AMP - AMP Limited

[barney]

It amazes me, that the people who over the years have held the tiller at AMP, can look at themselves in the mirror.

Agree Homer ...

I'm no Saint, but there were some pretty ordinary decisions made at the helm.

And, they deserve to be "taken to task" over those decisions.

Lets hope those involved become "better people" in the wash up. That would at least be something positive from it all.

 

[sptrawler]

Good point Barney, you cant be bitter forever, cheers mate sometimes we all need a tap on the head.
I tend to hang on to my anger way too long.lol

 

[Craton]

Corporate incompetence should be subject to capital punishment.
Too harsh, too draconian you say?
Maybe so but these high flying execs will think long and hard before destroying shareholder value and company reputation.

 

[over9k]

Corporate incompetence should be subject to capital punishment.
Too harsh, too draconian you say?
Maybe so but these high flying execs will think long and hard before destroying shareholder value and company reputation.

They usually have significant stakes in the company themselves so it's not in their interest for things to go pear shaped. It's only when they sell their own holdings off first and then you get news like this that the hammer has to fall.

 

[Smurf1976]

Given AMP is still a $4 Billion dollar Company, even after all the recent naughtiness, I would say ...

In another way though, I think the simple fact that it's no longer officially a large cap stock says an awful lot in itself.

Go back some years and along with BHP and a few others, AMP was one of those companies that were pretty much the very definition of "big business" in the Australian context and one of the first names that would come to mind for the average person if someone mentioned investing.

They've fallen a very, very long way since those days.

That said, my system has told me to buy the stock and so I will be buying. Whether it turns out to be a winner or not is of course yet to be seen and will take time to unfold. That's based on a purely mechanical system, there's absolutely zero human discretion applied. It says buy so I buy.

 

[over9k]

Yeah, AU's big four have a pretty iron grip on things.

I remember when I think it was NAB that wanted to buy out/merge with AXA and wayne swan (it was of course subject to regulatory approval) torpedoed it in an attempt to get AMP to merge with them instead so AU would finally have a fifth big bank.

And, well, we now all know how well that plan went.

 

[Craton]

They usually have significant stakes in the company themselves so it's not in their interest for things to go pear shaped. It's only when they sell their own holdings off first and then you get news like this that the hammer has to fall.

True. However, I am referring to the top end of town.
Aren't most of these holdings are usually very big?
So to them it's only a drop in the ocean. Also, how many actually buy at market price?
Many of these top execs have, what it's called? Oh yeah, very attractive remuneration.
With AMP though, as we all know it's been a very dismal performance since the IPO late last century.
Any one remember how big AMP's war chest was back then?
Billions of $$$ sunk/wasted on bad decisions or worse, corporate greed...
Shame on them for not setting the bar high.

 

[over9k]

True. However, I am referring to the top end of town.
Aren't most of these holdings are usually very big?
So to them it's only a drop in the ocean. Also, how many actually buy at market price?
Many of these top execs have, what it's called? Oh yeah, very attractive remuneration.
With AMP though, as we all know it's been a very dismal performance since the IPO late last century.
Any one remember how big AMP's war chest was back then?
Billions of $$$ sunk/wasted on bad decisions or worse, corporate greed...
Shame on them for not setting the bar high.

True, but, incompetence and corruption are not the same thing.

 

[Craton]

True, but, incompetence and corruption are not the same thing.

Huh, did I use the word corruption?
Sorry, am not following your train of thought.

 

[sptrawler]

True, but, incompetence and corruption are not the same thing.

Incompetence and feathering ones nest, isn't the same thing either.
Paying excessive salaries, with a failing business model, isn't actually corruption and it isn't incompetence, it probably falls into the category of not giving a $hit.

 

[Knobby22]

AMP was a cash cow that was turned into a pig.

They tried to sell the pig by dressing it up but there were no buyers.

So now I think they are finally trying to get something going as a business. If the CEO is smart enough they may yet achieve something. A big if though.

 

[Joules MM1]

@barney must be encouraged to see this
stealth coiling auction

Chart Image

www.tradingview.com

 

[barney]

@barney must be encouraged to see this stealth coiling auction

Indeed @Joules MM1 If it were an unloved .012 Spec, that Chart would certainly have my attention as an Accumulate

I only own 286 Shares I think it is in AMP so I still need it to double so I can cash them in, lol

Their Buy-Back certainly seems to be adding a bit of coal to the fire for anyone trading them at the moment

They have a $200 million BB limit with around $80 million still a possibility if I read the number correctly.

The Company obviously sees the recent price as the LOW. Certainly looks low risk at face value given the current situation.

 

[sptrawler]

Indeed @Joules MM1 If it were an unloved .012 Spec, that Chart would certainly have my attention as an Accumulate

I only own 286 Shares I think it is in AMP so I still need it to double so I can cash them in, lol

Their Buy-Back certainly seems to be adding a bit of coal to the fire for anyone trading them at the moment

They have a $200 million BB limit with around $80 million still a possibility if I read the number correctly.

The Company obviously sees the recent price as the LOW. Certainly looks low risk at face value given the current situation.

It has to be a 4 bagger for anyone who bought in 3 years ago, to break even. ?

The crypto of 1998:
Right from its very first day as a listed company in 1998 following demutualisation – probably the most chaotic trading day in the ASX's history – when AMP shares opened at an astonishing $36.00 (about $20.00 higher than anyone had expected), traded up to a high of $45.00, before closing at $23.00, it has been in this

1998 = $45.00
2001= $14.00
2007=$10.00
2015= $6.70
2021=$1.20

Yep, sign me up.? it can't get any worse than this, can it? That is the $64,000 question. There has to be better punts out there IMO.

 

[Smurf1976]

It has to be a 4 bagger for anyone who bought in 3 years ago, to break even. ?

I bought in May. So far, so good, up 6% from entry.

I won't be holding it long term though, it's a trading opportunity and nothing more. So long as it goes up, I'll keep it with a reasonably tight stop set.

 

[sptrawler]

I bought in May. So far, so good, up 6% from entry.

I won't be holding it long term though, it's a trading opportunity and nothing more. So long as it goes up, I'll keep it with a reasonably tight stop set.

I should, I could, I won't, burnt too hard last time.
They said they were going to clean up their act, when from memory, they separated from the U.K arm FFS
Can't build a bridge, can't get over it, want to punch someone, but can't find anyone with AMP on their forehead. ?
I'm sure they have value, same as IFL has value, just once bitten twice shy when retired.
I know it isn't a good basis for investment decisions, but when you have no recovery time, you are reluctant to be burnt twice.
I've actually found it a bit a flaw in my nature, I do tend to hang on to anger for too long and it does cloud your judgement.

 

[Garpal Gumnut]

AMP is a contrarian pick for me in the August ASF Stock competition.

It has underperformed for decades but is about to get a new CEO and is close to $1 in value. If it goes below that it will be a take-over target.

I reckon $1.40 - $1.80 will be enough for many holders to fold and get out.

40-80% gain should win me the competition.

gg

 

[divs4ever]

Yeah, AU's big four have a pretty iron grip on things.

I remember when I think it was NAB that wanted to buy out/merge with AXA and wayne swan (it was of course subject to regulatory approval) torpedoed it in an attempt to get AMP to merge with them instead so AU would finally have a fifth big bank.

And, well, we now all know how well that plan went.

well AMP certainly behaved like a BIG bank , i hope WS is impressed with his achievement

 

[rederob]

Doctors were challenged.
One said brain surgery.
The other heart surgery.
Patient beyond saving:

 

[Dona Ferentes]

is close to $1 in value..

Mmm, Price.... discovered.
Value ... hard to ascertain