The market has been quite interesting in the last one month, mostly bearish than bullish. The insurance sector which has been a darling of most investors is gradually becoming a terrain where one has to be careful and circumspect in treading.
The table above shows how we performed based on the stock pick basket suggested earlier in February. No doubt individual performance will be based on what period of the month Purchase and sale was made. Most of the stocks in the basket have gone through a period of highs with a fair number falling back to their price at our February 8 post date; in fact some have actually fallen below the prices of those date. however, during the course of the month, most of the stocks reaching their highs surpassed our projected price range. I hope we were able to take advantage of the projections and more importantly as I am learning by the day, imbibing the discipline of knowing when to sell (ofcourse this advice is only for those playing short term. Medium term to long term players have nothing much to worry about).
Personally, my choice from the stock pick basket gave mixed returns. My best performer was First Aluminium, while Linkage Assurance gave me negative returns. I have recovered slightly from my intial losses in UNTL and Nigerian Wire and Cable. I am still optimistic that these stocks hold great potential in the short to medium term and look forward to bullish tendencies in the next 1 month. The greatest challenge I had during the period was my broker's inability to make my purchase when I tell them, I actually lost significant value based on my orders being executed a week or two after initial orders were placed. It was quite frustrating, though not entirely the broker's fault, but I was tempted to change them during the month.
I will be posting a more robust list for our March/April basket in the next few days.