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Sameer Africa likely to pull EaCable stunts!!
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underweight
#1 Posted : Thursday, February 10, 2011 12:25:13 PM
Rank: Member

Joined: 1/25/2009
Posts: 184
Location: For now El-Fashier - Darfur
Last financial year despite dismal performance, Sameer Africa issued a 50 Cent dividend. This year though they issued a profit warning they are likely to pull an East Africa Cables stunt. What your take on this? Ova to you Wazuans....
"A bad decision made now is beta that a good one made later!!"
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mlennyma
#2 Posted : Thursday, February 10, 2011 12:42:34 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
The guy who needs the lessons from ea cables is jonathan somen of acceskenya although he is a very rigid man to concede defeat.
"Don't let the fear of losing be greater than the excitement of winning."
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the deal
#3 Posted : Thursday, February 10, 2011 1:30:11 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I will never touch Sameer even if they give a 5 bob dividend...
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Aguytrying
#4 Posted : Thursday, February 10, 2011 1:57:04 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Nice one deal. Investing in some companies is just asking for trouble. And we know them!
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#5 Posted : Thursday, February 10, 2011 2:26:38 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,351
Location: Nairobi
I would buy Sameer for a 5/- dividend if the share was 4/-...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Tommy
#6 Posted : Thursday, February 10, 2011 2:56:31 PM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
I want to enjoy my sleep everyday, Sameer is a no no for me. I think that i will abscond anything that has Meralli in it.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Gatheuzi
#7 Posted : Thursday, February 10, 2011 6:34:54 PM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
I once made money in the the Firestone, but that was in in 2005, just b4 they divorced bridgestone. Those were the days coz we used to get a decent interim and a final.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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VituVingiSana
#8 Posted : Saturday, February 12, 2011 2:29:03 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,351
Location: Nairobi
sameer is run by merali. This means only he will make money. I went to an AGM once. He is a smooth operator.
- Offers sodas & lunch to the shareholders.
- Takes photos with shareholders.
- Makes nice speeches.
- Plays to the crowd.
- Serious questions are batted away. When it is time for questions, you can see the food coming out. Most shareholders do not care about the accounts. It's the 'free' lunch.

Bottomline: He figures what the heck! He can continue skimming since no-one wants to criticize the guy who gives them lunch!!!

Look at the accounts. So many 'related-party' transactions.

Sameer Tyres could have built the Business Park but merali gave Sameer Tyres 25% & directly owns 75% of the Biz Park!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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erifloss
#9 Posted : Saturday, February 12, 2011 1:41:27 PM
Rank: Member

Joined: 6/21/2010
Posts: 514
Location: Nairobi
The best description of an evil genius. Look at how he cashed in on Kencell even while making losses and how they took over EA Cables when Gichuru was at the helm of KPLC.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Silk
#10 Posted : Saturday, February 12, 2011 3:37:41 PM
Rank: Member

Joined: 8/25/2008
Posts: 144
He is a 'smooth operator', and you don't want to be near him otherwise you can only be the victim.
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