QBE

One of my biggest drags after GFC is QBE. I expected it to jump because equities have risen in value. Instead, nothing. In fact, not nothing but continuing downward trend.

I did sell a parcel last year at $18+ when I was so disappointed with it. The management is held in high regards but why is the share price not performing? Yesterday, I read that the prospect is getting worse. Why? Most of its investment is in the USA where the government is printing money. AUD is appreciating so that makes QBE's foreign income less attractive.

So I have sold all my QBE. I am looking at MGY.... and keeping some cash for capital gains tax. The good news for QBE is that it will become a takeover target but I am moving my money onto the small cap resources.