Forum Archive Index - October 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

My last comment was immediately after the WTC attack.

QBE is one of the stocks in the " Working at the coal face series".

 

( At a personal level, I originally gave it a weighting of 3 against 3 for CLH and 4 for LACO ).

 

The shares dived from $10 to below $4; nobody expected this to happen!

However, as was the case with CLI, friends and I bought back in @ $5.40.

 

We are fortunate as there is a 1:5 cash issue @ $5.50 going at the moment. There is also the right of further subscription at the same price. 

 

The impact of the measures taken, has substantially reduced losses and the current $6.90 share price is well above the $5.50 cash issue price.

 

Future intentions: No further action needed.

I remain confident that QBE's reorganisation and reweighting of risk management will produce results.

 

Gerry