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He had redemptions he had to meet from investors.
Well from all your predictions, it is probably a 90% change thag they will go higher.
What is the jpd get cancelled since they are high in claims then common. Big fat goose egg for both. But at least jr pfd can get some value while common go to zero.
Seems like the way better bet to me. With moelis taking shape and the massive dilution about to hit, it really makes me wonder why people would not hedge with pfd or go fully to them. Even the saint of common, Ackman, did.
Of course the government is going to oppose. Have you been following the court cases? Their only tactic is to delay.
Use #averagejoeplan instead. I remember you posting about all the “senators” who endorsed it.
Or the largest c holder, Ackman. He has more shares than all of iHub combined but please go on...who buy the way bought pfd to hedge his risky common bet. Wonder if he did that because of the warrants and the additional dilution?
Oh boy, here comes the talk about the warrants being illegal and the secret SEC letter.
I think pretty much everyone involved in this situation has taken them as a given besides a few posters on iHub.
Dreams of $325 are crushed. The trust is exposed about the letter from the SEC being just a lie to pump.
But it is still a very good return from current levels.
There are multiple series of pfds to rotate into to.
If I had to guess, not all the big sell blocks rotated just into fnmas.
"Any proposal that harms the capital structure of the Companies will not move forward."
So for common to be worth anything, pfd shares will be worth par
"When we speak of capital structure we refer to diluting existing shareholders."
Care to explain? Dilution of common shares for a recap is not out of the norm
"The most likely option to raise capital will be issuing a new Preferred share and rolling existing P shareholders into the single new P share and then cancelling all series of Preferred shares. This formula will eliminate all opportunity of further lawsuits."
Can you refer to a plan that sates this? The only place I have seen it is on this board and mentioned by you.
"This also means that warrants and Moelis are dead."
Neither are dead. The warrants are almost a given now as they will be a $100b windfall for the government. They were a part of the original deal. As far as Moelis being dead, again, besides you stating that on this board, do you have any additional links or context?
TIA
Great post. Nice to see some realistic thoughts on this board rather than pumping for $375 per share.
Yahoo finance hasn’t had time to break the news of the release yet. Everyone keep an eye on them this weekend as they will be the first to know.
You must have missed his first sentence.
“Outside of this message board and a few dozen people on Twitter, NO ONE CARES. “.
Seen this happen way too many times over the years. Proclaim a short squeeze is coming the next day and then end up in the red.
They need to have the companies properly capitalized. I don’t think the government is counting on triple digit share price. Their objective is to reform the companies and get the tax payer off the hook, which dilution is the only way to accomplish that in the time frame that has been set out already.
Retained earnings alone directly contradicts his statements. You have to be very naive to think recap will come from just retained earnings or a triple digit share price is even remotely possible.
But are they really slow since you have been calling them slow for roughly 5 years and fnma is down ~50 ytd? Sounds like they have had good timing and the timing could be in a couple of months or even years.
They will be swept. Capital rules have not been put in place yet. This is a post midterm issue.
He has done his main job by exposing all the documents during discovery. It puts pressure on the gov to settle with the pfd holders at the negotiation table. Hopefully they are kind to common and don’t dilute them to oblivion.
Why don’t you file a case so your outcome is not dependent on the big boys at the negotiation tables, who are mostly pfd holders.
“I have owned p shares in the past until I fully understood that there is no chance of winning.”
You do realize that if common will ever be worth anything, pfd will win. However for pfds to be worth something, common can still go to zero.
I think you have your ideas mixed up.
Well he is fighting to get the companies out of conservatorship thus taking the taxpayer off the hook. So he could be saving the tax payer money in case of a future bailout.
I think you might have a little bias since he is funding pfd cases, although you have owned pfds in the past.
Hopefully, his case is putting pressure on the government. I have never understood the average joes’ hate for a man that is spending a great deal of his own money to fight to gov while letting retail investors enjoy the benefits of the lawsuits.
That could be it or he could be back to pumping fnmas. I haven’t checked that board yet to see if he rotated again.
Because they are from last week
Time to get him back on his medication. He is confusing which board to post on.
Just curious, do they have good Chinese food in Canada?
I am sure, when coming up with the warrants, they thought about to authorized share count.
Can you show your math behind this unworkable plan? This might be worse than the AJ plan.
Do you know how much dilution is coming? I am very interested on the recent news stating a 100b windfall since a few posters on here have a secret letter from the SEC stating the warrants are illegal. Can you provide any context? TIA.
Is this like when yahoo finance updates their share count and you say imminent release is coming?
Selling at the top like that would be smart. I see the average joes are slowly catching on.
This directly contradicts stockproffter’s secret letter from the SEC. Very interesting.
Because the news networks don’t have a journalist being murdered or midterms to talk about. After 10 years, why would they actually run this story with everything going on?