casual day - friday, page-35

As far as IAG goes Wayward ,not really . Insurance companies aren't really my cuppa though I did take a position in QBE when they just got too cheap.IAG delivered almost a 200% rise in EPS last year and managed to go down subsequently . Such is the nature of the business that the better off you're going the closer you are to the next catastrophe .I see the MD gave a rather sanguine outlook for this year which may have contributed and then you have the debt not helped by the purchase of the Wesfarmers business.

On the basis of where the SP currently is they're remarkably cheap if they can approximate the 2012/13 result which would put them on a yield equivalent to the banks.The first half result was in line with this and I see that there's some interest in the stock now that they're bedding down the acquistion . You obviously see a rebound at this point ??

MND I don't follow but their last two announcements are extremely positive whichever way you look at it . I've been wondering for a while when we might see the bottom in the mining services companies and ,not that I'd know ,but the charts of MND,LCM,ANG,BKN and to a lesser extent WOR look like they are potentially about to turn up . Do you have any thoughts ?