I think in a weird way "investors" hate predictable...

I think in a weird way "investors" hate predictable companies.

Westfield Group (WDC) is as predictable as they come. 95% occupancy rate, long term contract. The share price does not move that much.

The WDC chat is dead forum compared to QBE.

Why? Because when something is predictable, you can't make quick money on it. You can hold it for years and get steady dividend, but most people invest in stocks for the thrill and the fun of gambling on the unpredictable. Else, they'll put their money in deposits/bonds.

Soros write interesting concept about this called reflexivity, where market's opinion becomes self fulfilling prophecy in a feedback loop.

If most people thinks that a company is going broke, the chance that it actually goes broke will increase as its credit rating drop, suppliers demand security and faster payment, new clients won't get into long term contract.

If people think a company is going to do very well, the share price increase, and the company can issue new shares at higher price, making the success a self fulfilling prophecy.