Don't let the other posters talk you into selling up. No one...

Don't let the other posters talk you into selling up. No one actually knows where AMP is going, and where the SP will end up. No doubt the company has had and will continue to have major problems. But there "is gold in them thar hills". There is value in those assets, and we will see if AG has the ability to bring it out.

Years ago the chairman stated that the value of the wealth business was written down to nil, I believe it was written down by $600 million. So the writing was on the wall back then.

Too often when a SP, goes right down, the doom and gloom merchants come out of the woodwork and predict a total collapse. When Westpac went down to $15 or so, the chatter was that next step was bankruptcy. Now look at the SP.

Months ago I had no confidence in Ferrari, but thought that even bad decisions would not destroy the inherent value in AMP. I think the value is still there somewhere.

So at this SP, you have to think that there is a greater propensity to increase in the longer term than go down. In the short term we may see some downside, but the percentage downside has to be lower than in the past.

So I am buying now even though a month ago I was selling.