{"id":564957,"date":"2021-03-09T13:35:40","date_gmt":"2021-03-09T13:35:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/09\/meet-our-analyst-of-the-week-beltones-abanob-magdy\/"},"modified":"2021-03-09T13:35:40","modified_gmt":"2021-03-09T13:35:40","slug":"meet-our-analyst-of-the-week-beltones-abanob-magdy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/09\/meet-our-analyst-of-the-week-beltones-abanob-magdy\/","title":{"rendered":"Meet our analyst of the week: Beltone\u2019s Abanob Magdy"},"content":{"rendered":"

<\/a> OUR ANALYST OF THE WEEK-<\/strong> Abanob Magdy, associate vice president at Beltone Financial.<\/p>\n

My name is Abanob Magdy and I\u2019ve been at Beltone Financial for the past two years.<\/strong> I started my career at Deloitte as a financial auditor and while it helped me enter the financial field, I wasn\u2019t a big fan of auditing itself. So I decided to do my CFA and I moved to AlexBank which was like being at a financial academy. I learned so much, especially since the bank is a subsidiary of Italy\u2019s Intesa Sanpaolo Group and most departments are led by their Italian counterparts. After four years at AlexBank, I decided to move into investment banking and transferred to Prime Holding for a few months before landing my position at Beltone.<\/p>\n

I currently cover banking and <\/strong>NBFS<\/strong> companies in Egypt and Saudi<\/strong>, but the company has plans to expand into GCC and North Africa in the future.<\/p>\n

The best part of my job is seeing how one\u2019s call yields results. <\/strong>It takes time to be able to hone in on that skill and make effective calls, but once you do, there\u2019s a huge satisfaction in it.<\/p>\n

The worst part of my job is that you always have to be up to date. <\/strong>This also holds true during vacation time. I had to work at a point during my honeymoon and my wife was not happy [laughs]. She knows me well though so she gave me a \u201cbera7tak\u201d and it passed. Work-life balance doesn\u2019t always come easy, but when I can, I try to achieve it by being 100% present in the situation I\u2019m in whether it\u2019s in my personal life or at work.<\/p>\n

My theory of investing is inspired by Warren Buffet.<\/strong> The most important factor to look at in a company you\u2019re thinking of investing in is whether it has a durable competitive advantage which will help it maneuver through tough circumstances. However, you also have to get the timing right. I\u2019m a big fan of Buffet\u2019s quote, \u201cBe fearful when others are greedy and greedy when others are fearful,\u201d which urges investors to buy stocks when there\u2019s a selloff and sell stocks when there\u2019s a hype in the market.<\/p>\n

I\u2019m also an advocate for long-term investing.<\/strong> Waiting out a company\u2019s market cycle allows you to harvest the real value when it's recognized.<\/p>\n

I think the Export Development Bank of Egypt is an undiscovered gem. <\/strong>The EGX30-listed company is on the rise and has great potential in the Egyptian market.<\/p>\n

All things considered, 2020 was not a bad year for the Egyptian economy.<\/strong> Businesses managed to hold themselves somewhat upright and even the volatility in the stock market was more of a representation of who was participating in trading as opposed to trouble in the economy. I think 2021 will see this upwards trajectory continue, fueled by an evident recovery, successful stimulus programs, and a solid banking sector.<\/p>\n

Less travel has made work harder and less efficient. <\/strong>Online work is maybe 60% as effective as face-to-face interaction. I also think roadshows won\u2019t be back for another year and a half at least and with less volume. Many companies are happy with the cost-saving alternatives introduced during the pandemic and are unlikely to go back to travelling.<\/p>\n

Most of my free time is spent reading. <\/strong>The last great thing I read was The Idiot<\/a> by Russian author Fyodor Dostoevsky. Even though it was written in the 1860s, I still feel that I can meet all the characters he described in the novel in my everyday life and feel the same way he felt. He\u2019s quite timeless in that way. Of course, I also enjoyed The New Buffettology<\/a> which looks at the techniques Warren Buffet used to invest.<\/p>\n

I thoroughly enjoyed the TV series <\/strong>Suits<\/a><\/strong>.<\/strong> My favorite character was Harvey Specter, but I also felt that Louis Litt was a very relatable character. When I work I like to listen to classical operas such as Mozart.<\/p>\n

Other than that, I love travelling with my friends.<\/strong> It doesn\u2019t matter what the destination is, but the company you have and the experiences you leave with.<\/p>\n

I\u2019m not a very organized person [laughs]. <\/strong>I try to be when I have to, using to-do lists and the sort, but overall I just like everything to flow naturally and not have certain times to think or do things. If I\u2019m working on a research note for example, I don\u2019t always have a clear idea of where it\u2019s going to go. As I write, my scattered thoughts organize themselves and I\u2019m not afraid of adding last minute ideas. I feel that not being rigid makes me more creative.<\/p>\n

\n

The EGX30 fell 1.1% at today\u2019s close<\/strong> on turnover of EGP 1.2 bn (18.7% below the 90-day average). Regional investors were net buyers. The index is up 4.5% YTD.<\/p>\n

In the green: <\/strong>MM Group (+3.0%), EDBE (+1.7%) and Heliopolis Housing (+1.6%).<\/p>\n

In the red: <\/strong>Abu Qir Fertilizers (-5.1%), Ezz Steel (-2.9%) and Cleopatra (-2.8%).<\/p>\n","protected":false},"excerpt":{"rendered":"

OUR ANALYST OF THE WEEK- Abanob Magdy, associate vice president at Beltone Financial. My name is Abanob Magdy and I\u2019ve been at Beltone Financial for the past two years. I started my career at Deloitte as a financial auditor and while it helped me enter the financial field, I wasn\u2019t a big fan of auditing […]<\/p>\n","protected":false},"author":1,"featured_media":564958,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[812,633,642,236],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-go-with-the-flow","tag-beltone-financial","tag-enterprisepm","tag-go-with-the-flow","tag-warren-buffett","wpautop","entry"],"acf":{"mongo_id":"c0fe71b6-4e06-4919-84e2-59eaf097d4e9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/429.jpg","photo_position":"above","related_issue":[564950],"teaser":"","voice_url":""},"yoast_head":"\nMeet our analyst of the week: Beltone\u2019s Abanob Magdy - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/09\/meet-our-analyst-of-the-week-beltones-abanob-magdy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet our analyst of the week: Beltone\u2019s Abanob Magdy\" \/>\n<meta property=\"og:description\" content=\"OUR ANALYST OF THE WEEK- Abanob Magdy, associate vice president at Beltone Financial. 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Figures (pdf) released by the Financial Regulatory Authority yesterday showed that lending grew 17% y-o-y to EGP 19.3 bn last year, a noticeably slower rate of growth than that\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592583,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/beltone-financial-gets-the-regulators-go-ahead-for-dd-on-cash\/","url_meta":{"origin":564957,"position":1},"title":"Beltone Financial gets the regulator\u2019s go-ahead for DD on Cash","author":"enterpriseam admin","date":"8 August 2023","format":false,"excerpt":"Beltone is now cleared to begin due diligence","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571092,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/beltone-financial-to-finalize-auerbach-grayson-sale-in-3-months\/","url_meta":{"origin":564957,"position":2},"title":"Beltone Financial to finalize Auerbach Grayson sale in 3 months","author":"enterpriseam admin","date":"29 April 2020","format":false,"excerpt":"M&A WATCH- Beltone to complete sale of Auerbach Grayson in three months: Beltone Financial Holding is expecting to wrap up the sale of its 60% stake in New York-based brokerage Auerbach Grayson in the next three months, provided the \u201ccurrent situation\u201d doesn\u2019t disrupt proceedings, the investment bank said in a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570985,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/26\/beltone-financial-sells-us-based-brokerage-auerbach-grayson\/","url_meta":{"origin":564957,"position":3},"title":"Beltone Financial sells US-based brokerage Auerbach Grayson","author":"enterpriseam admin","date":"26 April 2020","format":false,"excerpt":"M&A WATCH- Beltone Financial sells US subsidiary Auerbach Grayson: Beltone Financial Holding has completed the sale of its 60% stake in New York-based brokerage Auerbach Grayson to an unnamed group of investors, the company said in a statement (pdf) on Thursday. The investment bank said the sale will be finalized\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573839,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/beltone-to-launch-three-nbfs-firms-next-month-eyeing-return-to-profitability\/","url_meta":{"origin":564957,"position":4},"title":"Beltone to launch three NBFS firms next month, eyeing return to profitability","author":"enterpriseam admin","date":"19 August 2020","format":false,"excerpt":"Beltone Financial Holding will set up three new non-banking financial companies in September in a bid to return to profitability, CEO Ibrahim Karam said in an interview with Reuters on Tuesday. 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