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Can someone clarify for me. Preferred and common are listed as 75%/25%. Preferred is supposed to be uncapped. Is common uncapped as well?
That makes sense but I am uncertain. I only own PQ.
Etrade allows you to avoid this .05 rule.
I only have LTI markers from former PQ. Should my e-trade account have any disbursements.
The public company spins off a very profitable division of its business into an entirely separate business. That IPO is a HUGE benefit for all involved.
We are pulled in so many directions on this issue. Like all of us in this since the beginning, we just want it to be over, so we finally find out the big picture.
YES!! Absolutely. A lower conversion PPS means more money for Escrow. I have no idea why everyone is freaking out.
This lowering in price is a good thing temporarily. Hang on guys!!!
If we do receive something. For Each PQ Escrow Marker I hold, can someone please try to estimate the upcoming payout on the following:
---> Cash dist per PQ
---> Stock dist per PQ (Chase or WMIH stock???)
Exactly. Now you got it.
This was the plan all the time. More profit for us if the conversion price is low. We can all relax until its done.
As to how this may affect us by dilution... My best guess has half of our shareholders using the payout to buy more shares and the other half will cash out. No effect whatsoever.
With my payout: I will use half to buy more shares, and withdraw half in cash.
My WMIH acct is in a Roth IRA and I am qualified to remove funds tax free.
I recommend everyone retain a tax attorney to go over the tax consequences of cashing out, since cost basis of WMIH was close to ZERO for most of us in this since the beginning.
I have a gut feeling the executives involved planned all along to keep PP at or near $2-$2.25 until M/A. Hopefully we shall all find out if I am right very soon.
If I had any extra cash I would buy more shares. Right now I will hold on to my shares until then.
Good Luck to All !!!
Im in PQ since 2008 and into the conversion to WMIH.
WMIH made me at least double my money in 8 years...so anything coming through Escrows is gravy.
Don't worry about Escrows. We all have the potential of huge $$$.
Remember... this is a 10Q discussing WMIH Stock, not for discussing Escrows.
The 10Q states in vague political language...but we all know what they are really talking about. <<WMIH Merger/Acquisition and Escrows.
It says KKR raised Preferred $$$ given to WMIH, to complete a merger by 12/31. Also says if we do not get one by that time other options between KKR and WMIH will be discussed.
Even states WMIH does not own any off balance sheet assets which is true from a certain point of view because the assets have not officially passed over to Escrow yet.
Please read the entire 10Q and READ BETWEEN THE LINES.
Per 10Q: It states very clearly that our stock conversion will happen around 12/31/16 at a PPS of $2.00 to $2.25.
Reasons to push the price to these lower levels is solely for financial reasons. States in the 10Q if the price was higher, then we would be in a less profitable position.
Check it out! Its all there, so don't worry about low PPS now, and chill till Dec-Jan conversion!
AGREED 100% I read an article recently about share conversion being a possibility with a PP between $2-$2.25
I'm confused... I want us to get our money, but where does the info on this press release from 10/31 show WAMU Escrow is getting cash? Who can find out for us?
http://www.dfking.com/jpm/OTP.pdf No mention of WAMU.
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Could this be just part of their $10.6B capital repurchase program over next year:
https://www.jpmorganchase.com/corporate/investor-relations/pr/2016-capital-distribution-plan.htm
ZERO is the original cost basis for WMIH, since this was a settlement, or conversion from WAMPQ etc. My etrade acct reflects this. Please contact your broker for more info.
Have you ever heard people complain "Oh I wish I had invested in Apple or Google before it went through the roof."
Please think big picture Long Term. Long Term PPS increase will more than make up for stagnant short term PPS.
Just hold on tight and try to think of WMIH investment in those terms.
Hedge funds desire to maintain their wealth... and this stock is the future success story for all of us to tell our kids about someday.
WMPQ, converted to WMIH/Escrow $$ has been in my Roth since 2008/2009. In my case, I may now pull this money out tax free whenever I need it.
Back then, I was not disabled and still could work. Fortunately over the past 23 years of investing, I have always placed my stock in IRAs, since I thought this would be my best option for maximum retirement funds.
If you do not have a ROTH, you can open one now for your future investments, retire tax free later. Remember, after 5 years, you may always withdraw the principal with no penalty and let the interest ride.
ZERO Tax depends on the account type Escrows are being held in.
My Escrows are being held in a ROTH IRA. There are certain circumstances you can withdraw the money from a ROTH account Tax Free BEFORE retirement.
For example: Since I am disabled, IRS states I may withdraw money tax free from this account after the money/escrow markers have been in the account over 5 yrs.
There are many reasons/ways to legally withdraw tax free before official retirement. Please contact IRS and a Tax Professional.
$7.86 per escrow for PQ?? Sounds a bit low for former PQ?
Hello,
Where did you get information that Hedgies are selling WMIH Holdings big time? Hedgies have sold minor positions in other stocks they own too. They buy other stocks also. Normal trading.
WMIH is still a HUGE VALUE buy now.
Making a small sell on a large position of ANY stock before end of QTR is what any investor firm does.
Sell is not specific to WMIH at all. Specific to all stocks in general not just WMIH. They want to get some planned profit to report.
From what I see, only some Hedgies took a small sell on 3/31 to get some gain to show their investors on their quarterly return. They are not Selling Out completely.
This is not specifically a WMIH thing but a normal stock thing.
Looks normal to me. Am I Mistaken??
Please GO LONG!!! Don't panic. This is NORMAL. Sell to take some periodic gain and buy when there is blood on the street.
If you don't fully research a company and don't realize true long term value then don't buy it. I have cash set aside always for such downturns and snap them up. GIMME GIMME GIMME.
This is how wealthy invest. Please have PATIENCE. This is my value investing strategy for the past 30 yrs.
Please ride out the downturns and you will not be sorry. I have ridden out 3 market downturns and always come back even higher than before.
I have a plan and don't deviate, and its so HARD. Please try to do the same and you will not be disappointed. Compound interest is the BOMB!!!
Good Luck to All
-Kelly
Agreed. We are all tired of the games and the wait is driving me insane as well.
No one likes to be played the fool.
I think those 2 Hedge funds were just "Hedging their Bets," by having a stake in PQ at that time, before conversion to WMIH...along with stakes in their numerous other stocks! That is the business they are in.
Thoughts??
521 Signed
Don't some of the the Large Hedgies have Escrow Shares?
RECENT NEWS this week - GERMAN blog about WMIH MA and discusses Great Western Bank: You may recognize the names here of some of our WMIH posters.
I speak a little German and this is definitely an interesting read. You have to page down a bit for English postings...remember that the date in German shows the day first, then the month and year.
If you need a translation...just Google German to English Translation and copy/paste the German script.
This may lead to NOTHING but who knows...we DID own Western Bank before the seizure by JPM.
http://forum.finanzen.net/forum/WMI_Holdings_Corp_News-t461347
Wiki states Great Western Bank was "Acquired by Washington Mutual in 2007, now JPMorgan Chase."
Are we taking Great Western back somehow?
Someone posted a well thought out plan on how an influx of partial $$//new shares to escrow would eventually lead to an increase WMIH PPS, thus allow us to be paid in full with another infusion of shares somehow, as the PPS eventually goes up past $8 PPS.
Anyone remember this from a while a go? Am I mistaken? It could also be linked to acquisition of new revenue producing co.
Thanks again Boris for the insight!! I would like to revisit this topic again when/if Escrow pays a settlement.
I would certainly like to find out more about it when you are advised for sure how exactly to handle the tax situation.
Thanks again!!
I agree with you 100%, but be aware...in the past when etrade has sent me a 1099-R on stock sales of this type with ZERO cost basis, the 1099-R does not reflect dist codes accurately or marks the income as "Taxable amt not determined/etc."
Per Etrade rep...they just churn the forms out leaving you or your tax person to decide what code is correct on taxes. If you enter the wrong code as provided by etrade, u may be taxed when you should not be taxed.
Please call the IRS before ever submitting your taxes in these situations to help you during tax time. The IRS will gladly help you choose the correct Code to enter on your 1099-R as I have personally experienced.
Don't be afraid to ask them...then have your tax person do the rest for you, based on what the IRS advises.
Rules may vary depending on what type acct you hold escrow shares in.
Mostly I agree with you on that one but you may remove the amount you actually contributed before earnings/profit for any reason without penalty as long as the funds have been in the acct 5 yrs minimum.
Emergency Medical Expenses is one of those things the IRS will allow you to tap into your Roth to cover.
No one wants to tap into a Retirement acct but...you may retire VERY Early by setting up equal withdrawals over your expected lifetime...as sort of an annuity.
There are so many complicated rules here and this topic is not for those that never ventured in the topic before. I started my Roth 25 years ago and have had time to think about Retiring now at 44.
Over the past 25 years as a young person, I had to deplete my Roth 2x and start all over again for being out of work and buying a house...but you just keep adding to the Roth and over time, you will recover again.
I highly recommend you speak to a tax planner to discuss your withdrawal options and how they affect you.
Cheers!!!
Good news for all then. I may have been misinformed. Thanks for the heads up...I hope this info helps many.
Maybe this info will help some...
In-Kind Transfers
An in-kind transfer simply means moving existing investments such as stocks or bonds from one account to another, rather than transferring cash. You can’t contribute to your Roth IRA by making an in-kind transfer of assets because the IRS only allows cash for IRA contributions. You can transfer in-kind assets from other retirement accounts, such as another Roth account, a traditional IRA or a 401(k) plan.
Transfer Types
The IRS allows you to move money into a Roth IRA from other accounts in three ways. With a trustee-to-trustee transfer, you instruct the trustee of a retirement account to send funds to the trustee of your Roth IRA. You tell the trustee how much to transfer and you can instruct him to move securities and other investments in-kind. A same-trustee transfer works the same way except both accounts are with the same financial institution. In a rollover, you withdraw cash from the original account. You have 60 days to deposit the money in your Roth IRA. Rollovers are cash only, so you cannot transfer assets in-kind by this method.
As Always, I recommend speaking to a tax professional or etrade before making any decisions affecting you in this way.
Since Escrows cannot be sold at this time, you will not be able to put them in a Roth. However, you may move WMIH shares into a ROTH now.
The only way Escrows would be in your ROTH NOW is if you set one up PRIOR to the date the Escrows were issued to you.
BTW, I am not a certified financial planner unfortunately, but I think I played one in a former life!!
Cheers and GLTA
Here's a trick to pay a small tax bill 2015-2016 and NO Taxes when you retire. There are rules allowing for early retirement in equal pmts over your expected lifetime, or allowing early tax free withdrawls for certain reasons such as disability or first home/education/etc.
Many on this board have moved their stock to a Roth already.
Open a ROTH IRA and make the MAX contribution. Of course you will have to pay income tax now, but think about it. Would you rather pay tax on... for example $1000 now, or when the stock is worth 20x that amount later?
It's up to you. Contact etrade or your broker to set it up for you and verify rules with your tax professional first.
If you do not have a ROTH IRA you are doing yourself a disservice.
Hedge Fund Billionaires invested LARGE in WMIH want their money too. They have the power to put the hot poker to Dimon. They are not going to wait much longer either, and are tired of the game as well.
To potentially answer you question on what is the strategy in spending 10 million on failed bids....
Any amounts spent to acquire potential investments generating eventual revenue is tax deductible. The details on how this deduction is used is usually up to the tax accountants advice to the company.
The loss/deduction can be used NOW, or on FUTURE income if desired. Its all up to what the company chooses to use the deduction toward.
Many investors do this (incur some kind of documentable loss at the end of the tax year) for tax purposes.
There is a plan to ALL OF THIS. We will not find out the big picture until LATER ON. It will make sense LATER.
4pm 27,000 trade happened driving the PPS up a bit. Any thoughts on if this is significant?
Tipp Hill Capital Hedge Fund Approach: ...check it out
http://tipphillcap.com/index.php/approach
also...
http://whalewisdom.com/filer/ycap-management-llc
Tipp Hill 13F Holdings Summary 09/30/15
% Portfolio: WMIH CORP. COMMON STOCK 7.5174%