AFG 2.89% $2.49 australian finance group ltd

so much for the stock analysts

  1. 2,382 Posts.
    How many of you have read analysts notes from around 6 months back about CNP, AFG and MFS?

    I have and they all say the same thing, BUY!!!

    How wrong can these highly paid people be??

    Macquarie had a buy on MFS until it got suspended!!!

    UBS blew a few hundred mill of unit holders money on CNP by backing the truck up to it a few days before it got suspended.

    AFG as part of the consortium trying to buy QAN.

    This tells me that the fund managers dont even know what the hell is going on in these companies.

    The only thing i can see from all of this is that you should only invest in companies that you understand how they make money. Its that simple, if its to complicated it is probably because its all smoke and mirros.

    As for AFG going back over $2, well the only assets i would want would be the LPT and Leasing assets. Rubicon's LPT's can probably be restructured or picked up by another manager and Macquarie or BNB would love to get hold of the leasing business because its a cash cow.

    As for the rest of the company i would say that the model is broken.

    Its gona be a restructure job as will CNP and MFS. Dont waste your time on it.
 
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