"There is nothing in the AMP business that isn't heading or at...

"There is nothing in the AMP business that isn't heading or at the very bottom of their cycle."

By definition if the business is at bottom of the cycle, then market pricing of the business is generally pretty attractive.

Eliminating the dividend is very good for those establishing long term investing positions (as opposed to trading positions).
4c dividend is equal to $116 of capital saved, annualized thats $225m.
Add back the underlying profit of $314m from the business units that were to be sold and thats $500 odd million of profit retained within the company.

I am very happy that AMP has eliminated the dividend for now. And if the sale of business units has been knocked back, well thats also OK. I wasn't too fussed if they were sold or kept.

As for the $700m potential writedown from new government laws, remember the sale process was at 82% of book value. That remaining 18% is worth $594m, so $100m off the $700m.

Share price could well be down from here in the short term, but I think for a long term slow accumulation strategy, alot of bad news and worry is priced in at $1.80