AMP - AMP Limited

[sptrawler]

One would think David Murray has decided a rebuild on the core superannuation business, is in order.
It is obviously a good platform, that has been tarnished, probably will take a few years to build confidence again.
Having the cash on hand to pay any penalties, will also be better than trying a capital raising, in the current climate. So it will be late next year before any phoenix comes out of this one.IMO
But if the product is good, people have short memories, possible bottom draw share.

 

[JTLP]

One would think David Murray has decided a rebuild on the core superannuation business, is in order.
It is obviously a good platform, that has been tarnished, probably will take a few years to build confidence again.
Having the cash on hand to pay any penalties, will also be better than trying a capital raising, in the current climate. So it will be late next year before any phoenix comes out of this one.IMO
But if the product is good, people have short memories, possible bottom draw share.

This is what I’m thinking. You’re selling the offcuts for decent sums, you can use this buffer against any claims / penalties. So you’re getting the superannuation business for nix. There’s brand reputation damage, but this can be fixed over time and with a simplified business, have no doubt it will.

 

[Garpal Gumnut]

The old adage with AMP was buy at $4 and sell at $8.

I guess that's out the window now that it is a different beast.

gg

 

[Darc Knight]

Other Super funds are having trouble keeping up with inflows apparently. Inflows as a result of AMP.

 

[Garpal Gumnut]

Other Super funds are having trouble keeping up with inflows apparently. Inflows as a result of AMP.

These old goat companies are run my muppet directors.

I guess it will be buy at $2 and sell at $4 from now on.

I do wish they would appoint directors to major companies who know what they are doing. It's not much to ask for $225,000 a year in some cases.

gg

 

[Knobby22]

Excellent article by Steve Bartholomew in the Age. Worth a read.
I don't hold but found it fascinating, particularly with regard to the company they sold the life insurance business to. To me the sale is a good move. It's the destruction of the AMP reputation and the consequent continuing outflows that is the reason I would not buy in.

 

[galumay]

AMP's record of destruction of shareholder value over the last 10 years should be a salient lesson for investors.

 

[sptrawler]

AMP's record of destruction of shareholder value over the last 10 years should be a salient lesson for investors.

Also makes one wonder, why more execs haven't been prosecuted. IMO

 

[SirRumpole]

Also makes one wonder, why more execs haven't been prosecuted. IMO

Maybe they should just sell everything, wind the company up and return the capital to the shareholders.

I doubt it will ever recover.

 

[sileverback]

could it be that the neolibcon squawkers got privatisation wrong. Did privatisation of AMP actually destroy value?? Horror! Maybe the parrot/politicians should pause and rethink neolib dogma

 

[Ann]

Maybe they should just sell everything, wind the company up and return the capital to the shareholders.

I doubt it will ever recover.

It will be interesting to watch SR. They floated three ETFs in late 2016, GLIN Global Infrastructure securities, RENT Global Property Securities and DMKT Capital Markets. All ex Aus. I am wondering if this is an area they may expand into. ETFs seem to be a real growth area.

 

[sptrawler]

I wonder if WES, will have a nibble?

Well it looks like I called that wrong back in June, it looks as though Macquarie may have a nibble instead. lol

https://thewest.com.au/business/ban...lt-at-embattled-wealth-manager-ng-b881008838z

 

[luutzu]

Well it looks like I called that wrong back in June, it looks as though Macquarie may have a nibble instead. lol

https://thewest.com.au/business/ban...lt-at-embattled-wealth-manager-ng-b881008838z

I heard that Macquarie was supposed to be called up to the RC, not AMP.

But then Mac got quite a few friends in high places, AMP apparently not high enough so it got dragged in, totally unprepared.

 

[Junior]

AMP Capital and AMP Bank still seem like strong businesses. Their platform products are still competitive and not copping big outflows, their advice business needs a massive overhaul but could come out the other side in a good position.

Life Insurance business has been performing poorly for a long time, so it will provide shareholders with a bit more clarity now they have moved on.

SP will find a bottom, if it hasn't already.

 

[Toyota Lexcen]

i cant see it recovering, probably best for Macquarie or others to take it over as soon as possible

may get to 3.50$ a share

 

[Toyota Lexcen]

Sooner it gets sold up the better.

Great Australian corporation.

 

[sptrawler]

Sooner it gets sold up the better.

Great Australian corporation.

I'll be taking a haircut on this one.

 

[Miner]

Reading the report published by AMP as a heads up on previous and future, I was expecting market would have punished AMP more, like they did to CGF and few others.
I suppose the difference made by AMP , market was expecting to get a poor result from them on performance and after effect of Royal Commission.
So as I am concerned will be on side line to see how AMP gets ready for the right price to get me excited which is not today
DNH

 

[sptrawler]

The only things in their favour are, a strong brand name and a general public with a short memory.

 

[Miner]

The only things in their favour are, a strong brand name and a general public with a short memory.

short memory is first like and strong brand name is second like.
But who knows they could be the Australian Lehman Brothers as a case study for MBA students. So people will never forget even they have short memory.
Extract from MF (not at all my favourite but they are good in marketing so used their picture)


Wipeout: AMP just warned shareholders of a 96% profit crash

Tom Richardson | January 25, 2019 | More on: AMP