any exposure to sovereign debt default?, page-2

Big Frank has mentioned a few times no QBE exposure to the PIGS or any european bank that failed the recent stress tests.

I think the recent downturn is based on the recent sentiment and performance of the US economy. Shorters have been having a field day with the negative sentiment.

Also, a 45% DRP/BSP takeup by shareholders suggests there was significant personal interest in keeping the share price down during this time.

I expect if we get no other global catastrophes or financial meltdowns, we should see a gradual SP appreciation towards $16 by end of year.