ftse up 80 what do we think of amp at 7.00, page-3

re: ftse up 80 what do we think of amp at 4.50 AMP is overvalued at $4.50 when it reaches that low. It was nearly suspended on Friday voluntarily. I have hounded this stock after having sold it at $39.5 (2,000 free units to my family for being long time customers) when they listed and demutualised.

AMP has been mismanaged and the calibre of their management as I have quite consistently and constantly stated is where the problem lies.

In addition this smartass company like many a good institution in Australia slavishly went borrowing American corporate ideology and methods to its detriment. The company has had problems with corporate governance which the current and recent past management cannot spell.

AMP is trading at several multiples of its NTA. It has huge problems. HUGE!!. Because of the impact on the overall economy and confidence, they are keeping a lid on the problems and the Regulator Knotts and gang are aiding and abeetting with generous government support the lid on the stink. AMP will never rcover. It will now have to be absorbed, taken over or sold to survice.

AMP is a thing of the past. I would suggest you seriously looking at the bottom of the barrel. It will break the psychological $5.00 barrier within the next six months and blame the war for its woes. It is then that the proverbials will hit the fan.

After Telstra this is the biggest tragedy to hit your lovely country. Do I hear the band on the decks play "Nearer my God to Thee"?? I see the lifeboats being lowered though and only first class passengers allowed on. "Management and Board members only this one!!"