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Re: Re: [sharechat] WORKING AT THE COAL FACE - QBE result

From:	"G Stolwyk" <stolwyk@wave.co.nz>
Date:	Sat, 17 Mar 2001 13:15:24 +1300

Peter,

Thanks.

I concur with your observations. QBE is a master in " helping out " distressed companies, eg. HIH.

Their latest agreement with HIH to secure 60% of their Corporate Insurance book is a brilliant move; they are bound to buy the other 40% from the receiver!

QBE has managed to expand to a great extent by buying undervalued or distressed companies at bargain prices.

Therefore, the price of QBE ought to rise whenever there is another Australian casualty: Investors need to be STOCK - SPECIFIC !

The current year is one of consolidation but it won't stop QBE from picking up a few juicy plums!

Current price: $A 11.06, could reach $A 12.50 + at the next - interim - announcement in September.

That was an interesting article in the BRW - Thanks!

Cheers,

Gerry

( Holds QBE )

Readers: Please refer to my post of March 14: " WORK......."

Web site: < www.qbe.com.au >

Disclaimer. Readers are not asked to buy, hold or sell any shares; to do so will be at their own risk. Above mentioned content is my opinion - Gerry

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