who cares about short-selling.
if you like the prices they are selling at, you are welcome to buy. This has been my approach with AMP for months now. my avg entry just gets lower and lower. Sure, my position would be down at the moment, but who really cares long-term. Unless of course operationally they never get things sorted.
I've made a fortune buying fractional ownership interests in businesses when people were selling their ownership interest at obscenely cheap prices. If it were a short-seller or mug punter, I'm indifferent.
you mention how good your property investments have been.
I'm sure at times others in the area would have transacted at prices below what you were happy to accept. If you marked your property to the market each and every day and looked at the screen you may have been upset about it. But I suspect you didn't, you held your asset, confident that the underlying cash flows were satisfactory and ultimately others in the market would be prepared to transact at a valuation that would be satisfactory to you.
Given your property success maybe it's best you deploy your capital currently in AMP into the property asset class if you aren't comfortable w AMP, you'll most likely have a tax benefit from taking the loss. The way I see it now, no need to get worked up over AMP.
You own an asset worth about $3.6bn.
You have underlying earnings and cashflow accruing to the tune of $300m.
It a low interest rate world, that's not a bad outcome, especially if that $300m turns out to be bottom of the cycle earnings.
The new CEO Alexis doesn't start until end of July from memory.
The results and presentation are due to come out on 12 August 2021.
So one can't expect that she will have too much to disclose or update on, she will have barely had time to digest the results, let alone arrive at a plan.
On another post you mention Frazis at BOQ buying MEBank. Acquisitions are the default option for those with short-attention spans, happy to spank the money of others and hopefully keep a bit of upside for themselves through egregious compensation structures are all the rage in ASX listed companies with spineless boards. I now a bit about Frazis, and I would definitely not be happy were he at the helm of AMP and decided on an acquisition spree. Good luck to him at BOQ, ME Bank is ho hum, dreadful to use as a customer. Super clunky, kind people on the call centre line, but processes they are required to follow are unproductive and preclude them from being able to do a good job for their customers.
Just a keep a cool head.
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