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Every stock differs. It is unlikely a single buyer would have more than one trade on the same stock to be effective near or after closing time.
Best regards,
David West
Por nada. A good recovery on your part. Goferit!
Whatever reascended is.
Please state the title of the rescission and the date when Congress rescinded the act, or a link to it, so the rest of us can be as knowledgeable and as up to date as you are.
The Stop Trading on Congressional Knowledge (STOCK) Act (Pub.L. 112–105 (text) (pdf), S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It confirms changes to the Commodity Exchange Act, specifies reporting intervals for financial transactions.
Lodas - Thanks!
Best regards,
David West
Lodas - Do you have any recommendations of books, videos, classes, or other learning tools on Puts and Calls?
Thanks,
David West
A light in the forest. Good job.
It is likely there are new COOP shares and reorganized WMIH shares. It must be that way to identify the shares that will participate in any value recovered from the trusts. If this does not hold true we already have any F&R we are going to see, except for an increase in PPS. It does not seem right that new COOP shares would share in the value of the Trusts. Time is now the Tell.
Shareholders buy and sell stocks, and march to the beat of their own drum. They may sell and not buy back in, depending on their own rules. Why they sell is as unclear as why they buy. In short - I do not know what motivates buyers and sellers. I only know what motivates me to buy and sell, and do not give others advice or the names of stocks.
NO ASSETS of the DEBTOR...
Refers to those assets declared by the debtor (WMI), accepted by the court and assigned to the WMILT. The safe harbor trusts were exempted by the court and not included as assets in the bankruptcy.
A post from the past (Tuesday, 05/29/18 06:54:09 PM):
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141152171
As I stated in a post several years ago, it is futile to predict dates, times or amounts of any recovery for shareholders. However, here is a probability that might come to fruition as time passes.
Firstly, I think AZCowboy is right about interest money returning from the safe harbor trusts. He is most likely wrong about where that money will go.
Secondly, the safe harbor trusts were not included in the bankruptcy. No doubt, the trusts are where the value of WMI was and that value was the subject discussed at length behind closed doors during negotiations prior to the approval of POR7 and redacted in many of the bankruptcy documents. Additionally, no shareholder of any ilk owned the capital invested in those trusts or received the interest from those trusts before the bankruptcy and they do not own or receive it now. Those shareholders only owned their stock and its value. If the court had included those trusts in the bankruptcy, the value of the trusts would have been assigned to the WMILT and liquidated, and all shareholders would have already shared proportionately. As it is, ownership of the exempt trusts follows the rule of bankruptcy law.
The post in the link above is how I describe the process of exempt assets. Basically, it works like this:
Whoever owns assets that are allowed by the court to be exempt in a bankruptcy still owns those assets when the bankruptcy is closed. In this case the parent company - WMIH. I expect any capital invested by the parent company – WMI - in the safe harbor trusts and any accumulated interest from those safe harbor trusts to be returned to the parent company - WMIH - and not to the owners of the RELEASED SHARES or to holders of escrow markers. Apparently, some accumulated interest has already been returned to the parent company - WMIH. A recent example of who is in charge of the value of the trusts is when WMIH used some of the returned interest to fund an action with one of the company’s subsidiaries – without asking permission from the owners of the RELEASED SHARES or permission from holders of escrow markers. The parent company – WMIH - will decide how to use any returned value or how to pay any value to those who own RELEASED SHARES, not to holders of escrow markers. If there is a requirement to restore ownership levels to pre POR7 levels, it might mean if the value of the trusts is returned to the parent company – WMIH -, it will increase the value of the parent company and by default increase the value of the RELEASED SHARES, requiring a forward split to bring the PPS down to a tradable level. Because all pre POR7 shares were converted to common, Ps and Ks will probably not be restored. For example, if $xxB is returned, increasing the value of WMIH, a calculation based on that value would be passed on to those who own RELEASED SHARES by doing an appropriate forward split of the original RELEASED SHARES. Ps and Ks had their shares converted to many times more commons than QUs and would be lumped in with common RELEASED SHARES for a forward split.
Notice I emphasize RELEASED SHARES. It is irrelevant who owns them, and it is irrelevant what your escrow marker number is. The only thing relevant is what affects the RELEASED SHARES and by default, the owning shareholder. Basically, John Doe shareholder has only those rights which affect a RELEASED SHARE he owns. If someone later buys that RELEASED SHARE John Doe shareholder has no further rights in the RELEASED SHARE he sold. The danger here is if John Doe shareholder has 2K RELEASED SHARES and sells them, he may have lost his right to participate in anything forthcoming to RELEASED SHARES. The right to participate will belong to whomever bought the RELEASED SHARE. It may be the reason behind the buyback. The RELEASED SHARES are more valuable than new shares because of their potential to receive good things when the safe harbor assets and interest income are returned to the parent company, such as a forward split. It is unlikely the escrow markers will be used for future calculations on returned monies. I think it is the RELEASED SHARE itself that holds the value. What if this is true and the parent company holds the majority of RELEASED SHARES when any income values from the trusts are released? Who owns the most RELEASED SHARES now? Who is collecting more RELEASED SHARES every day? Think about it.
This is only another hypothesis or theory. I offer no links of proof, but the clues and rules of bankruptcy are there if you look for them.
I hope I am wrong and all who subscribe to the theory of direct payment based on the escrow markers are correct. My escrow number is 500k and my cost is around $0.07 per share. I bought in because an equity committee was formed, because Willingham bought 1M shares, and because the value of the parent company was touted as an amount around $370B. That money has to be somewhere. Lastly, I counted on a good ROI from my RELEASED SHARES or from my escrow markers. Holding only original RELEASED SHARES, I am ahead right now by a little over $18K. I think the PPS will get a lot better.
Good fortune to all.
TPS PQs 3,729,658.26
PQs 2,906,421
Good stuff - Andy and LG. Thanks for the consolidated reposting. I recommend non escrow shareholders read these thoughts very carefully.
Best regards,
David West
I voted for Trump because I thought he was the least qualified to work with Congress (the status quo) and the best qualified to screw up the system. I hope he screws it up so bad it takes 300 years to unscrew it. To date he has conducted himself exactly as I predicted. It is icing on the cake that his efforts produce as well as they do. Harsh problems require harsh solutions. “Hold ‘em by the nose and kick ‘em in the ass comes to mind.”
Any American who does not adhere to “America first at any cost” is in the wrong country.
Why are interest rates so low?
https://www.marketwatch.com/story/5-reasons-real-interest-rates-are-still-so-low-2018-10-17
Your logic is sound. Thanks!
For those of you who like, or dislike, numbers, during the mandatory fee posted to your TD Ameritrade account late last year, TD Ameritrade collected $38 x 300 million customers = $11,400,000,000.00. This was a mandatory fee charged to customers during the WMI – COOP conversion. The math is approximate, TD Ameritrade stated to me they have in excess of 300 million customers.
Obviously, we are in the wrong business.
You might want to check your facts and refine you historical statements. For example, Julius Caesar had already fought the Gallic Wars, and the Roman Senate had ordered him to disband his army before he violated Roman law, crossed the Rubicon River with his army, and marched into Rome. Omar Bradley was the Field Commander of American forces, and was aboard the cruiser Augusta, about two miles offshore, during the Allied landings on the beaches of Normandy. British Field Marshall Bernard Montgomery was the initial Commander of Allied Forces during the landings, later replaced by Dwight D. Eisenhower, becoming his deputy Commander.
Not everyone can admit they were wrong. You did. It makes a difference to many on this board that you had the courage to say so. Let us move on.
If the value of WMI, as reported by WMI, existed before the bankruptcy, that value has to be somewhere, and that value should belong to those who signed releases. Where that value is, and how it will be returned to us are the important questions. It is futile to speculate on when and how much.
All assets that were to be transferred to the Trust have been transferred to the Trust in accordance with the terms of the Global Settlement Agreement approved by the Bankruptcy Court.
Maybe hotmeat can interpret that statement for the board.
You are spot on about ETS. After googling the acronym, I see there is much confusion on its meaning. The important part is that it is an indicator to a soldier when he or she can expect to be a civilian again or re-enlist.
Not Elapsed Time In Service.
ETS = Estimated Termination of Service.
Not LRP.
LRRP = Long Range Reconnaissance Patrol.
Bullshit!
Jean Paul Getty (December 15, 1892 – June 6, 1976) was an English American industrialist, and the patriarch of the Getty family.
What is 'Short Interest'
Short interest is the number of shares that have been sold short but have not yet covered or closed out. Short interest, which can be expressed as a number or percentage, is an indicator of market sentiment that tells whether investors expect a stock's price is likely to fall. (Investopedia)
********
Data from any source is always questionable unless you count the beans yourself. For example, TD Ameritrade shows that the % of the WMIH Float (901,907,000 shares) currently shorted is 7.88%. If we do some simple math using the available numbers (float times % of float) 901,907,000 shares times .0788, we see that 71,075,236 shares are shorted. MarketWatch Data is different (as seen below), but the pattern can be used to detect what those who short WMIH stock may be planning. Between June 29 and August 22 of this year the % of Float Shorted (MarketWatch) has risen sharply. At an arbitrary value of $2 per share, 16,680,000 shares of WMIH is worth $33,360,000.00.
If the BOD does a reverse split of 16,680,000 WHIH shares at price share $2 using a ratio of 1 for 12, the resulting single share will have a value of $24, and the total amount of shorted shares left will be 1,390,000. The value of 1,390,000 times $24 is $33,360,000.00. If the resulting new shares are shorted to be worth $5 their value will be $6,950,000. If the shorters all buy back in at $5 they will realize a profit of $33,360,000.00 minus $6,950,000 which equals $26,410,000.00.
(MarketWatch Data)
As of August 22, 2018
Public Float: 901,970,000
Short Interest: 16,680,000
% of Float Shorted: 1.85%
As of July 31, 2018
Public Float: 901,970,000.00
Short Interest: 16,679,272.00
% of Float Shorted: 1.85%
As of July 13, 2018
Public Float: 901,970,000.00
Short Interest: 6,371,914
% of Float Shorted: 0.71%
As of June 29, 2018
Public Float: 901,970,000.00
Short Interest: 5,836,761
% of Float Shorted: 0.65%
If you own 24,000 shares of WMIH and sell @ $2 per share before the reverse split, you will realize $48,000.00. After the reverse split and after the stock is shorted to $5 per share, if you buy back in, using the whole $48,000.00 @ $5 per share, you will have 9,600 shares ($48,000.00 divided by 5 = 9,600 shares). Then wait for the share price to go back up.
There will be NO share 4 value exchange as they have received no value of any Estate assets.
Implies that the situation may change if someone receives a value for estate assets.
Any Estate Assets should be considered still under Trustee management, or FDIC.
Implies estate assets actually exist.
Hope is eternal.
Beneficial Interest (Escrow Marker)
What is 'Beneficial Interest'
A beneficial interest is the right to receive benefits on assets held by another party. The beneficial interest is often related to matters concerning trusts accounts. For example, most beneficial interest arrangements are in the form of trust accounts, where an individual, the beneficiary, has a vested interest in the trust's assets. The beneficiary receives income from the trust's holdings but does not own the account.
https://www.investopedia.com/terms/b/beneficial-interest.asp
Xome, a HousingWire Tech 100 winner and wholly-owned subsidiary of WMIH Corp., the parent company of the Nationstar Mortgage Holdings family, announced Thursday its acquisition of Assurant Mortgage Solutions.
https://www.housingwire.com/articles/46351-nationstars-xome-acquires-assurant-mortgage-solutions
98.23M Common Shares Outstanding.
1,645,499 shares traded after hours. Low was $1.36.
$1.41 minus $1.36 = $0.05
If shares are converted @ $1.41 ->>>
$0.05 x 1,000,000 = $50,000 per 1M
If the stock goes lower, the margin increases if sold.
With the collapse of Washington Mutual in 2008, JPMorgan Chase has become the successor to H. F. Ahmanson and Co.
https://en.m.wikipedia.org/wiki/H._F._Ahmanson_%26_Co.
Effective Date of POR7: March 19, 2012
03/27/2012 conversion 100,000 times 0.03349842 = 3,349.842
08/03/2012 conversion 100,000 times 0.00076346 = 76.346
08/03/2015 conversion 100,000 times 0.00056612 = 56.612
Total: 3482.80
Rounded to: 3,483
3483 times 6 = 20,898
11 U.S. Code § 554 - Abandonment of property of the estate | US Law | LII / Legal Information Institute
https://www.law.cornell.edu/uscode/text/11/554
Avoidance Powers Under Section 544 of the Bankruptcy Code In Whose Shoes Are You Standing | ABI
https://www.abi.org/abi-journal/avoidance-powers-under-section-544-of-the-bankruptcy-code-in-whose-shoes-are-you
Hope is eternal. However, I recommend you learn-up on how things actually work, watch as the saga unfolds, and be prepared to buy or sell at the best time.
WMIH is in control of all cash and assets not included in, or governed by, the bankruptcy court. That includes the value on any trusts and their income streams - if any. If there is a disbursal from the trusts or income streams to those of us who signed releases, not including those WMIH shares purchased after our release, WMIH will be in control of that event and not the WMILT or any other entity within the realm of the bankruptcy.
Whatever WMIH is doing, it is within the realm of being legal - even though we do not know what they are doing and do not like most of what we do know. If there is cash or assets returning to WMIH, they will disburse their value to us or not, according to law.
From my previous post #520509 2018-05-29
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141152171
If person Y files a chapter 11 bankruptcy, there may be some trusts involved. Take some time and read-up on revocable and irrevocable trusts during bankruptcies. Some of these trusts (usually irrevocable trusts) are exempt from the bankruptcy proceedings and are exempt from the outcome. During the bankruptcy of person Y, the court ignores these trusts, refusing to allow them any consideration by anyone during the process. Meanwhile, the status, ownership, and management of the trusts remains the same – person Y. During the bankruptcy process person Y submits a plan of reorganization (POR) that the court approves and, except for some housekeeping entities, such as a liquidating trust that liquidates only assets allowed in the bankruptcy and distributes their liquidated value to the appropriate entity, the court declares the bankruptcy finished. Person Y now emerges as reorganized person Z. Person Y is the same person as person Z, only - reorganized. The best part is that the exempt trusts that belonged to person Y during the bankruptcy now belong to person Z. The court never allowed them in the bankruptcy, never will and therefore, the liquidating trust cannot liquidate and distribute their value.
Although the trusts involved here are different and have multiple owners or investors, this type of scenario also applies to WMI – now - WMIH. The management of the relationship between WMIH, the trusts, the accumulated value of the trusts, and any income stream from the trusts, that WMI protected from creditors and protected from the bankruptcy with securitizations and safe harbor, now belongs to the reorganized WMIH – not the former WMI, not the current WMILT, and not the former shareholder.
Also, I think the key to your argument is that any value in WMI or in WMIH ultimately rests in the value of the share, and has nothing to do with shareholders before or after the bankruptcy. If there is a mechanism for keeping a disbursal separated from those shares purchased after our WMI shares and all of our WMI rights affiliated with those shares was cancelled, WMIH has it figured out.