Looking back at NCBA Investment Bank January 2022 Stock picks

In January 2022, NCBA Investment bank released an Equity market review(See attached), and with it, gave some Stock recommendations. With benefit of hindsight, today we evaluate how much an ordinary investor would have made (or lost) if they had invested in that portfolio.

Below is an excerpt of the recommendations.

As of today. after factoring in transaction costs of approximately 2%, the following are the returns:

An investor with an equally weighted portfolio of the above recommendations would have lost 11.61% over that period.