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13Gs, form 15, closing bk, Tepper payments to investors, green flags, so many more signs of something pending.
We are close to something, but we've thought this before and nada. But, this feels different. Lots different. I wish the COOP price was rising on increasing volume from smart money though, and it's not. But that could be for fear of dilution. Investors are wary of what's to come. Who knows?
The coming couple weeks and months will tell the tale. Our book of life is overdue at the library folks. Let's hope it's a happy ending.
GLTA
tanja, I appreciate your viewpoints, as I do with AZ, LG, Ron, and many others who try to give useful input here. Please know that the vast majority of us do appreciate your input. I hope AZ and the rest realize that as well.
As to what will happen to escrows and COOP, no one knows with 100% certainty. But I feel that our ideas and theories point to good things on the horizon.
Hang in there and stick to your guns. It appears some news is in the offing that will help put many of these arguments to rest once and for all. I hope!
Two weeks to go for earnings, 2/25. Then we shall see if there is news. I say the first Q should be telling.
The bk is over. They can't stall for long now.
Thanks Ron. $27B plus performance/interest.
So many avenues for money.
NDT it is listed under JPM pr's on marketwatch as I said.
LP: Go to the JPM "press release" section in Marketwatch. Scroll down to Feb 6. https://www.marketwatch.com/investing/stock/jpm/profile
JPMorgan Chase 2020 Investor Day
4:19 p.m. Feb. 6, 2020 - BusinessWire - BZX
Mr. Cooper Group Inc. to Discuss Fourth Quarter and Full Year 2019 Financial Results on February 25, 2020
1:19 p.m. Feb. 6, 2020 - BusinessWire - BZX
The Vinetta Project and J.P. Morgan Launch Strategic Initiative to Help Close the Funding Gap for Female Founders
10:28 a.m. Feb. 6, 2020 - BusinessWire - BZX
The Vinetta Project and J.P. Morgan Launch Strategic Initiative to Help Close the Funding Gap for Female Founders
Phones won't show this. Need to use a desktop computer to get the full info. Could be nothing, but why is this listed under JPM press releases?
tanja, yes they were right in a sense, but....
It was the way they stated it that is troubling. Of course they spoke within the confines of the LT and related bk which was their purview, but their statements made it sound broad based, and that was wrong of them.
LOL. Broken record.
Yes tanja, and therein lies the dilemma, aka delay.
How do they distribute such massive amounts to the little people, aka us? Yet, they have no choice. If they distribute to the hedgies, they must distribute to us. No way around it.
Disturbing that Walrath and Rosen made such misleading blanket statements in court basically saying escrows were toast, when nothing could be further from the truth.
Thanks tanja. Great DD. Appreciate it.
Interesting theory. Bop is now saying Ps will get more than 10x par. Not sure about that, but the numbers are staggering. Lettuce pray.
lodas, I agree. COOP will be a behemoth.
Anyone who can afford to buy a position and put it in a drawer for a few years will be filthy rich. Now I will say, not to be political, that if Trump does not get reelected the market will tank. I'd be very cautious about equities if the polls are not favorable late summer.
I too have been a buyer and will continue to scale in. If earnings are good COOP could easily be a $20 stock this year.
COOP is the tell, riding the wave of WMIH assets soon.
BTW, isn't it interesting that JPM press releases on Marketwatch that COOP earnings are 2/25? Now why the heck would JPM care about COOP? ;)
Like saying nobody knows who will win the super bowl, or what stock will go up....and on and on.
Nobody knows anything until it happens. If we knew the answers to all things we'd all be billionaires.
All you can do is make your best judgment based on the facts at
hand.
Investing in equities is not for the weak minded, especially in distressed or bk companies.
Get real or get out.
That's the 64 thousand dollar question Monica.
If we knew that what a wonderful world it would be huh?
My guess is this Q1 will see some significant news for COOP and escrows. I can't imagine the hedge funds will sit back on their laurels much longer before all hell breaks loose in the courts.
4.2 million shorts have to cover.
If news is ready to hit shorts need to cover here. Expect runup to continue. Obviously something is coming very soon.
LOL. So Qs are worth $13 and Ps are just worth $520?
Too funny.
tony t. Who knows? My feeling is this will all be paid out over time from various avenues. Not sure what the final totals will be. Let's just get the ball rolling! I think we will start to find out about escrow payments in Q1, but could be any day.
If nothing happens in Q1 I would expect legal action to commence against the LT, JPM, and the FDIC. Hope Rosen, Bair, and Dimon are taking their vitamins because they will be put through the wringer.
Bonderman needs 30B to come back just to break even on his investment.
If that comes back at 75 25 it would pay Ps $3000ea.
Many schools of thought on 75 25. Let's see how it plays out.
10 million preferred authorized is an interesting total since there were 3 million Ps. The current P par value is estimated at $3000. That would equate to about 10 million preferreds. Hmmm.
Temocat, at this point all is educated conjecture.
Facts are on our side but our accounts still show zero, despite past dates that looked promising but passed with nada.
Things are different now my friend. The bk is over. The 15 filing and recent runup in COOP indicate something pretty big is ready to hit the wires, and hopefully, our accounts.
The upswing in COOP sp is exciting, especially with the market dumping. This week will tell if it was a dead cat bounce. If we get follow through, I say something big is coming.
wwhatthe, correct, but the FDIC came back saying the amount was 299B not the 307B.
I will gladly take the 299B. So as Dr A calculated 80B, I would venture a settlement being made of somewhere in between.
The 10k can't come soon enough for me. Things are finally starting to happen.
HLCE
Monday should be very interesting.
If the breakout continues something's up. Remember we had a solid day Friday on a down market day. Would like to have seen more volume, so let's see what happens.
Good things on the way IMO.
Agree tanja and AZ.
This will all happen in this first Q. The action in COOP shows something is coming, including great earnings plus much more. I have been buying more COOP in anticipation and will continue to do so.
Remember the "silence of the lambs".
COOP breakout indicates good earnings report coming, and maybe much more.
If we get follow through next week $19-20 isn't far off. Fair value.
I've been scaling in and will continue buying. Lots of upside, minimal downside risk.
Also watching breakout of RLGY. Housing sector strong.
Big things coming to COOP. And yes, it is the tell IMO.
Temocat, yes none of us can say with 100% certainty that escrows will get paid until we see it in our accounts.
But having studied this for 11 plus years, analyzing the docs and DD of many astute posters here and on BP, and taking into account the silence of the lambs (HF et.al.), I have come to a very positive conclusion of payment.
Now, how much and when, that is the question. I affirm that payment will come in stages over time. The trusts cannot hold these funds forever and I'd wager payments are imminent.
There are many avenues of payments. I expect cash,divvies, s4v, payment of the bank by JPM, and more.
IMO
Let me ask you this.
So with all the evidence of assets, and yes it is evidence, then why the silence from the institutions and HFs?
If I had lost billions on an investment that had this much evidence I'd be screaming from the rooftops.
So, why the silence. Think about it.
Call it "quiet confidence".
Great posts AZ. Thanks.
Yes, I agree. Not sure what is holding up the bank transfer except that it is such a very large transaction. The hedgies want to get paid and cannot be happy with this continued obfuscation.
I expect movement very soon, and certainly in this Q1.
Will escrows become trade-able?
Maybe so. But the danger is many retailers selling at bargain basement prices out of desperation. The big boys will scoop up shares faster than you can blink an eye. If the Ps go up on the market at $500 my guess is most P owners will sell. That's understandable after 11 years of waiting, but my personal position will be to sell the bare minimum to take care of personal needs, and hold onto as many as possible because the true value will likely be in the thousands per P.
With the average P retailer holding at 300-500 Ps, many will sell and lose the huge future gains to come soon after.
Do what you need to do but exercise caution. Once you've sold them they are gone forever.
Hopefully cash disbursements will happen at the same time so we can just hold onto our Ps, put them in a drawer, and reap much larger gains on them some months after.
AIMO
COOP will buy the assets and issue shares to the estate for those assets. Obvious.
Investors are crushing the share price because they fear dilution, which is actually quite ridiculously wrong.
COOP will be flush with cash via assets and will become a behemoth overnight.
You heard it first here. The agonizing wait is coming to an end.
Remember the FDIC POA was moved up from Sept to Feb to coincide with COOPs earnings announcement. Not a coincidence.
Tepper and Bonderman may beg to differ with you...
It's funny how so many think that Savitz and those two guys authored the book "Investing for Dummies".
But they did not invest billions on this just because they wanted an easy write-off, or because they just don't give two S--TS about losing money.
I firmly believe that they will have the last laugh.
Yes AZ and Bo, Bonderman would not have invested billions into this (as a board member no less!) if he didn't think it would pay off.
He knew what was behind the curtain, under seal, and redacted. These guys are not stupid.
Now that the bk is completed, there are undoubtedly negotiations going on in the background as we speak.
Welcome to the jungle, Uncle Bo. We are close. Very close.
Something wonderful is about to happen. ;)
Hotmeat, what do you think about this distribution to come? Your thoughts welcomed.
Yes, WMB notes have been paid. COOP is taking off.
The stars are aligning for what appears to be a major event. This week or next could be very big indeed.
And Mr. Tepper has clients to pay off this month. Hmmm, wonder how he knew back in Oct that this would all be happening.
Jiminy, $300B would do me just fine. Merry Christmas. Better late than never.
The good news is, this distribution tested the systems and accounts for big money to come....validation was crucial to the process, although this only validates class 22 owners.
Once this disbursement is thoroughly analyzed for accuracy and glitches, we are all set to receive other payments.
This indicates Ps will be converted to commons and or receive new COOP preferreds.
What was under seal and what was redacted
has never come to light, been discussed, or ever mentioned in court.
It's as if all that was swept under the carpet. So either it will soon come to light, or Walrath is even more corrupt than some thought.
I say the hedge funds will soon emerge to fight all this if we don't start to get paid. They are not going to shrug off billions of dollars, trust me.
Correct LG. Plus this:
The UWs were not stupid. And remember the bevy of lawyers they sent to the bop hearing...
Tepper is paying out billions this month. What does he know?
Walrath did not allow escrow holder info scrubbed by the LT. What does she know...
The hedgies wait in silence despite huge evidence of money in trusts...
And on and on and on.
Undeniable.
Why the sudden breakout in COOP....
Any payouts to escrows will cause reinvestment into "their" company, WMIH/COOP, because escrow holders have followed the company closely and know full well how undervalued it is. Not to mention bigger things, like assets coming very soon, S4V, etc.
Wow. Buy buy buy. $20 not far off.
Stars are aligning for a corporate event.
KKR converted. Everything turning into common shares of COOP. Ps will likely become COOP preferreds on an adjusted basis.
$40MM LT chump change distributed so we get some pocket money this week or next.
Remember folks, COOP is WMIH...
COOP will be a behemoth. AZ was right.
I believe there will be a distribution very soon. And more after that, maybe many more.
Now while I personally don't trust Mary and Rosie as far as I could throw them, they may have had the shareholders best interests at heart all along by downplaying the possibility of money coming back. This would stave off suits from various parties going after whatever they could get their hands on. Once the bk is officially closed, then disbursements to legitimate escrow holders can commence.
Now remember this: there were numerous redactions and items under seal. What were they?
Well, you should know by now. But specifics may never be fully known, at least by us.
A&M surely has been managing something, huh? There are so many avenues for money coming. IMO we will start to see something in Jan.
My money is on Tepper and the boys to get out the crowbars if necessary.