Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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enyands wrote:@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red Sigh, kusoma ni bure. You should try it some time. YES, be CAREFUL of GoK controlled firms. As I have said many, many, many times said I have made an exception for KenRe thanks to: 1) The nature of the business [outright theft is harder for a Reinsurance business than say Uchumi/KenGen/KPLC/KQ]. The business has little in terms of procurement [unlike KQ/Uchumi/KenGen/KPLC]. It's investments are mostly a few large properties [already built] and Bonds [Few avenues of corruption]. The business is watched closely by other insurance firms who are mandated to reinsure with KenRe keeping fraud at low levels. It has competition [unlike KenGen/KPLC] so it cannot undercut nor overcharge like crazy. 2) The CEO. I like him & think he is a decent fellow. That said, I will not hold KenRe as a LIFETIME holding coz the CEO will eventually be replaced or retire. I will enjoy the good run while he is CEO. If he leaves, I will likely sell unless the new CEO seems 'clean' too. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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VituVingiSana wrote:enyands wrote:@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red Sigh, kusoma ni bure. You should try it some time. YES, be CAREFUL of GoK controlled firms. As I have said many, many, many times said I have made an exception for KenRe thanks to: 1) The nature of the business [outright theft is harder for a Reinsurance business than say Uchumi/KenGen/KPLC/KQ]. The business has little in terms of procurement [unlike KQ/Uchumi/KenGen/KPLC]. It's investments are mostly a few large properties [already built] and Bonds [Few avenues of corruption]. The business is watched closely by other insurance firms who are mandated to reinsure with KenRe keeping fraud at low levels. It has competition [unlike KenGen/KPLC] so it cannot undercut nor overcharge like crazy. 2) The CEO. I like him & think he is a decent fellow. That said, I will not hold KenRe as a LIFETIME holding coz the CEO will eventually be replaced or retire. I will enjoy the good run while he is CEO. If he leaves, I will likely sell unless the new CEO seems 'clean' too. Now this makes sense. Anyway you know how it goes, when he will stand in the way of hyenas they will get rid of him fast. Let's pray he stays longer together with the cbk guy.i like that guy
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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enyands wrote:VituVingiSana wrote:enyands wrote:@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red Sigh, kusoma ni bure. You should try it some time. YES, be CAREFUL of GoK controlled firms. As I have said many, many, many times said I have made an exception for KenRe thanks to: 1) The nature of the business [outright theft is harder for a Reinsurance business than say Uchumi/KenGen/KPLC/KQ]. The business has little in terms of procurement [unlike KQ/Uchumi/KenGen/KPLC]. It's investments are mostly a few large properties [already built] and Bonds [Few avenues of corruption]. The business is watched closely by other insurance firms who are mandated to reinsure with KenRe keeping fraud at low levels. It has competition [unlike KenGen/KPLC] so it cannot undercut nor overcharge like crazy. 2) The CEO. I like him & think he is a decent fellow. That said, I will not hold KenRe as a LIFETIME holding coz the CEO will eventually be replaced or retire. I will enjoy the good run while he is CEO. If he leaves, I will likely sell unless the new CEO seems 'clean' too. Now this makes sense. Anyway you know how it goes, when he will stand in the way of hyenas they will get rid of him fast. Let's pray he stays longer together with the cbk guy.i like that guy That's why I have said over & over & over again that GoK firms may look to be good buys BUT not for me. I have been burnt eg KQ & KPLC. The current exception [KenRe] is a firm I watch very, very closely. Uchumi was run very profitable by the brilliant Suresh Shah. Then came the succession of crooks who wiped out all the goodwill & profits Suresh Shah made as CEO. Warren Buffett says, invest in a firm an idiot can run coz one day one will. [It was a larger discussion around moats. KenRe currently has a huge moat including the mandatory cessation, capital, bi-lateral agreements that favor it and a brand name. These advantages can be destroyed as well.] If the hyenas get to the current CEO, I will bail out even if I make a loss. I will not fight them. Look at KQ, (old) KCB, NBK, etc. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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VituVingiSana wrote:enyands wrote:VituVingiSana wrote:enyands wrote:@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red Sigh, kusoma ni bure. You should try it some time. YES, be CAREFUL of GoK controlled firms. As I have said many, many, many times said I have made an exception for KenRe thanks to: 1) The nature of the business [outright theft is harder for a Reinsurance business than say Uchumi/KenGen/KPLC/KQ]. The business has little in terms of procurement [unlike KQ/Uchumi/KenGen/KPLC]. It's investments are mostly a few large properties [already built] and Bonds [Few avenues of corruption]. The business is watched closely by other insurance firms who are mandated to reinsure with KenRe keeping fraud at low levels. It has competition [unlike KenGen/KPLC] so it cannot undercut nor overcharge like crazy. 2) The CEO. I like him & think he is a decent fellow. That said, I will not hold KenRe as a LIFETIME holding coz the CEO will eventually be replaced or retire. I will enjoy the good run while he is CEO. If he leaves, I will likely sell unless the new CEO seems 'clean' too. Now this makes sense. Anyway you know how it goes, when he will stand in the way of hyenas they will get rid of him fast. Let's pray he stays longer together with the cbk guy.i like that guy That's why I have said over & over & over again that GoK firms may look to be good buys BUT not for me. I have been burnt eg KQ & KPLC. The current exception [KenRe] is a firm I watch very, very closely. Uchumi was run very profitable by the brilliant Suresh Shah. Then came the succession of crooks who wiped out all the goodwill & profits Suresh Shah made as CEO. Warren Buffett says, invest in a firm an idiot can run coz one day one will. [It was a larger discussion around moats. KenRe currently has a huge moat including the mandatory cessation, capital, bi-lateral agreements that favor it and a brand name. These advantages can be destroyed as well.] If the hyenas get to the current CEO, I will bail out even if I make a loss. I will not fight them. Look at KQ, (old) KCB, NBK, etc. Good food for thought
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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The resistance being shown at 22 bob is quite strong!  Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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guru267 wrote:The resistance being shown at 22 bob is quite strong! Forget 22/-. There are some on offer at 20.50 as of 1.52pm. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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For this counter going below 21 is a hard nut to crack. Resistance ya line 1.2KV iko at 21 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Resistance been slowly broken;today it may close at 20.75 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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VituVingiSana wrote:enyands wrote:VituVingiSana wrote:enyands wrote:@vvs aren't you the same guy who warned people of being careful of govt owned stock? How come hapa you are like the way some politicians say unakaa kama melon.outside you are green but inside you are red By extension, I will buy KenRe and watch VVS closely... Sigh, kusoma ni bure. You should try it some time. YES, be CAREFUL of GoK controlled firms. As I have said many, many, many times said I have made an exception for KenRe thanks to: 1) The nature of the business [outright theft is harder for a Reinsurance business than say Uchumi/KenGen/KPLC/KQ]. The business has little in terms of procurement [unlike KQ/Uchumi/KenGen/KPLC]. It's investments are mostly a few large properties [already built] and Bonds [Few avenues of corruption]. The business is watched closely by other insurance firms who are mandated to reinsure with KenRe keeping fraud at low levels. It has competition [unlike KenGen/KPLC] so it cannot undercut nor overcharge like crazy. 2) The CEO. I like him & think he is a decent fellow. That said, I will not hold KenRe as a LIFETIME holding coz the CEO will eventually be replaced or retire. I will enjoy the good run while he is CEO. If he leaves, I will likely sell unless the new CEO seems 'clean' too. Now this makes sense. Anyway you know how it goes, when he will stand in the way of hyenas they will get rid of him fast. Let's pray he stays longer together with the cbk guy.i like that guy That's why I have said over & over & over again that GoK firms may look to be good buys BUT not for me. I have been burnt eg KQ & KPLC. The current exception [KenRe] is a firm I watch very, very closely. Uchumi was run very profitable by the brilliant Suresh Shah. Then came the succession of crooks who wiped out all the goodwill & profits Suresh Shah made as CEO. Warren Buffett says, invest in a firm an idiot can run coz one day one will. [It was a larger discussion around moats. KenRe currently has a huge moat including the mandatory cessation, capital, bi-lateral agreements that favor it and a brand name. These advantages can be destroyed as well.] If the hyenas get to the current CEO, I will bail out even if I make a loss. I will not fight them. Look at KQ, (old) KCB, NBK, etc. For investors as a whole, returns decrease as motion increases ~ WB
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