AMP - AMP Limited

[Knobby22]

To me that's an Ok result.
Still made a profit!

 

[Miner]

To me that's an Ok result.
Still made a profit!

Good one. You should replace David Murray when he would be dislodged by the AMP shareholders

 

[sptrawler]

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

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

Do you think that's the bottom?

 

[Knobby22]

Good one. You should replace David Murray when he would be dislodged by the AMP shareholders

There is a bottom somewhere.
Confucius say person who try to pick bottom liable to end up with dirty hands.

 

[Miner]

There is a bottom somewhere.
Confucius say person who try to pick bottom liable to end up with dirty hands.

Just on tongue and cheek
The way Chinese Government is controlling Trump and rest of the world, I do not think Confucius would have lasted to share his thoughts and wisdom

 

[sptrawler]

Well AMP result sounds catastrophic, but it could have been worse, underlying banking and capital business grew.
So now to see if they can rebuild, get bought out, or go to gaol.

https://www.msn.com/en-au/money/com...ife-insurance-sale/ar-BBTytQp?ocid=spartandhp

 

[Ann]

Australia's AMP scraps short-term bonuses to avert possible board spill

SYDNEY (Reuters) - Australia’s AMP Ltd (AMP.AX) on Wednesday said it will not pay short-term bonuses to most executives, a move that could help it avoid possible board removal should investors vote against its remuneration practices for the second consecutive year......

.....“The board understands that many of our shareholders are disappointed with AMP’s business and financial performance in 2018,” Chairman David Murray said in the wealth manager’s annual report published on Wednesday.

“Reflecting the circumstances of last year, the board decided to award zero short-term incentives for AMP’s group leadership team in 2018,” excluding unit AMP Capital, which was not directly connected to any accusations raised in the inquiry. More

I think this has been a pretty disappointing stock for 20 years except for 2004 to 2007 other than that it has been pretty second rate. AMP was floated for $10.23 on Monday June 15th 1998. The high price for the day was $28.78 and the low was $13.94.

 

[sptrawler]

Australia's AMP scraps short-term bonuses to avert possible board spill

SYDNEY (Reuters) - Australia’s AMP Ltd (AMP.AX) on Wednesday said it will not pay short-term bonuses to most executives, a move that could help it avoid possible board removal should investors vote against its remuneration practices for the second consecutive year......

.....“The board understands that many of our shareholders are disappointed with AMP’s business and financial performance in 2018,” Chairman David Murray said in the wealth manager’s annual report published on Wednesday.

“Reflecting the circumstances of last year, the board decided to award zero short-term incentives for AMP’s group leadership team in 2018,” excluding unit AMP Capital, which was not directly connected to any accusations raised in the inquiry. More

I think this has been a pretty disappointing stock for 20 years except for 2004 to 2007 other than that it has been pretty second rate. AMP was floated for $10.23 on Monday June 15th 1998. The high price for the day was $28.78 and the low was $13.94.

View attachment 93116

Too many people lining their own pockets, it is a problem throughout Australian institutions, both public and private. IMO

 

[Craton]

Talk about imploding from the inside and demolishing an Aussie icon. Can AMP recover?
As AMP seems to be one train wreck after another, only time will time.

 

[sptrawler]

Talk about imploding from the inside and demolishing an Aussie icon. Can AMP recover?
As AMP seems to be one train wreck after another, only time will time.

But for the brand name, I think it would have already gone, my guess is when the dust settles someone will buy the carcass.

 

[Ann]

But for the brand name, I think it would have already gone, my guess is when the dust settles someone will buy the carcass.

Who would want this **** sp? It has yet to turn into a penny dreadful like Myer. I have it on my watchlist for no good reason other than the desire to watch a road crash and it just keeps on getting worse. Years ago I upset someone on another forum when I told them it was junk and flick it off.
However having said that perhaps Evans and Partners may make an offer. Who knows or even cares?

 

[Smurf1976]

It has yet to turn into a penny dreadful like Myer.

Myer at least have the advantage that people don't hate them. Sure, people might be choosing to shop elsewhere but that's because someone else is giving them better value, it's not because they hate Myer as such it's just that someone else is catering to their wants better.

In contrast I'd expect there's quite a few with a definite dislike of AMP.

 

[Ann]

Totally agree with you Smurf, the point I was trying to make is there is still room for AMP's price to drop further. If Myer's price can become pennies then AMP surely should get there.
I can see a huge upside potential for Myer now John King is running the company. Even in one quarter he has made a massive difference. I have been watching AMP since David Murray took over as chairman. A new CEO was appointed in December perhaps he may be able to do something with AMP. Can't see any evidence yet looking at the stock price.

 

[sptrawler]

Totally agree with you Smurf, the point I was trying to make is there is still room for AMP's price to drop further. If Myer's price can become pennies then AMP surely should get there.
I can see a huge upside potential for Myer now John King is running the company. Even in one quarter he has made a massive difference. I have been watching AMP since David Murray took over as chairman. A new CEO was appointed in December perhaps he may be able to do something with AMP. Can't see any evidence yet looking at the stock price.

I think AMP obviously has intellectual value in their processes, as a lot of companies were using them, also they have a banking license. All they lack is trust and credibility, but that can be turned around, as is proven in politics all the time.
With regard to Myer, I think the business model is dying at this point in time, with the internet most of what Myer sells can be researched and purchased online including free delivery. How they are going to compete against that, is beyond me.
Take for example last night, I was asking Mrs T about buying a hard cabin bag, to transport my camera gear on holidays, she recently had purchased two of differing sizes.
Anyway the thought of spending more money drove here in to a frenzy and in no time she had selected, ordered and paid for one, it arrives at the door next week.
I just can't see how Myer can compete with that, clothing may be different, but that is a very competitive market. Just my thoughts.

 

[Ann]

I think AMP obviously has intellectual value in their processes, as a lot of companies were using them, also they have a banking license. All they lack is trust and credibility, but that can be turned around, as is proven in politics all the time.

Well we can only watch and time will tell us.

With regard to Myer, I think the business model is dying at this point in time, with the internet most of what Myer sells can be researched and purchased online including free delivery. How they are going to compete against that, is beyond me.

They are reducing debt levels and they are growing their online business "online and omnichannel sales" are up 18.6%.

 

[Toyota Lexcen]

AMP just needs to be gobbled up ASAP.

They selling life insurance business, what’s going to be returned to shareholders?

What else is going to sold and will it be returned to shareholders?

 

[Junior]

Their banking arm and AMP Capital are still going alright from what I understand. Their investment platforms are still receiving net inflows aren't they? (i.e. MyNorth)

Insurance has been stuffed for a long time. Advice could be stuffed but that depends on how their strategy unfolds from here on out, and what happens with all those BOLR contracts.

 

[sptrawler]

Well we can only watch and time will tell us.


They are reducing debt levels and they are growing their online business "online and omnichannel sales" are up 18.6%.

I think the online will make a bigger and bigger contribution, to the point where the dept stores become a financial liability. I think I read somewhere, that the large shopping centres in the U.S are becomming deserted, it is difficult to see how they can remain profitable going forward. I guess they have to transform into entertainment hubs.
Probably drifting off thread, but a very interesting subject.

 

[Craton]

But for the brand name, I think it would have already gone, my guess is when the dust settles someone will buy the carcass.

I'd say the IPO was to do just that, raid it from the inside. Then very shortly afterwards wasn't it the foray into Henderson's that started the rot leading to one of corporate Australia's biggest losses?
All the while, riding the brand into the ground. Anyways, water under the bridge. Going forward AMP needs new blood at the helm as I can't see the old guard setting an agenda that will steer AMP and its SP around anytime soon.

 

[Garpal Gumnut]

For those of us of an advanced age, AMP was easy to trade. Buy at $4 and sell at $7-8. over the last few decades.

AMP is a huge lazy giant akin to the Public Service.

It serves itself not it's investors.

My guess for the rest of my dissolute life is Buy at $2 and sell at $4.

I may even buy tomorrow.

Do the silly bastards still pay divies?

Below is a 10 year monthly chart.

gg