AMP LIMITED - ASX: AMP

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ShareShack user name hidden until logged in February 19
Very relieved to see IFL rebound strongly today on the back of a solid half year report. I built a large position in this stock above $7 just before ASIC announced the legal action against some of the directors. At the time, I couldn’t see how that was going to impact the company to the extent that the initial 30% sell off had indicated so I held tight and even added to my position whilst it traded below $5. If today’s results were poor I was prepared to cut my position If there were any nasty surprises that hadn’t been declared previously.
Apart from a bit of reputational damage, I couldn’t see how the litigation was going to have any significant impact on the financials considering the litigation was targeting the directors and not the company. Anyway, I’m glad I hung on and stuck to my reasoning for buying them in the first place as I believe they are well positioned to ride out the changes from the RC and will continue to grow the business over the medium term.

I’m also starting to pick up a few AMP shares now that they’ve updated the market with their results and strategy. If AMP go much lower from here I wouldn’t be surprised if they became a takeover target so I’m happy to own them below $2.50. Once the divestments are complete, AMP should have a lot of spare capital to play with and a portion of that is likely to be returned to shareholders. I’m backing the new CEO to turn this ship around and look forward to seeing what he can do over the next 12 months.

While I’m at it, I’ll also mention BOQ as a medium term yield play. Although their earnings are currently declining, they are still generating a handsome profit to support the very attractive dividends that will continue to be payed out. BOQ currently trade on a div yield of 8.2% but I’m expecting the current dividend will be cut by around 10% from $0.76 to around $0.68 cents per share this year which still puts them on a yield of 7.5%. Even a 20% cut in dividends over the longer term would see them trading on a yield of 6.7% which is not too bad relative to current cash rates. I am currently holding all 3 of the stocks mentioned above.
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ShareShack user name hidden until logged in August 08
Commsec's summary of AMP's first half 18 result:

https://www.youtube.com/watch?v=ETQcQLVydkQ
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ShareShack user name hidden until logged in July 29
Here's the list of volume spike trades of interest in today's scan (for trading day ending 27-Jul-2018):

AIS, AMP, ARE, AVL, BBN, BKI, BMN, CSL, CVN, DHG, DYL, EVN, FWD, FXJ, HE8, IOF, PDN, SBM, SFG, SFI, SPL, TGG, VMY, WHA, WZR

Personal disclosure - No direct positions thus far in these companies.
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ShareShack user name hidden until logged in May 13
Any contrarian investors out there? What do you think of AMP? Its shares are now the cheapest they've been since it listed on the ASX in 1998 as a result of the Royal Commission findings.

Do you think it has been oversold? If so would you be Buying now, or do you think it's a falling knife?

The stock is currently down 30% this year.

The following article in the AFR is a good read. It presents the for and against cases about getting in now.

I reckon what could support the price is the possibility of a foreign bidder mounting a takeover- and it pays a great dividend....not sure...

http://www.afr.com/opinion/columnists/chanticleer/amp--its-either-an-ethical-quagmire-or-a-screaming-buy-20180511-h0zyy5
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