"Keen to hear if I am missing something very important, apart from fluffy verbiage by the CEO."
If anything, I think the thing you might be missing, which is an easy and natural thing to miss, is that there needs to be a clear distinction between:
1.) What is currently happening to a business;
2.) What is likely to happen to the business in the future, and
3.) How that business is actually being valued in the context of 1.) and 2.)
Companies that have no problems tend to be priced that way, and vice versa.
If AMP wasn't having reputational issues, the stock price would surely not be at $1.80/share
My clear sense is that the narrative surrounding AMP in recent months almost exclusively relates to Point 1.), a little bit to Point 2.), but virtually nothing at all to Point 3.)
The thing with investing is that no one rings a bell to tell us when it is time to buy.
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