Agree Ryderman. The $1.5B Loss was a bit of a red herring IMHO....

Agree Ryderman. The $1.5B Loss was a bit of a red herring IMHO. It was expected and already factored into the share price and it is only the goodwill that is being written off here.

Based on mid year results in Feb, and after this writedown they still have about $8B in assets against $6.9B in liabilities. Leaving net assets after this reported loss of $1.1B and with an underlying business that is still profitable.

Compares very favorably with a current market cap of $271M at the moment.

In terms of debt issues, if the banks were going to shut AFG down they would have done it by now and the market knows it (hence the climb from 21c to 1.20 in 5 weeks.

The kicker for me, is that AFG seems to be an ideal MA target for MQG or BNB and with the recent climbs there has been some strong interest.

I have no doubt this will pick up pace on Mon and Tues and return to $1 and then maybe $1.20 (that it hit on Thu). The sell down on Thu and Friday, mirrored that on Mon and Tues, before it took off. There are big trading profits to be had here. Even more so that CNP, CVI, ABS or others. Don't miss this!