There is light at the end of the tunnel for AMP. It is a freight train coming the other way ready to smash it into a million pieces.
The report in 2 weeks' time will be a blood bath. There are managers looking for new jobs in every direction. Only a portion of the blood bath can be blamed on COVID 19 as a large portion of the damage was done before March this year.
I spoke to AMP Capital last week. They are doing massive write-downs on their extensive infrastructure and real estate assets. Melbourne Airport is down 20% and they have lost some other massive tenancies. Australia Post has handed back 20-30% of their lease holdings and these are never to be taken up again.
AMP are actively recruiting phone-based financial advisers. Not sure what the offering is but sitting in a call centre all day wouldn't be my idea of career if I did a financial planning degree.
when will AMP HIT $3.00, page-1919
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