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Safaricom: time to sell as Michael Joseph to retire at the end of 2010
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VituVingiSana
#31 Posted : Friday, March 19, 2010 1:44:07 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
@GG 5 cents x 40bn = 2bn... That is more than my entire clan's net worth!!!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Nandwa
#32 Posted : Friday, March 19, 2010 1:50:09 PM
Rank: Veteran

Joined: 11/17/2009
Posts: 1,049

Despite the prevailing bull run, safaricom has been rather quiet.
Can we point fingers here.
Just as absolute power corrupts leaders, so does absolute fanaticism blind the people from logic
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mapengo
#33 Posted : Friday, March 19, 2010 1:53:27 PM
Rank: New-farer

Joined: 1/20/2010
Posts: 27
Location: kenya
change is good it the high time we got someone new at that place. i appreciate that MJ has done alot for the company but it time to leave hi legacy intact..
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guru267
#34 Posted : Friday, March 19, 2010 3:10:13 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Nandwa wrote:

Despite the prevailing bull run, safaricom has been rather quiet.
Can we point fingers here.


@nandwa safcom already had its price rise most of last year and this current bull run belonged to the laggard stocks of the market... safcoms price is obviously waiting for the results though it might rise a bit more just before
Mark 12:29
Deuteronomy 4:16
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Gordon Gekko
#35 Posted : Friday, March 19, 2010 5:03:08 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Let me argue my point differently. Scon lost less than 1% of its value on the news of the retirement. @fundaah made it worse by saying the drop was due to other forces, not MJ. This means MJ has no 'CEO effect' on scon. So why have we always said that scon = MJ and MJ = scon???
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VituVingiSana
#36 Posted : Friday, March 19, 2010 5:12:21 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
@GG - Just the news... not even the actual retirement causes 2bn drop... that is saying something?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Intelligentsia
#37 Posted : Friday, March 19, 2010 5:55:49 PM
Rank: Elder

Joined: 10/1/2009
Posts: 2,436
GG & VVS, you are onto something there....is there any precedent in the markets where a dip is experienced on the actual date of the handover? In short, can we say that's it, when we are done and dusted the market merely shrugged off MJ's departure as inconsequential?
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reithi
#38 Posted : Friday, March 19, 2010 6:00:18 PM
Rank: Member

Joined: 1/12/2007
Posts: 75
Safcom = MJ/MJ = Safcom. This is the testimonial of any employee.

Safcom is where it is today because of MJ through his has hands-on management approach to all aspects of its operations and bare knuckle - no holds barred approach towards the competition.

Will the new CEO have these traits or pick them up? It is very unlikely but the new CEO might come up with other better strategies.

Apple runs from the blood of Steve Jobs. His health has been pivotal to Apple, both on technology and market value. The detachment of MJ and Safcom is therefore overdue.

Unfortunately, its value will take a hit until his successor can show his ability to maintain or improve the state of affairs.

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ProverB
#39 Posted : Saturday, March 20, 2010 9:52:51 AM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
when Eric Kimani left sameer question was does a company make a man or the man the company? same when mugo kibati left EA Cables, same was the uchumi inside trade when he left kcb... I know there is no parallels here but...

Mj really fouled up when sometime last year got into jet hoping to "lure" foreigners to invest in safcon share. It is NOT the business of CEO's to excite shareholders!..bottomline...superprofits are unsustainable..with all the media circus safcom has done in advertising over 2009..i'm really keen to see what the impact on profitability is..

Whatever the financials..divide by 40 freakin billion..then see how many shares u need to have inorder to get a satisfatory proprtion in earnings..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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  | | Edit by user: Saturday, March 20, 2010 10:05 AM | Reason: Not specified
sheep
#40 Posted : Saturday, March 20, 2010 10:02:30 AM
Rank: Veteran

Joined: 7/24/2008
Posts: 781
yep! by all metrics Safcom is overvalued.
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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