MEMBER'S SPOTLIGHT RECAP: MR OTUKOYA OLUWAESAN JAMES INVESTMENT JOURNEY
Introduction:
- Name: Otukoya Oluwaesan James
- Profession: Primary School Teacher
Early Inspiration:
- Year: 1995
- Inspiration: Mr James' interest in the stock market was sparked by his Commerce teacher, Mr. Alawode, during his SSS 3 class. This early exposure led him to pursue further knowledge about stocks.
First Steps:
- Newspaper Exploration: After completing SSCE, Mr James frequently visited newspaper stands at Dugbe and Adeoyo roundabout in Ibadan to read about the stock market.
- Work Experience: His job as a shopkeeper further deepened his understanding, as his boss was also an investor, exposing him to annual general meeting (AGM) notices.
First Investment:
- Year: 1997
- Investment: Mr James bought shares in Cooperative Bank's public offer. Despite initial misconceptions about immediate returns and dividend frequency, he continued to invest, purchasing shares in Savannah Bank and Amicable Assurance.
Challenges:
- Lack of Resources: During the late 1990s, reliable resources for evaluating stocks were scarce, limiting his ability to make informed decisions. This led to investments in companies like Savannah Bank, Amicable Assurance, and Nigerian Wire and Cable, which he later regretted.
- Emotional Investments: He also faced challenges from investing based on emotion rather than solid financial analysis.
Investment Philosophy:
- Long-Term Focus: He identifies as a long-term investor, prioritizing companies with strong fundamentals. He is unfazed by short-term price fluctuations but takes profits when necessary.
- Profit Strategy: He tends to take profits when a stock appreciates by over 50% within two months or when there's a significant increase in value. He also monitors quarterly financial performance to minimize losses.
Sector Preferences:
- Long-Term Holdings: He prefers banking, telecommunications, building and construction, and food and beverage stocks.
- Petroleum and Gas: He has also invested in petroleum and gas companies like Total Plc, Conoil, Oando, Seplat, and Eternal Oil.
- Banking Stocks: His banking portfolio includes GTB, Access Bank, UBA, and Stanbic.
Market Downturn Experience:
- Market Meltdown: Mr James experienced a market downturn but was encouraged by his broker, who had forewarned of the coming meltdown.
Advice to New Investors:
- Stock Market Reality: Mr James advises that the stock market is not a place for quick profits but requires careful research. He also highlights the benefits of attending AGMs, where he once got elected to the audit committee of Flour Mills of Nigeria.
Current Portfolio:
- Stock Holdings: He holds shares in companies such as Access Bank, UBA, Stanbic, MTN, NACHO, Dangote Cement, Custodian, Conoil, Total, Presco, Oando, Okomu Oil, Fidelity Bank, Flour Mills, UCAP, Wapco, FBNH, Wema Bank, NPF Microfinance, Julius Berger, and CAPL.
Conclusion:
- Appreciation: Mr James expressed gratitude to the administrators of the platform for the opportunity to share his investment journey and experiences.
Introduction:
- Name: Otukoya Oluwaesan James
- Profession: Primary School Teacher
Early Inspiration:
- Year: 1995
- Inspiration: Mr James' interest in the stock market was sparked by his Commerce teacher, Mr. Alawode, during his SSS 3 class. This early exposure led him to pursue further knowledge about stocks.
First Steps:
- Newspaper Exploration: After completing SSCE, Mr James frequently visited newspaper stands at Dugbe and Adeoyo roundabout in Ibadan to read about the stock market.
- Work Experience: His job as a shopkeeper further deepened his understanding, as his boss was also an investor, exposing him to annual general meeting (AGM) notices.
First Investment:
- Year: 1997
- Investment: Mr James bought shares in Cooperative Bank's public offer. Despite initial misconceptions about immediate returns and dividend frequency, he continued to invest, purchasing shares in Savannah Bank and Amicable Assurance.
Challenges:
- Lack of Resources: During the late 1990s, reliable resources for evaluating stocks were scarce, limiting his ability to make informed decisions. This led to investments in companies like Savannah Bank, Amicable Assurance, and Nigerian Wire and Cable, which he later regretted.
- Emotional Investments: He also faced challenges from investing based on emotion rather than solid financial analysis.
Investment Philosophy:
- Long-Term Focus: He identifies as a long-term investor, prioritizing companies with strong fundamentals. He is unfazed by short-term price fluctuations but takes profits when necessary.
- Profit Strategy: He tends to take profits when a stock appreciates by over 50% within two months or when there's a significant increase in value. He also monitors quarterly financial performance to minimize losses.
Sector Preferences:
- Long-Term Holdings: He prefers banking, telecommunications, building and construction, and food and beverage stocks.
- Petroleum and Gas: He has also invested in petroleum and gas companies like Total Plc, Conoil, Oando, Seplat, and Eternal Oil.
- Banking Stocks: His banking portfolio includes GTB, Access Bank, UBA, and Stanbic.
Market Downturn Experience:
- Market Meltdown: Mr James experienced a market downturn but was encouraged by his broker, who had forewarned of the coming meltdown.
Advice to New Investors:
- Stock Market Reality: Mr James advises that the stock market is not a place for quick profits but requires careful research. He also highlights the benefits of attending AGMs, where he once got elected to the audit committee of Flour Mills of Nigeria.
Current Portfolio:
- Stock Holdings: He holds shares in companies such as Access Bank, UBA, Stanbic, MTN, NACHO, Dangote Cement, Custodian, Conoil, Total, Presco, Oando, Okomu Oil, Fidelity Bank, Flour Mills, UCAP, Wapco, FBNH, Wema Bank, NPF Microfinance, Julius Berger, and CAPL.
Conclusion:
- Appreciation: Mr James expressed gratitude to the administrators of the platform for the opportunity to share his investment journey and experiences.