Chris Weston

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.


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