Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Your WAMPQ pps is low because of people like me selling low.
If I want cash instantly, I always sell under the bid. If I want to buy a stock and have it within seconds, I always bid over the ask. Some people say that is stupid and crazy, but the "market value" is simply relative. When I want to do something I do it, and it does work well for me.
I still buy low and sell high, but when I sell, sometimes I sell low, and when I buy, sometimes I buy high, if you know what I mean.
I am a ROOKIE, but I am up on WM and have my positions locked in.
I am not a shorter or anything like that. Never have been, never will be. But, we've gone over this before. People are selling this off low to liquidate. If this stock was as strong as you say it is, when I dump of shares at $3.33, the MMs should gobble those up for freebies and raise the price back up. Thing is, nobody is chasing WAMPQ around. It's sinking, and that is why I sold. This hearing will be over quicker than most think, but a couple of these stocks are going to "show" the long wait more than others.
I think you are wrong when you sit around all day and blame the low pps on the MMs. It is not due to manipulation. If this was the hot stock, then you would see large lot purchases going through left and right. This is not the case.
The float is low on this bad boy, and yet the demand still isn't there. That should tell you all you need to know about WAMPQ right now.
It will be evident when the MMs are manipulating this stock.
Right now is not that time.
You can steal someone’s assets and sell them to someone else.
You can steal someone’s cash, and sell it to someone else.
You can steal someone’s assets and cash, and sell them both to someone else.
But……..There will be serious repercussions for the illegal actions that took place.
Think about it.
FDIC: Hey JPM, Here is a $#!t load of banks and deposits that don’t belong to us , but we know that you want most of them, but we gotta make this quick. One of the deposits is worth $4 billion and you can have that $4 billion as part of the deal.
Dimon: Ok. How much for the whole kit and caboodle?
FDIC: How about $1.9 billion in cash?
Dimon: The $4 billion in cash is included in the price, is that correct?
FDIC: Yes. The price includes everything we discussed after your negotiations with them resulted in an unsuccessful execution of a buyout.
Dimon: Sounds good. Draw up the papers and we’ll get ‘em signed. Make the verbage precise. I don’t want anything to come back and bite us in the @$$ on this one like the BS deal. I want to pay 1 time.
FDIC: Don’t worry. We’re almost done with the papers already.
Dimon and FDIC: Hank. Hank. Are you ok? You don’t look so good. You gotta get some sleep.
Hank Paulson: (nervous silence due to him being even more involved than the FDIC, and because Bernanke is blowing him off)
Dimon: Are you sure we should do this? We know they have enough cash to cover all of their deposits.
Bernanke: Slurp, slurp. We are doing this. Slurp. It’s already done. Their ability to cover their deposits has nothing to do with it. Slurp, slurp, slurp, swallow. : ^ )
Paulson: Ahhhhhh.
The 3 little Pigs are all going to have their houses blown down by the Bair the big bad wolf.
3 Little Pigs = Paulson, Bernanke, and Dimon
Any way you break it down , the story has just begun. For anybody who is worried, WMI’s assets are much greater than their liabilities. They are in an even stronger position without WaMu branches, and are currently and literally under protection. It is mandatory that all relevant and requested documents be provided. The value of WMI is not really a question anymore, at least for me, and hasn’t been for a long time. In addition to their value, WMI is going to benefit greatly from being in Ch 11 and all of us on these boards will to.
Estimated End Result = Revaluing of the common stock (unless it takes off running, which it VERY well could) in which case no cash would need to be paid to any shareholders as the market would literally work things out for itself + Big time awarded damages + Prison Time
Bair is going to be the one to end Dimon and Paulson’s Big Gay Block Party which will soon be turned into their Big Gay Cell Block D Party, where non- consensual activities are always allowed and where the foot-longs are free everyday!
I sold all of my WAMUQ and WAMPQ today (dumped WAMPQ at 3.33 and the price never recovered), and bought more WAMKQ (I moved the pps up to .17 this afternoon).
I will be buying more WAMUQ after the pps goes down because I know that the shit is almost about to hit the fan, and I just put on my safety goggles because I am going to go sit back down and watch the early developments of the s#!t storm of the century my friends!
I’d say good luck, but this isn’t about luck.
In the case of Washington Mutual, I know much more than you my friend.
showmethemoney?
Good to go buddy!
A-Team is right.
Washington Mutual has their aces in their places!
****Uploaded today. There are changes. Don't immediately respond and say it's old. It's not. It's a distraction. This thing is going to be over quick.
I personally feel WAMUQ holders are going to be good to go. If the name of the game is trust, then you all invested in the right company.
MUST READ! New Dates! Other changes?
"(b) or seek a waiver of such requirement is hereby extended by up to
and including FEbruary 6, 2009 soley with respect to the non-gov
backed security positions in their bank accounts. .."
http://www.kccllc.net/documents/0812229/0812229081208000000000001.pdf
Reporters are morons. Not all of them, but most of them. This is either an intentionally inaccurate quote, or gross negligence. They either said it like that on purpose, or they didn't know and should have.
I also hate the way people refer to WaMu and Washington Mutual like they are interchangeable. Just because a stock symbol includes the letters WAMU, doesn't make it ok in my eyes to refer to Washington Mutual as WaMu, especially considering the circumstances.
I swear there should also be an international proofreading association that has the ability to fine idiots who make a gross amount of mistakes.
I am going to sell all of my non-WM stocks first thing in the morning and go all in with the Ks. I was going to keep some money out, but am still more than strong in my position with the Ks. I don't care if these things trade at .01 and wish they would, because of the terms, because they are preferreds, and most importantly because they are backed by Washington Mutual If I had enough money to back a margin account I would and would trade WM options.
Also, anyone who thinks that this is going to be a long bankruptcy is a moron. Everybody thinks it is going to take a long time. Bottom line is that in about 2 1/2 weeks…………….
It is going to be 3 months ALREADY. They’ve been long days, but it’ll be a quick 3 months. That's what being excited does for you. It's ok to be excited. It's just unfortunate that pessimists are so quick to use the P - word whenever someone shows genuine excitement and the B - word whenever someone presents an opposing argument.
This is not your average bankruptcy case!
This is true in its fullest form.
Good observation z ! Also, thanks for all of your hard work!!
There is absolutely no reason to be negative.
WMI is worth a LOT more that many people think and once the media can talk about this, they will have EVERYTHING going for them.
If anybody has any data to suggest otherwise I would LOVE to see it.......................
Nobody can answer that with certainty.
Use your best judgement.
There are more than enough posts on the various boards on this topic and there are more than several resources available for you to make a decision.
ALL WMI stocks are a GREAT INVESTMENT!
It depends on your short/long-term goals.
I would say good luck, but this is not about luck!
The waiting is ALMOST OVER fellow wamuers. The good news and the crazy news is right around the corner, and there is nothing anybody can say to make ME sell. No way! There are so many theories going around that are completely ridiculous and baseless, and I recommend to anybody that is worried, simply turn off your computer and leave it off. These stocks are not going tank and even if they were, it would happen so fast that you wouldn’t even be able to sell what you have anyways. Chill. Youse are going to be fine. No link for that. Lol
THE CURRENT PPS OF ALL SHARES IS MEANINGLESS AND INSIGNIFICANT. THE WAMUQ CHART IS MEANINGLESS, INSIGNIFICANT, AND COMPLETELY MANIPULATED, EVEN MORE SO THAN THE PREFERRED CHARTS. THE “DOWNWARD TREND” THAT SOME FEEL IS MEASURABLY SIGNIFICANT, IS NOT SIGNIFICANT AND IT ONLY GIVES SMART PEOPLE AN OPPORTUNITY TO BUY MORE. THE NUMBER OF DAYS FOR YOUSE KNOW WHO TO COVER ARE SHORTLY COMING TO A CLOSE.
THE PPS DOES NOT ACCURATELY REFLECT THE TRUE VALUE OF THE COMPANY, AND IF YOUSE SUGGEST OTHERWISE, THEN YOUSE IS WRONG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The reason I love ihub is that there is real moderation and discussion control. If posts are removed, it is because they are off-topic or inappropriate. Anyone who thinks otherwise is WRONG.
THE BK IS NOT GOING TO TAKE AS LONG AS MOST PEOPLE THINK. WHAT IS GOING TO TAKE THE LONGEST IS THE LAWSUITS THAT ARE FORTHCOMING! CONSIDER YOURSELVES NOTIFIED!!!!!!!!!!!!!!!!!!!!!!
So, since posts of the following nature are not allowed here at ihub, for good reason, I have provided some very amusing links.
I think everybody around here could use some comic relief, and the following 5 links might help.
They are directly related to the WAMU situation and are from the JPM board at GOOGLE.
Something tells me that posts like these are going to increase in VOLUME. I don’t have a link to SUPPORT that, but I would BET BIG that what I say is true. Enjoy!
http://finance.google.com/group/google.finance.665639/browse_thread/thread/55e8286139913d62#
http://finance.google.com/group/google.finance.665639/browse_thread/thread/9e413f6b14ff70f3#
http://finance.google.com/group/google.finance.665639/browse_thread/thread/f4642502386a9d5a#
http://finance.google.com/group/google.finance.665639/browse_thread/thread/7eb7e230ebd4b5ee#
http://finance.google.com/group/google.finance.665639/browse_thread/thread/587d2ed2bbb22a8f#
http://finance.google.com/group/google.finance.665639/browse_thread/thread/950e833cefa4cb8e#
HOLD STRONG and ENJOY THE SHOW! WE ALL HAVE FRONT ROW SEATS TO THE S#!T STORM OF THE CENTURY AND IT IS GOING TO BE MORE THAN ENTERTAINING!
CAN WASHINGTON MUTUAL INC SUE THE FDIC?
They not only can, they most certainly WILL. Anyone who thinks that WMI is not going to SUE JPM truly is a MORON. Hands down.
There is a 0% that no LAWSUITS WILL BE FILED.
http://query.nytimes.com/gst/fullpage.html?res=9F0CE4DB173DF93BA25751C1A965958260&&scp=1&sq=FIRST%20BANCORP%20OF%20TEXAS%20LAWSUIT%20FDIC&st=cse
(if the link doesn't work search for First Bancorp of Texas and FDIC and you'll read about the settlement)
Also, please look at this neat little article:
"JPMorgan Chase would like to become a qualified public depository as soon as the law changes to make each bank responsible for its own losses or if we determine it is an acceptable risk-return situation,” according to the statement.
Those words, along with all quotes from JPM and their
representatives are 100% complete bullsh!t.
There are several reasons why JPM "failed to file the required
paperwork for permanent status by a deadline of last Wednesday". One of them is that these very same deposits that must find a new home,
would have certainly been withdrawn by the public entities as soon as
THE TRUTH COMES OUT, through the voice of the mainstream media AND LAWSUITS are filed.
This truly is only the beginning, and it is
THE BEGINNING OF THE END OF JPM as we know them today and have known them throughout their incorporation.
http://www.bizjournals.com/seattle/stories/2008/12/01/daily33.html
Also, here are some reasons why the WFC filing was a good thing for ALL WASHINGTON MUTUAL INVESTORS............
1. They are not behind on any payments.
2. WFC HAD to file that document so it
was a permanent record in the court case.
3. This is NOT new debt (it is part of the $8bil)
4. This is actually a good thing. This takes care of precisely
accounting for over 12% of WMIs total debt.
5. None of this $1.15 Billion is due immediately. In FACT, it
is
to
be paid off over the next 30 years.
6. None of WMIs creditors are secured, all are unsecured.
7. The filing of WFC made it clear that they are making NO other
claims.
8. In addition, NONE of WMIs total debt is due "immediately".
Also, ALL
of WMIs creditors are people that WM has had a TRUSTED relationship
with for years, they all know WMI got their bank literally stolen
from them, and if anything, repayment of much of their debt can
easily be pushed back if creditors so choose.
So, in summation, any analysis that thinks that the filing of WFC
and the $1.15 Billion of Debt is a bad thing, is , you guessed it.......................................... a MORON.
My goal is to make sure that everybody knows how to calculate the TRUE VALUE of these securities.
Please pay particularly close attention to ETRADE. As they are ACCUMULATING as many shares of WAMKQ as possible. I KNOW this, and no, I cannot provide a link proving that I KNOW.
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=WAMKQ&SortBy=volume&Month=11-1-2008&IMAGE1.x=8&IMAGE1.y=11
I am not a "basher" . I am not a "pumper". I am actually a basher BASHER and forced a LOT of idiots off of the GOOGLE site through methods of aggravatious persistence. For those of you who participate at yahoo, jstsko will be hanging around there as he "left" the yahoo site.
Bottom line is pal, WAMPQ will provide a good return on your money, but you really would be better off loading up on WAMUQ to make the most money. I am in love with WAMKQ out of the 3 preferreds for many reasons, but if you want to talk reality, any way you break it down, WAMPQ can never = more than 115 shares of common (unless full LV in cash is paid, which is more than highly unlikely) and for that reason, along with many others, at current prices, WAMUQ is a much better BUY than WAMPQ ................
IMO too many of you guys think that the low pps of WAMPQ is due to the MMs. I disagree.
I think you see the pps drop because people simply dump it under the ask. I have done so with 250 shares. When I want to liquidate something, I do so immediately. If I throw out 50 shares .10 under the ask, my trades go through in 2 seconds. I do the opposite when I buy. If I want something, like WAMPQ for example, that is , let's say trading with an ask of $4.95- $5.00, I always put in my bid at 5.10 to 5.15 as I would rather get what I want when I want it, especially if it is something that I want LONG.
I think that factors such as people DUMPING WAMPQ to buy one of the other WM stocks or any other stock, plays a much bigger role that you boys think. Also, it doesn't really help the market price when most bids are placed under the MMs ask. If you would just give the MM what he wants (which he will get anyway, so why waste your energy?) trading would go much more smoothly.
So, I think you guys put too much weight on the MM by the MMs. This one will eventually run after the others, but again, as it stands, the TRUE VALUE of WAMPQ is very much up in the air, and if it ends up getting converted to commons, it is very risky betting big on WAMPQ because its value is is very much dependent on the price of the common stock.
Is WAMPQ a GREAT stock? Absolutely
Is the low pps simply due to the MMs manipulating the price?
Absolutely not.
This is one pinkie that is never going to get to .00001 my friend!!!
But something tells me you already knew that.....
You are incorrect sir. I suggest you better familiarize yourself with the terms of the R-series preferreds. Not only can they be converted before 2040, WM has the right to pay cash to the holders whenever they want at whatever price they want.
They cannot convert while in ch 11, but the most likely of scenarios is that they get converted. They are going to be out of ch 11 sooner than you think, and they know that they are never going to have an "extra" $3 billion laying around to hand out in exhange for paper. No way. Not now, not in 2040.
They know this, and so does most everybody else. If they don't have the cash to pay them out, you can't really let them continue to trade as they would not be worth sh#t if everybody knows that you don't have the cash to actually pay them out in full. This is why the wampers
The wampers were a risky investment and those that bought them knew this. They are actually protected by the conversion clause.
The Ks are in much better shape as this seems to be what will be referred to as the "standard" preferred, the divis are much smaller compared to WAMPQ, and the LV is much lower.
It will be interesting to see how it plays out for sure, but the conversion of wAMPQ is inevitable.....
There is nothing easy about watching your portfolio go into the red by the thousands. I have lost more market value in the last several days than I even initially invested and it still sucks to watch.
If these stocks were going to tank, they would have already done so.
WASHINGTON MUTUAL is not only going to continue to operate, but they are operating as we speak.
Just by looking at their operating report their #s are fine, and that does not even take into consideration the TRUE VALUE of their hard assets.
WM is in a much better position now than they were in before their "collapse" as they have shed the GIANT that is WaMu , which ironically saved them money by eliminating huge costs/liabilities, etc, AND they get to benefit from the inefficiencies of WaMu in the form of the NOL.
WaMu was too big, and it is actually a good thing that FDIC stole it. WMs sums actually make money which is a good thing for everybody.
Don't worry. HOLD STRONG and/or BUYMORE
You are going to know soon enough how this is going to play out and the best thing you could probably do is turn your computer off. If shit hits the fan and the stock tanks, there is nothing you'll be able to do about it anyway. NOne of these stocks are going to tank, but no matter what happens, the results of these events are out of your circle of influence. As you said, you have no choice but to hold, but you should not be skeptical. There is no way that this one is going to end like 99.99 % of BK cases. No f#cking way man!
Have a great night!
Good move holding cash right now. Just make sure you don't stay out for too long. I guess prices could still come down a little bit, but sh!t man, if you can get WAMUQ at .03 and WAMKQ between .15 and .20 then you are doing very well.
I actually haven't researched this one enough either, however, it seems that the conversion into preferreds is exactly what was supposed to happen if an exchange event occured. I believe that when the securities were issued and the possibility of converting to the K series preferred upon an exchange event was included in the issuance, then at that time, such k series preferreds are authorized at that time, are accounted for, and are always available in case an exchange event does take place.
I don't know how much of an effect it really has on the value of any of the preffereds. Bottom line is that all of these stocks are going to be the next craze and they would run even if there were 5 billion outstanding.
Make sure you get back in brother. PPS is low everywhere and it is FRIDAY tomorrow.
Misdirection and misinformation is the name of the game and just when you think something is going to happen, nothing does. And just when you think that nothing is going to happen, something does.
crazy crazy crazy crazy crazy
The hardest part about the upcoming days is going to be
not selling once it runs. If "they " were smart, they would run it up on the last day of trading to get even more people than usual to sell.
They loaded up after the serious shakedown that has been going on, and they could load up again by simply bumping the price up in healthy chunks like they have been doing every so often.
The bottom line is there is no certainty as to when the DEAL is going to go down, so I would disagree with those who say sell and wait to get back in lower later, because oh yes, one of these days we aren't going to be able to pick them up as cheap as we have been able to lately.
WAMKQ is simply a BUY BUY BUY BUY BUY !
If you want to make money by flipping, go nuts with WAMUQ...
NITE is playing these as smart as possible.
He always bids low and when he sells, he holds his ground at his ask , and while he is holding his ask, he gobbles up shares that come in underneath his ask price.
I GUARANTEE the ETMM is accumulating a HUGE inventory and NITE is doing the same.
Once the REAL RUNS start, the waiting is going to pay off for EVERYBODY.
It is GREAT NEWS for INVESTORS!
jstsko is a moron.
By converting those securities into K shares, it helped out WM investors by showing that WM does not leave shareholders out to dry. The holders of those securities that were exchanged for K series preferreds, were compensated for their shares that underwent "an exchange event". When such an exhange happens, the shares that are issued were already registered and accounted for, and since they were issued K series, this indicates that the K series 'level" of securities is good to go.
Also, the following statement has no place in logical discussions.
"This means that whatever scraps are left over, they are divided equally"
No exchange event has taken place with regards to the Ks and the Ps, so
Again, anyone who thinks that any money is going to be split up between preferred shareholders is simply fooling themselves. We are not in ch 7 and no liquidation is taking/will take place. WAMKQ and wAMPQ holders will not be receiving any cash from WM except in the form of dividends when declared. Period.
I am always open for an argument so let's hear it.........
If you're looking for an apology you are going to be
waiting a LONG time...............................
: ^ )
Gotta go to class.
Keep these guys in line for me until tonight!
Ahhhh, it is GREAT knowing that I am stacked with WAMUQ and WAMKQ!
: ^ )
The following link SUMS up my feelings on Jamie Demon
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33853933
So there must be huge time shorting going on because
yesterday I picked up some BDRR, but it took me forever.
When the price moved up to .001, I put in bids at .0007,.0008,
.0009, and .001. The ask moved down but I put a bid in at
.001 as I do not care if that would have been overpaying, I wanted my shares and don't care about .0004 . So, once my bid was in at .001 , my trade went through right away, however, it went through at .0006, which was .0004 lower than my bid. It is clear that the MMs needed the price to move back down and passed up several overbids in order to drive the price down.
Shame on them!
It would be in WM's best interest to not pay dividends to
WAMPQ holders and simply convert them to common. No wasted money paying ridiculous dividends and no wasted money pay a dollar value for each share, which they don't even have to do.
WAMKQ will continue to be paid dividends as it is much cheaper for WM to simply pay the divis on schedule instead of missing 6 and having to pay out $500,000,000.00 if they don't have to.
WAMUQ will be revalued based on the assets and put back on the BIGBOARD with WAMKQ and the other preferreds that haven't been/won't be converted into commons.
Well somebody made a HEALTHY purchase of 100,000 shares
at 3:15 today, that didn't register 'till 3:26:24
Which I had the $$$ to buy a stack like that!
Today's action was beautiful as always!
Diagnostic imaging is already HUGE.
I used to work for a health insurance GIANT
in their Medicare Advantage Department and
let me tell you, with the always increasing Medicare Population
this industry is going to EXPLODE in the next 1-5 years.
Good pick with this one guys. No doubt about it!
Thanks for your posts!
Sound like a SOLID plan!
Sure wish I was planning on making that move.
Have a good day Jerle!
You are worth more than that!
The only money that needs to be considered for preferreds is that for dividend payments.
Nothing else is due to preferreds.
WM is in great shape and is a perfect position to be bought out or to continue to operate (which they are already doing).
Commons have nothing to fear and it is absurd to think that all you will get is .24
It's ALL GOOD boys a girls..............
Thanks buddy.
Definitley hold.
If no BUYOUT is executed, make sure you still HOLD.
It is very important to HOLD STRONG no matter what happens to the pps.
If the stocks were tanking, they would already be at .0001, which they are not.
WM has more than enough assets to continue to operate, which they are doing right now, they were too widely held by funds and other investors such as TPG to wipe out the common stock. Bottom line is that you're in and you are in a great position to capitalize.
Have a good night!
Preferreds are not worthless, but that is not referring to WAMPQ , WAMKQ, or WAHQE pal.
Try again.
This time look at which securities your message is referring to.
There has been nothing to constitute a fundamental change with regards to WAMPQ, WAMKQ, and WAHQE. They never stopped trading and they are not going to. They are worth what they are worth. WM is not liquidating nor will they be. These bad boys will continue to trade. Don't expect any sort of a payout for any of the preferreds.
: ^ )
Don't get me wrong, 115 shares of any common stock, especially one as underpriced as WM is hardly a bad thing.
I am just talking from a pure investment perspective, WAMKQ has the most to offer short AND LONG term.
I am done preaching.
Time to sit back and watch.
The only WM stock I've sold in a month is WAMPQ in order to take advantage of low WAMKQ and WAMUQ prices.
WooooooooooHOOOOOOOOOOOOOO!
My guess is they'll drop it to .17 and then all the way down to .15 and leave it there for a LONG time.
Once they are certain they have scared everybody that is going to sell into selling, that is when the REAL RUN
starts.
Thanks for the charts and the analysis.
I finally posted a link showing the true conversion of WAMPQ.
I almost didn't do it, but figured I really should.
If they aren't going to tell the TRUTH on their board, and come over here and tell our guys that I "mislead" people, then I will simply post a strong message that once again supports my statements.
That's it though. No more free links, even though there are a couple available regarding recent decisions dealing with WAMPQ dividends before the "collaps".
Have a good night man!
It says that NITE is working his @$$ off and really knows what he is doing.
They are making this look like every other BK stock even though nothing could be further from the truth.
Look at how many shares they shook out of weak hands today.
Unbelievable.
Exactly. No doubt about it that the TRUE VALUE is
a h#ll of a lot higher than those #s suggest.
If someone executes a buyout, they could get the cash and the NOL, and then liquidate all assets slowly as to get the most $$$ for each piece.
No matter what, WM is in a great position and is more than solvent enough to continue operations.
Also, don't forget that the judge has and will continue to let WM transfer $$$ to WMI and other subs as they see fit and she wouldn't allow this if these subs were losing $$$. Think about it, most of the losses came from WaMu. It was too big. The subs are actually GOLDEN.
Thanks for the post kitleslie. Please share your thoughts more often!
Have a good night!
DIRECT LINK to the REAL WAMPQ Conversion VERBAGE………………………..
Do yourself a favor and read this entire message. It is not something that has been repeated.
You’re welcome. : ^ )
The following is from the Pricing Term Sheet included in THE PROSPECTUS showing the max #
of common shares WAMPQ can be worth after conversion upon fundamental change and…..…….…
You were right, my MATH was a little off. 115 common shares was wrong and misleading.
The REAL # is 114.8106 common shares………
Conversion upon fundamental change: If the reference price in
connection with a fundamental change is less than the applicable
conversion price, each share of Series R Preferred Stock may be
converted during the period beginning on the effective date of the
fundamental change and ending on the date that is 30 days after the
effective date of such fundamental change at an adjusted conversion
price equal to the greater of (1) the reference price and (2) $8.71,
which is 50% of the closing price of the Issuer’s common stock on the
date of the prospectus supplement, subject to adjustment. If the
reference price is less than $8.71, holders will receive a maximum of
114.8106 shares of common stock per share of Series R Preferred Stock,
subject to adjustment, which may result in a holder receiving value
that is less than the liquidation preference of the Series R Preferred
Stock.
Now I can provide the link, but I am going to wait and give you
another chance to find it yourself.
You were looking at the registration only and failed to look at the
actual prospectus.
What you looked at was Registration of a Class of Securities •
Form 8-A, which is the same link that everybody has in the ibox. I
will say this again, DO SOME REAL RESEARCH!!!!!!!
I am nice enough to paste the entire file into this message even
though I am under no obligation to do so. Also, anybody who says
I am
“misleading investors” is a LIAR!!!!! (you know who you are
and you should worry about yourself)
Am I still misleading people or is the SEC Filing wrong.
Hmmmm, neither!
Filed as of 12/12/07 so how you can’t find it is beyond me………………………….
Pricing Term Sheet
Washington Mutual, Inc.
Thanks for playin’! You also might want to do some more digging
regarding the WAMPQ divis………
Those of you who stuck in ‘til the end of this message get a reward in
the form of “THE” link and what I consider to be very useful
strategies when researching anything.
Learn where to go to get accurate (if there is such a thing)
information from government links. Learn all about searches. Learn
how to search, what kind of search to use, what HOT word(s) to use in
the right kind of search, learn about social and political current
events and the TRUE meaning of words surrounding such events, learn
about the LAW , LEARN ACRONYMS,
and DO YOUR BEST (don’t slack, don’t take anybody’s word for
anything and don’t tell me you don’t have time, MAKE TIME!) to
USE ALL AVAILABLE RESOURCES to make a SUPPORTED DECISION that is
most likey to leave you in the BEST POSITION possible!
This information came from the FreeWritingProspectus (FWP) and
clearly spells out the terms of the securities that were registered
in the Registration of a Class of Securities • Form 8-A
that many reference ,
but is not the TRUE prospectus! Some people will probably not even
read my message and accuse me of only pasting the information
instead of providing the link, so if as many of you as possible
can inform them if this happens that a link WAS included, it
would be very much appreciated.
Click on the link and do a search for 114.8106
Here IT is:
http://www.secinfo.com/dr643.uCc.htm
Here is another “kind” of link that SEC sites have. This one
does a good job of explaining why the Series R was issued and that
WASHINGTON MUTUAL was ready for negative repercussions regarding bad
mortgages, they raised CAPITAL through the issuance of preferred
stock, they started writing down bad loans way back then(which is why
they were showing a LOSS, and now a lot of banks are following suit
because it has to be done), and they did so without the help of
the government and 110% with the help of investors and those who
believed and TRUSTED them and still do.
http://www.secinfo.com/dr643.ucd.htm
And here is a great link for WASHINGTON MUTUAL that is actually a
PROSPECTUS SUPPLEMENT:
http://www.secinfo.com/dsvrp.uXYq.htm#_108
Here’s the deal. There are thousands of SEC filings for WASHINGTON
MUTUAL, and if you want to learn more(which I hope that you do) ,
then do yourself a favor and play around with SEC searches and I
think you’d be amazed at what you can find. Not just about WM, but
about a LOT of stuff. You don’t have to do research about
WASHINGTON MUTUAL if you don’t want to , and here’s why. Look at
the events leading up to the “collapse”, look at the financial
statement that was filed today for what it TRULY IS, and if you looked
at it in conjunction with other statements that you in essence
already have access to. WM is fine whether anybody buys them or
not. I personally do not want to see anybody execute a BUYOUT, but
sometimes it is just better to go along with what is going to happen
anyway.
Look who’s buyin’, look at how much they are payin’, look when they
are buyin’, look how much they’re buyin’, look at the clear illegal
activity that led up to the “collapse”, look at how much WM is
actually worth if they were to liquidate (which they are NOT GOING
TO DO) as this TRUE VALUE is not included in the financial document
that is floating around, look at how much REVENUE they have
coming in as we speak, blahblahblahblahblahblahblahblahblah..... And
it leads to only 1 REALISTIC possibility………………
We’re ALL good!!
****It is very important to note that NONE of the conditions have been met that constitute “fundamental change”….yet.
It is also worth noting that these stocks continued to trade. This is very important whether you realize it or not.
Ps – WAMPQ is going to be FINE , but WAMKQ is still the
BEST of the WM PREFERREDS! LOL
DIRECT LINK to the REAL WAMPQ Conversion VERBAGE………………………..
Do yourself a favor and read this entire message. It is not something that has been repeated.
You’re welcome. : ^ )
The following is from the Pricing Term Sheet included in THE PROSPECTUS showing the max #
of common shares WAMPQ can be worth after conversion upon fundamental change and…..…….…
You were right, my MATH was a little off. 115 common shares was wrong and misleading.
The REAL # is 114.8106 common shares………
Conversion upon fundamental change: If the reference price in
connection with a fundamental change is less than the applicable
conversion price, each share of Series R Preferred Stock may be
converted during the period beginning on the effective date of the
fundamental change and ending on the date that is 30 days after the
effective date of such fundamental change at an adjusted conversion
price equal to the greater of (1) the reference price and (2) $8.71,
which is 50% of the closing price of the Issuer’s common stock on the
date of the prospectus supplement, subject to adjustment. If the
reference price is less than $8.71, holders will receive a maximum of
114.8106 shares of common stock per share of Series R Preferred Stock,
subject to adjustment, which may result in a holder receiving value
that is less than the liquidation preference of the Series R Preferred
Stock.
Now I can provide the link, but I am going to wait and give you
another chance to find it yourself.
You were looking at the registration only and failed to look at the
actual prospectus.
What you looked at was Registration of a Class of Securities •
Form 8-A, which is the same link that everybody has in the ibox. I
will say this again, DO SOME REAL RESEARCH!!!!!!!
I am nice enough to paste the entire file into this message even
though I am under no obligation to do so. Also, anybody who says
I am
“misleading investors” is a LIAR!!!!! (you know who you are
and you should worry about yourself)
Am I still misleading people or is the SEC Filing wrong.
Hmmmm, neither!
Filed as of 12/12/07 so how you can’t find it is beyond me………………………….
Pricing Term Sheet
Washington Mutual, Inc.
Thanks for playin’! You also might want to do some more digging
regarding the WAMPQ divis………
Those of you who stuck in ‘til the end of this message get a reward in
the form of “THE” link and what I consider to be very useful
strategies when researching anything.
Learn where to go to get accurate (if there is such a thing)
information from government links. Learn all about searches. Learn
how to search, what kind of search to use, what HOT word(s) to use in
the right kind of search, learn about social and political current
events and the TRUE meaning of words surrounding such events, learn
about the LAW , LEARN ACRONYMS,
and DO YOUR BEST (don’t slack, don’t take anybody’s word for
anything and don’t tell me you don’t have time, MAKE TIME!) to
USE ALL AVAILABLE RESOURCES to make a SUPPORTED DECISION that is
most likey to leave you in the BEST POSITION possible!
This information came from the FreeWritingProspectus (FWP) and
clearly spells out the terms of the securities that were registered
in the Registration of a Class of Securities • Form 8-A
that many reference ,
but is not the TRUE prospectus! Some people will probably not even
read my message and accuse me of only pasting the information
instead of providing the link, so if as many of you as possible
can inform them if this happens that a link WAS included, it
would be very much appreciated.
Click on the link and do a search for 114.8106
Here IT is:
http://www.secinfo.com/dr643.uCc.htm
Here is another “kind” of link that SEC sites have. This one
does a good job of explaining why the Series R was issued and that
WASHINGTON MUTUAL was ready for negative repercussions regarding bad
mortgages, they raised CAPITAL through the issuance of preferred
stock, they started writing down bad loans way back then(which is why
they were showing a LOSS, and now a lot of banks are following suit
because it has to be done), and they did so without the help of
the government and 110% with the help of investors and those who
believed and TRUSTED them and still do.
http://www.secinfo.com/dr643.ucd.htm
And here is a great link for WASHINGTON MUTUAL that is actually a
PROSPECTUS SUPPLEMENT:
http://www.secinfo.com/dsvrp.uXYq.htm#_108
Here’s the deal. There are thousands of SEC filings for WASHINGTON
MUTUAL, and if you want to learn more(which I hope that you do) ,
then do yourself a favor and play around with SEC searches and I
think you’d be amazed at what you can find. Not just about WM, but
about a LOT of stuff. You don’t have to do research about
WASHINGTON MUTUAL if you don’t want to , and here’s why. Look at
the events leading up to the “collapse”, look at the financial
statement that was filed today for what it TRULY IS, and if you looked
at it in conjunction with other statements that you in essence
already have access to. WM is fine whether anybody buys them or
not. I personally do not want to see anybody execute a BUYOUT, but
sometimes it is just better to go along with what is going to happen
anyway.
Look who’s buyin’, look at how much they are payin’, look when they
are buyin’, look how much they’re buyin’, look at the clear illegal
activity that led up to the “collapse”, look at how much WM is
actually worth if they were to liquidate (which they are NOT GOING
TO DO) as this TRUE VALUE is not included in the financial document
that is floating around, look at how much REVENUE they have
coming in as we speak, blahblahblahblahblahblahblahblahblah..... And
it leads to only 1 REALISTIC possibility………………
We’re ALL good!!
****It is very important to note that NONE of the conditions have been met that constitute “fundamental change”….yet.
It is also worth noting that these stocks continued to trade. This is very important whether you realize it or not.
Ps – WAMPQ is going to be FINE , but WAMKQ is still the
BEST of the WM PREFERREDS! LOL
OK. CALL me out, but you better SUPPORT your CALL.
Do your own research, find your own links, do your own math,
and if this has been gone through many times then you would be able to provide proof that I am wrong.
You have not done so, you cannot do so, you will not do so,
and the FACT remains that if and when converted into common,
those who bought WAMPQ at current prices would have been
better off simply buying common stock in the first place.
I respect your attempt to have a valid discussion/argument,
however,
I WIN!
Thanks for playin'!
Exactly.
Very good point.
The FACT remains that
"The R series preferred is convertible at the holders option or at the option of the board of directors. The converstion rate is at a maximum of 115 shares of common."
For this very reason, if I want more commons, I will buy more commons. I will not by WAMPQ just so it can be converted into something that I can buy at a lower pps.
You make great points and I am happy to see someone else talk about the ???? value of wampq.
It is still inevitable that WAMPQ gets converted to common. It is only a matter of time............................
So am I really misleading possible investors as some suggest?
I submit that I am not.
If converted, WAMPQ =less than or equal to 115 common shares
I am still waiting for anybody to tell me that I am
"misleading" possible investors ........................
The terms are the terms, and it is likely that WAMPQ will get converted. It is the logical move to make for WM.
I am a ROOKIE, but I would recommend selling atleast 20,000
shares of common and picking up some WAMKQ.
If you can sell wamuq for .04 that would give you $800 which would give you atleast 4,000 shares of WAMKQ priced at .20
Hopefully the price of WAMKQ will go down again tomorrow which makes it an even better deal. It is up to you, I would recommend WAMKQ for many reasons, 1 of which is that it is NOT CONVERTIBLE like WAMPQ is. It is preferred, it is very undervalued, has great terms, and has tradeability.
You have access to a lot of posts that can lead you in the right direction, but make sure you look at the verbage in each prospectus, as that is the KEY.
Good Luck!!!!!