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CIC by yaserbigchair
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hisah
#71 Posted : Thursday, July 26, 2012 10:01:56 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Seems the floor is going to be defended. I was expecting it to test sub 4/- but bids are now taking over.

I hope it can test 3.50 for a bucketload scoop... smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mwekez@ji
#72 Posted : Thursday, July 26, 2012 11:02:13 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
yaserbigchair wrote:
still trades at premium.

I wouldn't mind to buy it at 3.50. although I would be very greedy for the 2.7-3.00 mark and I am sure they are going to announce a better result probalbly over 20% more than the previous one ie may be 700M after tax.

Reasons:
1. Insuring the Jua Kali sector.
2. Improved NSE Index.

I am watching!


True CIC is trading at a premium unlike the old guard insurance companies in the bourse. Many will say that CIC has potential and i will ask doesnt the other insurance companies have potiential. IMHO, CIC is best for traders during this period. Investors should shop elsewhere or wait for the picture to be clearer.

FYI, better performance of NSE will not improve CIC performance because CIC is not invested in the market. However, other factors other than NSE will.

The trading side of me is watching!
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Hunderwear
#73 Posted : Thursday, July 26, 2012 11:16:34 AM
Rank: Member

Joined: 4/14/2011
Posts: 639
This gem traded on the OTC for above 70 shillings since last year.The 1st quarter results were great.The 75% of shares are not tradable.It has a strong management and assured business in the name of cooperative movement.To top it all it is the only insurance in kenya making underwriting profit(this i overheard and cant confirm).If as an investor you are not prepared to pay a premium for this the you can as well forget about investing.The best would be to buy before a floor is established and sit tight.Should half year result come out on the positive the premium to pay will be prohibitive.Or so I think and stand to be corrected
Disclaimer;I own a chunk of this stock.
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mwekez@ji
#74 Posted : Thursday, July 26, 2012 11:36:53 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Hunderwear wrote:
...it (cic) is the only insurance in kenya making underwriting profit(this i overheard and cant confirm).


Get the facts and stop relying on hearsey!

Check Table 13 in this Association of Kenya Insurers report and you will know who the Kings of Insurance are. To condense it, Jubilee is King, followed by Chartis Kenya, followed by ….. Notice CIC underwriting profit is not even half of Jubilee Underwriting profit! And we still haven’t started talking about investment income!

http://www.akinsure.or.ke/publi...I_Annual_Report_2010.pdf

.
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  | | Edit by user: Thursday, July 26, 2012 3:35 PM | Reason: link
Kausha
#75 Posted : Thursday, July 26, 2012 12:14:14 PM
Rank: Member

Joined: 2/8/2007
Posts: 808
let's stop hyping this, any insurer with motor vehicle and medical in it's books constituting more than 50% is a monkey stock, it can only have market share growth and shrinking profit margins. CIC has done very well because of these two classes. This worries me because somewhere ahead once the cycle matures you will see a struggle in growth of profitability. Only reprieve is that they are also pushing some life insurance. All in all though I would stay away from CIC until 2 bob.
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VituVingiSana
#76 Posted : Thursday, July 26, 2012 12:27:22 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
Not my cup of tea at this price!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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theycallmekinG
#77 Posted : Thursday, July 26, 2012 1:42:52 PM
Rank: Hello

Joined: 2/15/2012
Posts: 6
i bought a few at 4.20/- and a few at 4.0/- if it goes lower i ll keep topping up small amounts to reduce my average cost... hope this plan of attack works...
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bird_man
#78 Posted : Thursday, July 26, 2012 2:45:55 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
@Hunderwear,
Half year results announcement ni lini?
Formally employed people often live their employers' dream & forget about their own.
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FUNKY
#79 Posted : Thursday, July 26, 2012 2:53:59 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
Half year results will be announced sometime in August probably.
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PKoli
#80 Posted : Thursday, July 26, 2012 9:33:49 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
bartum wrote:
it will be much liquid in the next 5yrs.
seems it has bottomed out
RADING
time(desc) prev. close share. trans last price Kshs percent
15:11:55 4.35 4,815,800 4.25 -0.10 2.3%
15:11:55 4.35 0 4.25 -0.10 2.3%
14:57:05 4.35 0 4.25 -0.10 2.3%
14:55:53 4.35 58,000 4.30 -0.05 1.15%
14:53:45 4.35 500 4.30 -0.05 1.15%
14:53:31 4.35 20,000 4.30 -0.05 1.15%
stats
total deals 89
total turnover 20,606,576
avg price
high price 4.35
low price 4.15
last price 4.25
shares volume 4,815,800
LAST 7 TRAN

@bartum,

why do you think CiC will be more liquid in 5 years?
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