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Ericsson
#121 Posted : Thursday, February 15, 2018 3:48:59 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#122 Posted : Thursday, February 15, 2018 5:31:38 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#123 Posted : Thursday, February 15, 2018 6:53:28 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


Christopher Kirubi has taken retirement.You will not see him again actively negotiating deals on behalf of centum
James Mworia is nearly jumping out of the ship
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Spikes
#124 Posted : Thursday, February 15, 2018 7:07:49 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


Christopher Kirubi has taken retirement.You will not see him again actively negotiating deals on behalf of centum
James Mworia is nearly jumping out of the ship


Why do you think James Mworia will jump out of the ship? Will he jump out Cyton's Edwin Dande style of chopping off Britam's side hustle business ?
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Ericsson
#125 Posted : Thursday, February 15, 2018 7:16:11 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Spikes wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


Christopher Kirubi has taken retirement.You will not see him again actively negotiating deals on behalf of centum
James Mworia is nearly jumping out of the ship


Why do you think James Mworia will jump out of the ship? Will he jump out Cyton's Edwin Dande style of chopping off Britam's side hustle business ?


Centum has peaked
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#126 Posted : Thursday, February 15, 2018 10:24:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
@ericsson - Why do you say so about Centum? [Details, please. I have some in my portfolio]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Horton
#127 Posted : Friday, February 16, 2018 6:55:43 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


GMC was offloaded
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Ericsson
#128 Posted : Friday, February 16, 2018 9:35:00 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Horton wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


GMC was offloaded


GMC wasn't offloaded.It's GM America which sold it's stake to Isuzu Motors.
Centum and ICDC stake still instant
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Horton
#129 Posted : Friday, February 16, 2018 9:47:59 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ericsson wrote:
Horton wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


GMC was offloaded


GMC wasn't offloaded.It's GM America which sold it's stake to Isuzu Motors.
Centum and ICDC stake still instant


Oh yes. I misread. They marked it down by 1.6B
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Ericsson
#130 Posted : Friday, February 16, 2018 10:23:53 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Horton wrote:
Ericsson wrote:
Horton wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


GMC was offloaded


GMC wasn't offloaded.It's GM America which sold it's stake to Isuzu Motors.
Centum and ICDC stake still instant


Oh yes. I misread. They marked it down by 1.6B


What about the Rea Vipingo land,by how much is it overvalued
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Horton
#131 Posted : Friday, February 16, 2018 12:13:55 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ericsson wrote:
Horton wrote:
Ericsson wrote:
Horton wrote:
VituVingiSana wrote:
Ericsson wrote:
Pesa Nane wrote:


The last surviving member of the Peter Mwangi and Tony Wainaina team has taken a bow

But that she was there [& even promoted] for quite some time post-Mwangi would mean she was upto speed. Not sure what has changed.

I like Centum despite its challenges.
It is not a core holding but a "Tier 2" holding and one I have bought at close to current prices.
I have to say that the acquisitions made under JM have been smart e.g. Two Rivers, Vipingo, etc.
The portfolio is heavily geared towards property development BUT there are excellent firms in the portfolio e.g. Almasi, GMC, etc that are regular cash-generators.
Land/Property sales are sporadic whereas beverages, etc have more predictable cashflow. There is a case for both for Centum.
Then there is Nabo with a decent AUM which generates fees and potential investors in their other projects.

The wild card is CK i.e. he can call folks who will pick up his call...
This scenario is similar to Warren Buffett at Berkshire Hathaway...

Of course, James Mworia is young and can steer Centum for a while. He is a known quantity and can also call folks to get to the heart of a deal.

The board seems strong and competent. I like the management [despite the drama over compensation] which has consistently delivered market beating returns on NAV.
The share price is a different ballgame i.e. Share prices do not always track Intrinsic Value.
Unga [NAV/share is 50]
KK [Solid earnings machine]
Berkshire [which said they would do a buyback]
KenRe [NAV/share is +75% the price]

What's Centum's IV? I think it is north of 60/-


GMC was offloaded


GMC wasn't offloaded.It's GM America which sold it's stake to Isuzu Motors.
Centum and ICDC stake still instant


Oh yes. I misread. They marked it down by 1.6B


What about the Rea Vipingo land,by how much is it overvalued


740k per acre is not so bad. Especially if u compare like for like. Compare the prices at vipingo ridge etc. alot of the land is also beachfront
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Horton
#132 Posted : Friday, February 16, 2018 3:03:11 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
This 1 of those stocks I am sure will outperform.

As someone has already said, the metrics look good. There is moat and margin of safety
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Ericsson
#133 Posted : Friday, February 16, 2018 6:51:11 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Horton wrote:
This 1 of those stocks I am sure will outperform.

As someone has already said, the metrics look good. There is moat and margin of safety


Not with jubilee manifesto
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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