HiPoor performance by Kirk, both in the Open Briefing and in the...

Hi

Poor performance by Kirk, both in the Open Briefing and in the conference call. Seems to be a lot of excuses at the moment: but bottom line is that (a) CIX is losing traction, and (b) CIX underperformed the benchmark fixed interest returns. Reinsurance blamed - but that does not explain the overrun on operational (transitional) costs and the lack of general performance.

Good company, good break-up value. BUT currently stagnating and could really slump if they don't extract the digit. Shame noone had the gumption to ask some really hard Q's yesterday - soft Q's, poor answers. Gut feeling says that a reshuffle may soon occur towards the pointy end of the CIX building...

Watch this space I think. Still think 30-32 is buying zone, but you need to bank profits when you see them. No longer willing to make an outright long-term call to be honest: when the chips are down CIX just seems to count them, not pick them up.

Disappointed.


Kit