Goldman Sachs (on buying QBE) - The crucial question is: does this (i.e the big falls of late) offer enough of a risk discount to compensate investors for buying the stock at current levels? In our view, the short answer is: not yet, unless you are particularly bearish on the outlook for the $A. Rationale: the stock's multiples are now looking reasonably attractive by Australian market standards; but they are only back in line with global peers.
Chris joined IG as a sales trader in 2006, having worked previously at Morgan Stanley, Credit Suisse and Merrill Lynch, gaining exposure to both equity and fixed income trading. After accruing 15 years' experience in financial markets, Chris...
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