MM thoughts on IFL & AMP

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Question asked 19/07/2021

MM thoughts on IFL & AMP

Thankyou James enjoyed…. I am going on 81years of age and don’t have much to do except to look forward to your reports … I do not act on all your suggestions, but many of them I do and I am a little “in front” ….. I do not “play the market” for myself it is for my 5 Beautiful Grand Children…. Look forward to your next one…. Regards Malcolm…. P.S. What do we do with AMP and IFL !!! hang in there ?

Malcolm F

Answer

Hi Malcom,

Lovely kind words sir, thanks for putting a smile on my face on a Friday afternoon. A quick thought on the 2 stocks you mentioned which are exposed to old fashioned style financial advice.

IOOF Holdings (IFL) $4.32 – MM likes this financial services business and actually hold it in our Income Portfolio, a position which is happily showing nice paper profits at present. We believe the 6% yield is sustainable and it’s a matter of time before the stock pushes up towards the $5 area driven by the use of technology to better scale their diverse operation in a compliant way.

AMP Ltd (AMP) $1.10 – I keep looking at AMP around $1 pondering an aggressive play but then the Myer (MYR) story pops into my head and I move on but we do like the stock at current levels believing it’s worth more than the market is giving it credit for – I’m just a bit gun shy at present.

chart

Amp Ltd (AMP)

LAST UPDATED 16/07/2021 16:49

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