Buying in the eye of the storm




Shares of US insurer Travelers were up sharply and this boosted the Dow Jones US Insurance Index which was up; ahead of Hurricane Irma making landfall. I think this also bodes well for QBE Insurance today, which has tested historical support in recent weeks, and is overdue a technical bounce.

A big technical bounce in QBE Insurance is overdue.

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One of the features was a 6.1% gain in South32, a stock in which we hold a core position in the Global Contrarian Fund and in the Australian Managed Account Portfolios. South32 has enjoyed strength in the silver price, given it owns the Cannington deposit, one of the biggest in the world.

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Disclosure: The Fat Prophets Contrarian Fund declares a holding in QBE and S32.

Carpe Diem!

CEO | Fat Prophets
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