By Peter Egwuatu
Against the backdropÂ of the global financial meltdown which led to losses incurred by investors in the Nigerian capital market and financial industry generally, TNBT Capital Limited has concluded arrangement to train capital market operators, financial analysts investment bankers and operators in the pension funds with a view to updating their skill on valuation modeling that would provide investors opportunity to make reasonable investment decision.
Project Director, TNBT Capital Limited, Mr. ED Ubong disclosed this to capital market reporters in Lagos at the weekend, saying, â€œ All is set to commence financial modeling and stock valuation training for stockbrokers, investment firms, financial organizations and individuals and pension funds operatorsâ€
He disclosed that TNBT Capital would be inviting Wall Street Prep, a leading financial training firm that provides hands on public seminars and E- learning services to top investment firms, financial organizations, leading corporations and individuals.
According to him, â€œ Our clients include the Fortune 1000 companies in the world. World TNBT Capital is partnering with Wall Street Prep to bring this premier financial training to Nigeria. This is unique from other financial training as only those register online via www.wallstreetprep would participate in the training.â€
The training according to Ubong is a four-day intensive course package that would transfer Wall Street financial modeling skills and tools to serious participants.
He emphasized that Nigerian investment advisers lacked in-depth skill to come out with appropriate valuation modeling for the stocks listed in the Nigerian capital market, which resulted to many investors losing money during the financial meltdown.
According to him, â€œ Many stocks were overvalued while some were undervalued to the extent that investors were lured to invest without understanding the value of the stocks they had invested in. Though, many foreign investors who got good advice from their portfolio managers did divest when there was no clear fundamentals driving the market. It is as a result of the gap that exists in terms on investment analysis and valuation modeling that we are organizing this training. The training will commence in January 2010.
Meanwhile, Ubong disclosed that Stanbic IBTC, FSDH, Financial Derivatives, Cowry Assets Management, among others have indicated interest to participate in the skill acquisition training.
According to him, â€œ We hope that in the next few months financial analysts in the country would be able to build financial model that would guide investment decision. There is risk in every investment and investment advisers should know that high-risk attracts high returns.