any news coming, page-6

I think that simplifies things somewhat. There is an issue with some of the earnings - particularly those relating to fund spin outs etc. Those earnings will disappear going forward - at least in the short term.

So the question are:
1. what will earnings look like going forward without all the transaction earnings?
2. what happens with the debt and will earnings cover it?

I personally think AFG will survive but think there is a lot more ground to cover before we have clear answers to the questions above.

__________________________________________

This stock was strongly called here over the weekend....you could have purchased it this morning for 23 cents. (its now 38 cents)

There is a chance that investors with a neutral (such as this post will miss the boat)

AFG bundle off ans spin off their assets at independant valuation. Now such assets will be retained on the Allco balance sheet. Allco will therefore retain ongoing profits and asset revaluation.

Sure - a quality spin off means they can grow their funds associated with that asset transfer. And maybe this will not be the case anymore. Previously the company was earning annual NPAT of $200m. I am suggesting - lets half that....say 4100m PA. That still puts the company on a PE of 1.