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AMP, AMP LIMITED
alonso
post Posted: Nov 22 2019, 10:46 AM
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In Reply To: blacksheep's post @ Nov 20 2019, 09:19 AM

I wonder if this is occurring under "non-forfeiture" clauses of "with profits" life insurance policies, ie policies which have a condition

under which the policy won't be lapsed while there is sufficient funds to pay the premiums.

But the executor presumably had notified AMP of the death and supplied a death certificate. However we've seen from the Westpac

case how computer coding can cause massive unintended consequences.






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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
blacksheep
post Posted: Nov 20 2019, 09:19 AM
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ASIC chair vows to intervene as AMP continues to charge customers after death
By business reporter Daniel Ziffer
Updated about 8 hours ago
QUOTE
Revelations that scandal-prone financial giant AMP has continued to knowingly charge dead customers have been called "confronting and disappointing" by the head of Australia's corporate watchdog.

Key points:
ASIC chair James Shipton told a parliamentary inquiry he will personally be involved in the inquiry into allegations AMP continued to charge customer Daryl Oehm despite being informed of his death
Mr Shipton says the case is particularly disappointing as it occurred after the financial services royal commission exposed the "charging-the-dead" scandal
AMP had already been exposed for continuing to charge life insurance premiums to more than 3,000 customers who had died


Australian Securities and Investment Commission (ASIC) chair James Shipton told a Senate committee he was disturbed by the ABC's report on the treatment of customer Daryl Oehm.

The respected manager of a mental health unit at St Vincent's Hospital in Melbourne, Mr Oehm died in October last year.

His friend and executor Naomi Halpern spent months fighting with the company — while AMP sent emails to the dead man's account.

Mr Shipton said the case was disturbing because it occurred after the royal commission first exposed the practice.

"It was confronting and disappointing to me that this was still going on," Mr Shipton said.

"Let me say that we're making inquiries in relation to this and I'm personally very interested in what happened.

"One thing I will say and unfortunately this is a vignette, an example of where their system is … their systems are obviously failing and there isn't a magic, quick solution."

read more - https://www.abc.net.au/news/2019-11-20/asic...ection=business



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
joules mm1
post Posted: Nov 15 2019, 03:02 PM
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In Reply To: joules mm1's post @ Nov 7 2019, 02:55 PM

smooth move above the 2buk level, no blazing signals, this move will have a lot of attention about the possibility of a longer term low



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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
joules mm1
post Posted: Nov 7 2019, 02:55 PM
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In Reply To: joules mm1's post @ Nov 1 2019, 11:31 AM

amp on the bid, keeping a clean impulsive construction...needs to close above 1.99/2.00 to get buyer conviction


refer this post:
https://boards.sharecafe.com.au/index.php?s...st&p=901948




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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
joules mm1
post Posted: Nov 1 2019, 11:31 AM
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AMP attempting to break out of the channel + break out above the last swing high at 1.90
it would need to show some momentum to attract more than short covering liquidity





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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
nipper
post Posted: Oct 24 2019, 10:01 AM
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QUOTE
On Thursday morning AMP said third-quarter net cash outflow totalled $1.9 billion as funds leaving AMP outstripped new inflow.

In total, AMP’s wealth arm had cash outflow of $9 billion during the September quarter, mostly due to loss of retail investors on AMP’s platforms. Cash inflow came in at $7.1 billion during the quarter, including a lift in inflow from its North investment platform helped by external financial advisers.
- Super a 'river of gold'?



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


early birds
post Posted: Oct 23 2019, 08:41 AM
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In Reply To: nipper's post @ Oct 22 2019, 01:18 PM


“Australia hasn’t really seen a true wealth industry,” he said. “Everyone has just been focused on selling products.”

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you hit the nail nipper!!!!!


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nipper
post Posted: Oct 22 2019, 01:18 PM
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In Reply To: joules mm1's post @ Oct 22 2019, 12:53 PM

Well, if I've ever seen a worse chart, I can't remember when. The life support should've been tinkered with a while ago.

Had to laugh at the embedded assumptions and hubris coming from AMP:
QUOTE
...AMP's immediate priorities are to “get money back to clients” who have been aggrieved and fix “legacy” issues through product development, before it implements an experimental model [CEO] Mr De Ferrari said is a dramatic diversion from traditional financial advice in Australia.

Australia hasn’t really seen a true wealth industry,” he said. “Everyone has just been focused on selling products.”

... and which outfit has done the most to destroy any wealth industry (prefer "profession"), than this crowd? Pretending to be august, the only reality is that the eye was off the ball (and on self-enrichment) 11 months of the year.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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joules mm1
post Posted: Oct 22 2019, 12:53 PM
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review, weekly basis
cyclical pump-it/sell-it within a channel, breaking that cycle and breaking the channel a + for the stock, which has gone "quiet" in the public domain of angsty chat
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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price

Said 'Thanks' for this post: nipper  early birds  
 
joules mm1
post Posted: Oct 18 2019, 10:33 AM
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#swings
#resistancebetter as a tradable instrument than an investment instrument..until

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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
 


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