Bobadah,This is where we disagree. I think the last time we...

Bobadah,

This is where we disagree. I think the last time we agreed that QBE is a stock worth holding was on 23rd August 2013, when the June 2013 report was disclosed.

It was utterly shocking result, way under estimated EPS; and was totally unexpected.

You may think that "Oh this is a good ship, it's just that it is run by bad captain".

But

1. So was Titanic.

2. I don't believe the CEO wins matches. This myth that leader s make and break the company is overrated. As Buffett said, he wants company that can be run by ham sandwich because sooner or later, it will be run by ham sandwich - and he's an insurance major player.

3. If the company can turn around, then I'll buy it AFTER it turns around, at higher price. Turnaround is as rare as frogs turning into prince after getting kissed.

(in fact my major holding at the moment is a turn around company which I'm watching closely at the moment in fear that it might go 360 degrees)