Aug 11 (Lagos) - Last Friday saw a decline in the NGX which ended a rally that started below the 120K mark. We are now above 145K and that decline was needed to re-set the temperature a little bit.
The valuation of many companies is still far below what it used to be prior to the huge Naira devaluations over the past 10 years. For example in 2014, some of these stocks were actually higher in real value terms than they are at now even though they are at all time highs.
So keeping that in mind, bulls will be back to re-start the rally because this is still early for many investors especially the long-term investors who know how much they have lose in this market in the past 15 years in real value terms.
Long term investors deserve to be indifferent after what we have gone through over the past 10 years. Newbies coming in thinking this is easy have no idea what it takes to succeed in this 'game'. As more faceless investor forums pop -up , new investors will have to be careful about what decisions they take.