----- Original Message -----
Sent: Saturday, March 17, 2001 7:21
AM
Subject: Re: [sharechat] WORKING AT THE
COAL FACE - QBE result
Gerry - yes, it was a
fantastic result for QBE .
Beating expectations is a real
feat these days. This indicates a fair degree of certainity about future
earnings forecast and for that alone the QBE share price deserves some small
premium.
They seem pretty bullish about
about the future. As you have pointed out the real benefits of their recent
acquisitions are still to come through. The timing of these acquisitions seem
to have been spot on to date.
Good little cartoon of the QBE
boss standing at a bus stop waiting for a bus - in context of his salary being
only $700K, which is pretty small for the size of the company he is running.
Plenty of options though and on the performance of QBE looks like he deserves
them. Probably this reflects the inner culture of the
place.
Back in January I said the
charts indicated a level of $11.50 to $12.00 mid year. In spite of
uncertainity in world markets and the recent demise of HIH still see no reason
why this prediction shouldn't stand.
Interesting
overview of the Australian insurance sector in this weeks Business Review
Weekly
Have a good
weekend
Peter
See IRG research reports
