IAG has already been inundated with flood related claims but their maximum loss due to such events is $95mn, not good news for a stock that’s already significantly underperformed over the last 3-years. We exited the position for our Income Portfolio nearer to $5 and we see no reason to wade back in at this stage.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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MM is neutral IAG
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