Index down 30%+
You know the pain in individual stocks when the leading index like DJIA or NIFTY is down 10%. Around 14 times in the previous century, the index has been down over 30% or more.
For Kenya and Nigeria that time is NOW. NSE20 index and Nigeria Index is down 40% as I write. You can imagine the plight of individual stocks.
I feel the next six-twelve months will continue to be bad for Kenya and Nigeria (Especially given the black market rates for NGN). But this is also the time to pick up opportunities, if not now then in 2017.
Tanzania has had a good run with its new President, John Magufuli playing tough with corrupt regime.
Meanwhile India has not had a major correction since 2008, and second one earlier in 2016, that was more of a global pull down.
Of most interest are the un-correlated independent downturns in specific companies and countries, its where the opportunity to outscore exists.