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C won't be filing BK. They are in a great position now that they eliminated a ridiculous amount of jobs, thereby reducing their Ls which in turn will increase the COH thus strengthening their BS, SOCF, and ultimately reducing their D/E.
Also, hopefully you've learned from prior lessons that the correct thing to do with C is locate and lock-in to low prices that exist on their preferreds.
By the way, you are not going to get $1, you will get much more than that in value. Put your TRUST back in
WASHINGTON MUTUAL!
Class dismissed.
Best of Luck!
Hey diamondguru-one,
RIGHT ON BROTHER !
You're quote sums it up perfectly!!
"WTF is the FDIC,JPM going to say....SORRY we didnt KNOW you were OK,had the money you needed there.....THE CHIT IS ABOUT TO HIT THE FAN....JMO....and IMO if a buy was to happen with JPM it better happen before the filing on DEC 2nd......get your DEPENDS ready....i think she's ready to blow...."
I agree. Either they make a REAL DEAL happen soon and stop their foolishness, or they WILL be perceived as the badguys that they truly are, and WASHINGTON MUTUAL will emerge victorious
imo
Please read ! Summary of recent events written by:
It doesn’t matter who, what matters is what you think!!!
I just wanted to let you know that I think it would be a GREAT idea to load up on Washington Mutual Preferred Stock (WAMKQ, WAMPQ (might go back down to $4 but you should just buy it now, and WAHU) AND Washington Mutual common stock (wait as long as you can, but not long enough as to miss the train)
Yes Washington Mutual is in Ch 11 right now, however, the whole reason they are there is because the FDIC stole their WAMU branches and called it a "seizure" and said they didn't have enough money after $16 billion in deposits magically walked out in 2-3 days) that led to WM's "collapse". The latest report from the the OTS precisely stated that Washington Mutual "was well capitalized". You have to take a step back and look at the fact that Washington Mutual was the oldest, the biggest, and the most trusted S & L, and they did nothing that justifies people losing that trust. The JPM - FDIC thing is very true and very real, and it has been made clear by the "absolute silence" on the topic of Washington Mutual by the mainstream media , that they have been told to keep their mouths SHUT, and that is exactly what they are doing. The stories will start flooding out soon enough, but not before the deal is done. I can support my ideas until I am blue in the face, but a recent indicator to me is Obama's wise decision to not put someone from the FDIC on his team, even though it was rumored at one time that he would appoint Bair. He is too smart for that. (Also; SHORTERS OF FINANCIALS BEWARE! Bashers of financials better start looking for another industry to destroy because you’re days are numbered. Consider yourselves WARNED !)
Anyways, I wanted to provide you with some links that I feel contain enough data and support, especially the prospectus links, to allow one to make their own decisions. Don't be worried abouth the fact that these are all trading on the Pinks right now, I know the danger of that, and I know it almost always turns out bad, however, I have the fullest of confidence that either JPM will " finish the job" and buyout Washington Mutual , which is the holdings comopany that is still the parent company of several subsidiaries that are provided in a link below.
I personally "traded" as many shares of the Washington Mutual common stock WAMUQ as I could, when it was between .055 and .085 but did so by always making sure I had the shares I wanted locked up before the end of the day ……..just in case something happens quick.
I have since re-invested much of my profits into PREFERRED SHARES ( these are the key to investing). I always get a huge kick when someone like Warren Buffet says he is going to invest like $10 billion into Goldman Sachs, and then wonder why the pps of the common stock only surged for 1-2 days. The answer is because the MMs manipulate the prices of all stocks at all times and WARREN BUFFET DOES NOT BUY COMMON STOCK. HE BUYS PREFERRED STOCK for obvious reasons. I took my profits and dumped them into GM preferred shares and Senior Notes, that actually have a liquidation value(unlike commons), pay divis, were/are trading at same pps as the commons along with C preferreds that are a super great buy right now.
However, the ability to "flip" WAMUQ is over as when I did that, it was early on this ch 11 proceedings while people were excited and over-reacting . Whe are now entering the inevitable continuous drop towards .01 as it happens eventually to all BK stocks. There is even more than good "news" coming out if you know where to look for it, but the people that bought the commons in the last few weeks thinking they were getting a good deal are starting to get scared because the pps is currently at .03 . I took all of my money less the profits I made and personally loaded up on WAMKQ at a very low pps and have 280 shares of WAMPQ. I am waiting and watching, whith a smile on my face as the pps of the common stock continues in its, what I like to call a "beautiful slope headed directly to the intersection of 0 and 0 " at a beautiful pace. It will continue to go down as the MMs are "shaking the tree to see how many monkeys will fall out". Although the charts of these stocks look identical to all BK stocks, the situation surrounding it is far from average. This situation is price manipulation at its finest, with the sole intent to instill fear in the commstock holders to get them to sell, and the tease of increases in the preferred stock that get people to dump shares for a little $$. It is my firm belief that those who still have TRUST in Washington Mutual are presented with a once in a lifetime opportunity for a once in a lifetime opportunity. They will be back on the big board, it might take a long time if no buyout occurs as the average Delaware BK takes 18 months, if a buyout occurs it will happen before Christmas, but I think it is much more likely that trading will be halted
It is clear to me after extensive research, coupled with the fact that
WASHINGTON MUTUAL DIDN’T DO ANYTHING WRONG. Huh, turns out they were fine and now they’re probably the STRONGEST !!! When all is said and done, I honestly wouldn’t be surprised if after all is said and done, WASHINGTON MUTUAL ends up absorbing jpm in accompanied by REALTIME LEVEL 2 for those who were involved in the wrong-doing and will be spending a LOT of time
Where the footlongs are FREE everyday !
Try to see this for what it really is. Now payouts for common stocks and/or preferreds could come in the form of warrants, cash for preferreds, or a combination of both, but the bottom line is if YOU'RE IN , YOU WIN and if you SOLD YOUR OUT IN THE COLD. I firmly believe the BK judge will not approve any plan that does not include compensation to the shareholders , be them common or preferred. I also firmly believe that if ch 11 continues, then this will take a long time to playout. If jpm wants to come in and squash negative PR that will be coming out by all media outlets soon if they do not finish the deal that is currently being worked on, if JPM doesn't want a holdings company, if jpm doesn't want the actual $4.4 billion that is on deposit in one of their recently stolen WAMU branches that belongs to WASHINGTON MUTUAL, if jpm doesn't want to lose the same $4.4 billion in the form of a deposit on their books (which would kill them) if jpm doesn't want the $20 billion NOL that belongs to WAshington Mutual, and jpm doesn't want to help their tanking stock by turning themselves into an instant hero buy simply finishing the deal they tried to lowball Washington Mutual on several months ago and putting out a bullshit statement to the effect of " We wanted to wait until we had an operational strategy in place that would allow us to take over all of the operations of Washington Mutual in such a way that would be as seamless as possible for Washington Mutual Customers. blah blah blah" , but I don’t think a buyout is going to happen. Washington Mutual is too strong and too well respected to just give up. They are going to stay in bankruptcy as long as it takes to get back down to the business of doing business and they respect those that take risks. One could argue that they took risks too, and they did, but if they ever thought it would be a good idea to raise some extra $$$, they always did it the right way , which is buy offering preferreds that are worth buying and getting it done the old fashioned way. They are not going to give away all of their assets for the exact price that they are worth today, because that would be stupid. Plus, they really did have their banks ripped away for NO GOOD REASON at all. They are in a perfect position to come back as the powerhouse on the market because they are smart. Washington Mutual has always been a name you can TRUST, and that is something that will NEVER change. The headline will be something like
ATTENTION WASHINGTON MUTUAL SHAREHOLDERS: SINCE YOU BELIEVED IN US, WE BELIEVE IN YOU
And they will continue to use something to that affect about
IF YOU BELIEVE IN US, WE’LL BELIEVE IN YOU
I predict that JPM is going to be made an example of due to their VIOLATION of the law, history of deception, lies, and complete lack of respect for REAL PEOPLE with REAL PROBLEMS.
I am putting in a bid in for WAMUQ (common stock) at .0145 , which I hope it will get down to. If it doesn't, then its someone's way of telling me to stop being so greedy and/or stupid. If it gets to .01, I will buy more, , and if it gets to .005 I will buy more. If the price continues to go down, I will continue to buy more as I will either be buying them from someone who bought much higher and got scared, or a MM that either doesn't know the value of what he's slinging, or needs to dump his "final" lots to get his $$ for his next "inventory". Either way, those who have the guts and/or the TRUST in Washington Mutual to BUY and HOLD, will get greatly rewarded in my humble opinion. They will continue to operate, whether it is under new ownership or upon emergence of chapter 11, and if shareholders were not rewarded, there is not a chance in hell that they would ever get someone to invest in them again.
I feel that this situation warrants careful consideration so that you can make your own opinion as to what you think is really going on. I personally believe it is something big!
Sincerely,
It doesn't matter who, what matters is what you think!!!!
TAKE ALL OF THE VARIABLES, KNOWN AND UNKOWN, PUT THEM INTO YOUR EQUATION, AND PLEASE LET ME KNOW WHAT YOU COME UP WITH!
WHAT DID THE OTS HAVE TO SAY ABOUT WASHINGTON MUTUAL’S FINANCIAL POSITION BEFORE THEIR “COLLAPSE” ??? SURE LOOKS LIKE SOMEBODY GOT A DEAL THAT WAS TOO GOOD TO BE TRUE…………
http://files.ots.treas.gov/730021.pdf
RECENTLY TRADED OPTIONS??????
http://moneycentral.msn.com/investor/options/default.asp?Symbol=WAMUQ&Month=4&Year=2009
http://moneycentral.msn.com/investor/options/default.asp?Symbol=WAMUQ
Short Squeeeeze : http://www.shortsqueeze.com/?symbol=wamuq
And the number of shorting days left is only getting shorter and will shortly be coming to a close. Hahahahaha!
Who's been buying ? : http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=wamuq&SortBy=volume&Month=10-1-2008
What funds are buying, selling, and holding: http://www.mffais.com/wm.html
How many assets/subsidiaries does Washington Mutual have? See list below and click the link:
Most Recent 8K Filing:
Chapter 11 Filing said they had $32Billion in Assets and I I would say that the true value is even higher than that.
WASHINGTON MUTUAL, INC. DIRECT AND INDIRECT SUBSIDIARIES
110 East 42nd Operating Company, Inc.
620-622 Pellhamdale Avenue Owners Corporation
Accord Realty Management Corporation
ACD2
ACD3
ACD4
Ahmanson Developments, Inc.
Ahmanson GGC LLC
Ahmanson Insurance, Inc.
Ahmanson Land Company
Ahmanson Marketing, Inc.
Ahmanson Obligation Company
Ahmanson Residential 2
Ahmanson Residential Development
Bryant Financial Corporation
California Reconveyance Company
CCB Capital Trust IV
CCB Capital Trust IX
CCB Capital Trust V
CCB Capital Trust VI
CCB Capital Trust VII
CCB Capital Trust VIII
Clayton Blackbear, Inc.
Commercial Loan Partners L.P.
CRP Properties, Inc.
Dime Capital Partners, Inc.
Dime Commercial Corp.
Dime CRE, Inc.
Dime Mortgage of New Jersey, Inc.
ECP Properties, Inc.
The E-F Battery Accord Corporation
F.C. LTD.
FA California Aircraft Holding Corporation
FA Out-of-State Holdings, Inc.
Flower Street Corporation
Great Western FS Corporation
Great Western Service Corporation Two
H.F. Ahmanson & Company
H.S. Loan Corporation
Harmony Agency, Inc.
HCP Properties Holdings, Inc.
HCP Properties, Inc.
HFC Capital Trust I
HHP Investment, LLC
HMP Properties, Inc.
Home Crest Insurance Services, Inc.
HS Loan Partners LLC
Irvine Corporate Center, Inc.
Ladue Service Corporation
Long Beach Securities Corp.
Marion Insurance Company, Inc.
Marion Street, Inc.
Mid Country Inc.
Murphy Favre Housing Managers, Inc.
Murphy Favre Properties, Inc.
NAMCO Securities Corp.
Nickel Purchasing Company, Inc.
Norstar Mortgage Corp.
North Properties, Inc.
Pacific Centre Associates LLC
Pacoima Investment Fund LLC
PCA Asset Holdings LLC
Pike Street Holdings, Inc.
Plainview Inn, Inc.
Providian Bancorp Services
Providian Leasing Corporation
Providian Mauritius Investments LTD
Providian Services Corporation
Providian Services LLC
Providian Technology Services Private Limited
Reverse Exchange Corporation
Rivergrade Investment Corp.
Riverpoint Associates
Robena Feedstock LLC
Robena LLC
Savings of America, Inc.
Seafair Securities Holdings Corp.
Second and Union LLC
Seneca Funding (UK) Limited
Seneca Funding LLC
Seneca Funding Management LLC
Seneca Funding Trust
Seneca Holdings, Inc.
Seneca Newco LLC
Seneca Street, Inc.
Sivage Financial Services LLC
Snohomish Asset Holdings LLC
SoundBay Leasing LLC
Stockton Plaza, Incorporated
Strand Capital LLC
Sutter Bay Associates LLC
Sutter Bay Corporation
Thackeray Funding Corp.
Thackeray Funding Partners
Thackeray Holdings Corp.
University Street, Inc.
WaMu 1031 Exchange
WaMu Asset Acceptance Corp.
WaMu Capital Corp.
WaMu Insurance Services, Inc.
WaMu Investments, Inc.
Washington Mutual Asset Securities Corp.
Washington Mutual Bank
Washington Mutual Bank fsb
Washington Mutual Brokerage Holdings, Inc.
Washington Mutual Capital Trust 2001
Washington Mutual Community Development, Inc.
Washington Mutual Finance Group LLC
Washington Mutual Life Insurance Company of California, a Stock
Insurer
Washington Mutual Mortgage Securities Corp.
Washington Mutual Preferred Funding LLC
Washington Mutual Trade Service Limited
Washington Mutual-Seattle Art Museum Project Owners Association
Western Service Co.
WM Aircraft Holdings LLC
WM Asset Holdings Corp.
WM Citation Holdings, LLC
WM Enterprises & Holdings, Inc.
WM Funds Disbursements, Inc.
WM Marion Holdings LLC
WM Mortgage Reinsurance Company, Inc.
WM Specialty Mortgage LLC
WM Winslow Funding LLC
WMB St. Helens LLC
WMBFA Insurance Agency, Inc.
WMFS Insurance Services, Inc.
WMGW Delaware Holdings LLC
WMHFA Delaware Holdings LLC
WMI Investment Corp.
WMI Rainier LLC
WMICC Delaware Holdings LLC
WMRP Delaware Holdings LLC
Yellowstone Venture, Inc.
WAMUQ: WASHINGTON MUTUAL, INC. DIRECT AND INDIRECT SUBSIDIARIES ...
Chapter 11 Filing said they had $32Bil
in Assets and this looks good to me ...
WASHINGTON MUTUAL, INC. DIRECT AND INDIRECT SUBSIDIARIES
110 East 42nd Operating Company, Inc.
620-622 Pellhamdale Avenue Owners Corporation
Accord Realty Management Corporation
ACD2
ACD3
ACD4
Ahmanson Developments, Inc.
Ahmanson GGC LLC
Ahmanson Insurance, Inc.
Ahmanson Land Company
Ahmanson Marketing, Inc.
Ahmanson Obligation Company
Ahmanson Residential 2
Ahmanson Residential Development
Bryant Financial Corporation
California Reconveyance Company
CCB Capital Trust IV
CCB Capital Trust IX
CCB Capital Trust V
CCB Capital Trust VI
CCB Capital Trust VII
CCB Capital Trust VIII
Clayton Blackbear, Inc.
Commercial Loan Partners L.P.
CRP Properties, Inc.
Dime Capital Partners, Inc.
Dime Commercial Corp.
Dime CRE, Inc.
Dime Mortgage of New Jersey, Inc.
ECP Properties, Inc.
The E-F Battery Accord Corporation
F.C. LTD.
FA California Aircraft Holding Corporation
FA Out-of-State Holdings, Inc.
Flower Street Corporation
Great Western FS Corporation
Great Western Service Corporation Two
H.F. Ahmanson & Company
H.S. Loan Corporation
Harmony Agency, Inc.
HCP Properties Holdings, Inc.
HCP Properties, Inc.
HFC Capital Trust I
HHP Investment, LLC
HMP Properties, Inc.
Home Crest Insurance Services, Inc.
HS Loan Partners LLC
Irvine Corporate Center, Inc.
Ladue Service Corporation
Long Beach Securities Corp.
Marion Insurance Company, Inc.
Marion Street, Inc.
Mid Country Inc.
Murphy Favre Housing Managers, Inc.
Murphy Favre Properties, Inc.
NAMCO Securities Corp.
Nickel Purchasing Company, Inc.
Norstar Mortgage Corp.
North Properties, Inc.
Pacific Centre Associates LLC
Pacoima Investment Fund LLC
PCA Asset Holdings LLC
Pike Street Holdings, Inc.
Plainview Inn, Inc.
Providian Bancorp Services
Providian Leasing Corporation
Providian Mauritius Investments LTD
Providian Services Corporation
Providian Services LLC
Providian Technology Services Private Limited
Reverse Exchange Corporation
Rivergrade Investment Corp.
Riverpoint Associates
Robena Feedstock LLC
Robena LLC
Savings of America, Inc.
Seafair Securities Holdings Corp.
Second and Union LLC
Seneca Funding (UK) Limited
Seneca Funding LLC
Seneca Funding Management LLC
Seneca Funding Trust
Seneca Holdings, Inc.
Seneca Newco LLC
Seneca Street, Inc.
Sivage Financial Services LLC
Snohomish Asset Holdings LLC
SoundBay Leasing LLC
Stockton Plaza, Incorporated
Strand Capital LLC
Sutter Bay Associates LLC
Sutter Bay Corporation
Thackeray Funding Corp.
Thackeray Funding Partners
Thackeray Holdings Corp.
University Street, Inc.
WaMu 1031 Exchange
WaMu Asset Acceptance Corp.
WaMu Capital Corp.
WaMu Insurance Services, Inc.
WaMu Investments, Inc.
Washington Mutual Asset Securities Corp.
Washington Mutual Bank
Washington Mutual Bank fsb
Washington Mutual Brokerage Holdings, Inc.
Washington Mutual Capital Trust 2001
Washington Mutual Community Development, Inc.
Washington Mutual Finance Group LLC
Washington Mutual Life Insurance Company of California, a Stock
Insurer
Washington Mutual Mortgage Securities Corp.
Washington Mutual Preferred Funding LLC
Washington Mutual Trade Service Limited
Washington Mutual-Seattle Art Museum Project Owners Association
Western Service Co.
WM Aircraft Holdings LLC
WM Asset Holdings Corp.
WM Citation Holdings, LLC
WM Enterprises & Holdings, Inc.
WM Funds Disbursements, Inc.
WM Marion Holdings LLC
WM Mortgage Reinsurance Company, Inc.
WM Specialty Mortgage LLC
WM Winslow Funding LLC
WMB St. Helens LLC
WMBFA Insurance Agency, Inc.
WMFS Insurance Services, Inc.
WMGW Delaware Holdings LLC
WMHFA Delaware Holdings LLC
WMI Investment Corp.
WMI Rainier LLC
WMICC Delaware Holdings LLC
WMRP Delaware Holdings LLC
Yellowstone Venture, Inc.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5989352
Keep up to date with the Bankruptcy Hearings Daily: http://www.kccllc.net/wamu
WAMPQ SEC and Prospectus Info:
Series R, Trading as WAMPQ
Old symbol: WM.PRR, Issued 12-17-2007.
Outstanding: 3,000,000. Liquidation Value: $1,000
Interest Paid: 7.75%
On December 17, 2007, WMI issued 3,000,000 preferred convertible shares, at a price of $1,000, to raise approx $2.9B.
These were paying 7.75% interest.
Prospectus Summary:
Hint: Sometimes the circumstances surrounding the issuance of a stock are just as important as the prospectus that defines the issuance.
http://www.secinfo.com/dr643.uCc.htm
Full Prospectus :
http://www.sec.gov/Archives/edgar/data/933136/000095013407025552/v36537aexv4w1.htm
WAMKQ SEC and Prospectus Info: Here's the Prospectus and other info:
Series K, Trading as WAMKQ
Old symbol: WM.PRK, Issued 9-11-06
Outstanding: 20,000,000. Liquidation Value $25.
Interest Paid: Greater of 3 month LIBOR plus .70% or 4%.
Depository shares representing 1/40,000th of floating rate series K non-cumulative preferred stock, no par value.
Series K Perpetual Non-Cumulative Floating Rate Preferred Stock was originally issued at $1,000,000/share. 500 were issued.
SO, 500 x 40,000 = Number Outstanding: 20,000,000
Prospectus Link:
http://investors.wamu.com/interactive/lookandfeel/102028/V23402_WAMU_424b5_Clean_.pdf
http://www.sec.gov/Archives/edgar/data/933136/000095013407025552/v36537aexv4w1.htm
WAHQE (formerly WAHUQ) = GOLD = Preferred Income Equity Redeemable Securities (PIERS)
Old Symbol: WAHCU (OTC BB). Issued 6-27-2001.
Outstanding: 8,713,925. Liquidation Value: $50.
Interest Paid: 5.375%.
PIERS units consisting of 5.375% trust preferred securities and warrants, due 07/01/41.
These were paying a quarterly dividend of .67/share. Last payment was on 7-31-08.
Prospectus: http://www.secinfo.com/dRqWm.4fT99.htm
Symbol Changes:
https://www.otcbb.com/asp/dailylist_detail.asp?d=11/20/2008&mkt_ctg=OTCBB
Charts: Technical Analysis: http://www.stockta.com/cgi-bin/analysis.pl?symb=WAMUQ&num1=17&cobrand=&mode=stock
http://stockcharts.com/h-sc/ui?s=wamuq
Who's pissed and who's gonna be in trouble?
http://www.live-pr.com/en/washington-mutual-investors-have-initiated-r1048224409.htm
http://www.i-newswire.com/pr224984.html
http://www.bloomberg.com/apps/news?pid=20601103&sid=aIL9gsK5wG40&refer=us
What does this remind you of ? CALPINE
Hold on WAMU stockholders. Just when you think you’ve been screwed with your pants on…………………
http://calpineshareholders.blogspot.com/2007/12/calpine-shareholders-say-bunk-to-san.html?showComment=1198109880000#c3160375621610203069
http://www.bizjournals.com/sanjose/stories/2008/01/28/daily76.html
I am still weighing my OPTIONS
I was talking about my IHUB account.
I still have the free membership, hence the reference to "fake account". I get private messages sometimes and can't respond as my account does not allow me to do so.
hahahahaha
The other good part about it , aside from the low prices, is of course the reassurance that the whole purpose of ch 11 is to document exactly what they have and how much it is worth. Anyone that doesn't have the b#lls , patience, or trust to wait it out doesn't deserve to enjoy the benefits of such an incredible investment opportunity.
Truly once in a lifetime!!!!
[|| Peace||>
That is a good thing. There will be even cheaper shares available for us the longer this takes. Most people are weak and worried and there will be people selling off for a long time unless a buyout happens quick. I know that January is going to be "hit the ground runnin'" for Obama's team and wouldn't be surprised by a "suprise" buyout.
All I know is that I will continue to move money into my ETRADE account a couple hundred bucks at a time when I get hungry and I am already salivating at the possiblity of shares trading under .02.
If you bought 10,000 shares last year, and 10,000 shares a month ago, and 10,000 shares a week ago, and 10,000 shares today, you would have 40,000 shares of the same stock.
Wait until the commons are looowww to buy for the long haul!
Standard practice....yes. Standard practice performed in your everyday situation....no.
Thanks for the info.
PS- Once I set up my account for real, I will let you know what I think are some super killer preferreds that are not in BK and are tasty low!
Now it's reading it as valid. I got an order for more K's out instead. Price and benefit wise WAMKQ is a much better deal anyways, but I was thinking I should "round out the family" again before the holidays. I know WAHUQ is like $50 of gold, but at .12 for K and a $25 lv the math is a no brainer if you look at the pps.
It is pretty clear that the K stands for Killer Series preferred.
The WAMP stomps, The Killer is the Thriller, and where or where is WAHU ? WAHU , where are you? You're hiding because something is going on behind the scenes.
I think the symbol change is probably a good sign that you should stop buying it because they are obviously finding out who is holding it so they can document the payouts/provisions for those that are.
I totally agree. WAMU will not get the $4.4 billion deposit because the rightful owner is Washington Mutual.
JPM loses, WAMU loses, FDIC loses, and the FDIC is going to continue to lose BIGTIME as they are going to take a severe beating by the media once the media has the GREEN light to talk about it!
Good point! I'm done with that guy. He has access to the same information everybody has.
What do you think about WAHUQ ? I dumped it last week because I figured it wasn't going anywhere and was holding steady so I took that money and bought C preferreds. I just tried the new WAHEQ, and ETRADE doesn't recognize it as a valid symbol. Haven't done any dd, but I think something's up. What, it just so happens that something goofy happend to the first in line? I think it's another distraction as usual.
You're going to be fine prof !!!!!
You did the right thing by holding AND buying more. Not a chance in H#ll you will be left out in the cold. That's not how Washington Mutual rolls.
STOP WORRYING ABOUT IT ! Everything is out of your circle of influence , except for your ability to buy more the lower it goes. Put in an order right now for a huge lot at .02 and .015. If it gets that low you will be thanking yourself after this all plays out!
HAPPY HOLIDAYS!
gltyt
I wish they'd take it down to .06 and shake it between .03 and .06 like it's a common stock !
SOMETHING REALLY BIG OR REALLY WEIRD IS GOING ON WITH WAHUQ !
Somebody please do me a favor and try to put in a buy order for WAHUQ.
I just tried to set an order up for Monday morning
and I keep getting the message, "You have entered and invalid symbol"
I don't know if there is just something wrong with ETRADE, but I really hope that the deal is going down right now !
The Effect of GS on WAMUQ
You know that GS has been getting, and will continue to get the best of ALL worlds when this is said and done. They made a killing shorting this stock and its siblings, they are buying back in bigtime at a very low pps, and they are certain to buy options as soon as the Washington Mutual family gets back on the board and adds a ton of fresh, new, SOLID market value back to the street.
Those guys are a bunch of pr#cks. They bash C ,probably sold a SH*T TON short a long time ago, and are currently buying preferreds while they are waiting for the common stock . Once their short is covered they buy options on the commons, “change” C back to a buy. But what most people don’t know is that when they say “don’t buy C” then GS makes a killing off C
They know their SOCF is just fine and so is their SOCFP and will only drastically improve immediately because they shed their operating costs by a TON. Just the firings alone will increase the good parts of their BS and and decrease the bad. If people were smart they would know that firing 50,000 is a great thing when it comes to #s and that now is almost the time to buy if common stock interests you I feel bad for those people, but Wall Street doesn’t. GS probably sold themselves short at 270.50 on Halloween in ’07 and finally covered yesterday at 49 even .
You know what I love? I LOVE it when some super rich person like Warren Buffet announces that he’s going to dump billions into a company like GS , and then most people are stupid enough to ask why GS pps went down even after good news. Well stupids, it went down because the media failed to mention that he is only buying preferreds .
Look at the financials of the financials to find the winners, wait for a couple of "bad " days, and then buy the preferreds!
Good luck !
Hey prof , I’m ready to turn in my assignment again!
Listen tough guy, it doesn't bother me when someone says something negative about WAMPQ, it bothers me when someone makes posts that are completely useless.
I know that the dividends for WAMPQ aren’t going to get paid at all , but thanks for pointing that out out again. I find your advice very helpful.
1. The true value of WAMPQ is in its liquidation value/ conversion preferences. Hands down WAMPQ wins in this particular situation. If liquidated at face value = $1,000 share. If converted, you do the math, you do such good research that you should already know the value of WAMPQ and thus wouldn’t be having this argument that you continue to lose.
2. The true value of WAMKQ is the $25 liquidation value AND the dividends that aren’t being paid while they are in BK, but are accruing and are considered payable while they are in BK. You don’t have to believe me, however, WAMKQ holders will get their divis or an equivalent market value comprised of the newly issued stock ( I feel there will be new stock and warrants will be a big part of the game)
( all dividends payable upon emergence from CH 11) .2528 per share 4 times per year AND the liquidation value of $25 per share (but you might have to wait until 2011, depending on what happens).
3. WAHUQ doesn’t need anybody to argue on behalf of it because it is getting paid in full, and that should open your eyes to the value of the other 2.
4.
Now I only have .
Now I am starting to eat up the common shares again to finally hold them instead of flipping them. I am planning on buying atleast 50,000 more shares if WAMUQ once in gets down to .0015 and .02 If it doesn’t get down that low, then I won’t have as much fun. I am VERY much looking forward to watching this stock slowly and methodically head towards zero, because I know that super cheap shares are going to be available up until the end. MMs might give it one good day before they drop it low, but THE LOWER IT GOES, THE MORE I CAN BUY, and that is exactly what I am going to do as long as I have enough time for the price to get down there. If nothing else it is fun to put in those orders for huge lots!
I have already made enough money by flipping these 3 to protect my investment with preferred shares of other companies that are not in BK and took a beating this week.
You need to find out what the words “liquidation” and “default” mean and maybe you’ll find the true value in these preferreds AND If you think that having the security blanket of an exact liquidation value is less important than dividends, then you are a total lost cause. Your own words in message 2812 stated the following:
“For preffereds the only thing matter is the dividend (or WMI goes to liquadation), without dividend they worth nothing”
You need to learn some grammar, learn how to spell, and learn how to do real DD.
I personally love accounting, examining financial statements, and precise verbage, especially if such verbage can be found in a prospectus. Verbage found within a prospectus is more than precise when it comes to the terms of an issuance, however, due to widespread incompetence (hint, hint) terms of an issuance can have multiple interpretations, but just because people like you don’t understand, doesn’t take away from the fact that there is only 1 TRUE interpretation.
All 3 of the Washington Mutual preferreds are worth more without dividends than the common stock! You must not know what investing is if you don’t believe me. Yes, you can still make a LOT of money off of WAMUQ, but the fact remains that these preferreds are the real deal. Look at who issued them. If you don’t trust Washington Mutual enough to honor their terms, then you shouldn’t have bought their shares. Thanks for playin’!
Class dismissed.
Nobody cares!
I can tell anybody anything I want to, and those that don't listen are going to wish they had !
Hey moderators, get this lady off the board.
No constructive conversation and apparently is a Dow pumper???
It is so nice to see those words. Well put, makes sense, I agree. "They" should do all of those things and they should increase the short-term capital gains and decrease the long-term captial gains. Make the traders pay more taxes. They deserve to . They are a big part of the stock price problem. If you up the stcg tax and lessen the ltcg tax, investors would be rewarded for holding.
Bottom line = several changes needed
Thanks for the more than thoughtful post!
And so it unfolds.
I am loving every minute of this saga!
Good day to nibble and looks like the last day to nibble at such a discounted price. Maybe one quick downswing in the morning but this one is going to start its move tomorrow!
PPS is going up tomorrow. The MMs know they are holding gold, and the only reason the thing hasn't gone through the roof is because they needed to wait for GS to cover. If it would have been anybody else they would have squeezed 'em harder than sh*t, but they did not do that.
Hey prof, if you think WAMPQ is worthless without a dividend then you need to stop investing right now. A good preferred share does not need to have a high pps and doesn't need to be heavily traded to be worth a lot.
Also, WAMKQ pays out a ridiculously good dividend for its pps, and yes, the divis currently accruing are not only payable, but will be paid.
You really need to do some research on preferred stock, notes, and receipts , and do us all a favor and leave the Washington Mutual boards.
Class dismissed.
They are in the perfect position for either explosive growth or a buyout.
Also, if anyone feels that preferreds won't get paid, they should realize that they could sell 1 of their subsidiaries to pay of WAHUQ, and etc etc down the line. Preferreds are going to be treated properly regardless of how this plays out.
They are in a much stronger position that most right now as they are lean , mean, well capitalized and well-accounted for. And it is clear by their transition team that the deal is about to be done or they are going to come out swinging.
I truly think that if a buyout happens, it is more than a real possibility that GS is going to be the one that steals the show, saves Washington Mutual, and turns JPM into the bad guy. They have all the incentives and motivations I listed in a yahoo post and they also already have an "inside" position as far as the markets go. They win big if they make the first real offer.
Cheers!
Wow, a whole 200 %, way to go jean , that is quite a payday.
If you really have guts, you should repeatedly short WAHUQ, WAHUQ, and WAMKQ, because if you really were convinced that these are going to tank you would do so in a heartbeat.
It is more than a real possibility.
Learn how to find the true value of preferred shares.
Practice by picking out the top 2 Citigroup preferred shares as they are the next ones you should try to take advantage of as they will continue to go down. However, people like you apparently would rather buy 500 shares at $2 , sell at $7 when it runs just to make $2,500 as opposed to
doing good research and having the nerve to make smart purchases and the nerve to watch your market value disappear before your eyes, doing so with a big smile on yourself because you know you won. If the deciding factor of you purchasing more WAMPQ is a set price of $2, then you don't deserve to enjoy the benefits of the stock whose value you failed to appreciate.
Once the current shorts cover in the morning WAMKQ is going up hard and fast.
Washington Mutual Inc. Depositary Shs Repstg 1/40000 Perp Pfd Ser K $ 0.15
WAMKQ -0.01
Short Interest (Shares Short) 54,700
Days To Cover (Short Interest Ratio) 0.2
Short Percent of Float %
Short Interest - Prior 68,200
Short % Increase / Decrease -19.79 %
Short Squeeze Ranking™
http://www.shortsqueeze.com/?symbol=wamkq
Who do you think is going to be buying out Citigroup?
Don't worry about it. That was a good purchase. By not buying, you were running the risk of not holding in the event of a sudden event or announcement. If you wouldn't have bought in and a buyout occured, you would have been kicking yourself. If you wouldn't have bought in and the pps took off and never came back, you'd be kicking yourself.
I have no problem looking at my portfolio and seeing hundred dollar losses in the day's gain/loss column, and I am totally fine with that because I know the true value of this stock.
You should be patting yourself on the back for taking advantage of a good opportunity based on limited available information. Plus, just because you got in at .35 doesnt' mean that you can't get more now, unless you don't have any money. If you're out of $$, just wait a while and you'll be able to take your profits from this one and invest them into another opportunity that is always right around the corner.
Have a great day and best of luck!
JPM does own WMB, but WMB is not "gone", and neither is Washington Mutual Holdings Co's money that was, and still is, deposited there. I don't give out any free links or free information. Do your own due diligence, and if you insist on filling this board childish observations, then sell your Washington Mutual Stocks and buy bonds. I also would suggest taking some accounting classes so you have a chance in the future of accurately assessing a company's true value through a proper analysis of all relevant financial statements.
Class dismissed!
Best of luck to you!
I got in low at a pps of $2.25 on HGM and GMS, which are both preferreds of GM . I had an ask out there for this price that I set yesterday as I was watching them tank. The pps is irrevelevant, except in that the lower you get them at, the more shares you can buy. Apparently news travels quick regarding a guaranteed bailout of some kind, even though such a bailout is far from solidified. It is my belief however, that these 2 preferreds are a great buy. They are back up to around $3 per share right now, but keep your eye on them. They are likely to drop again, and I suggest that you should buy in. They are preferreds, enough said their, and the divis are good. Best of both worlds. I am waiting for XVF, which is a corporate backed preferred of Ford, to take more of a beating before I get in on that and this one pays a huge divi.
I am still working on identifying what I feel are the best Citi preferreds, but there are a ton of them out there and it will take time to analyze all of them.
Best of luck, but no matter what you buy, atleast make sure it is a preferred!!!
Washington Mutual Bank is not gone, and neither are the holding company's assets or subsidiaries.
Class dismissed!
Have a great day!
I have some sell orders out there, but I am just doing it for the fun of it. I am certain that nobody is going to pay what I am asking, but that is fine with me. I'll let the orders just sit there because I know the true value of KQ, PQ, and HUQ.
Wooooomotherf#ckinghoooooooooooo!
[|| Peace ||>
PPS for preferreds is irrelevant. The lower the better. Just find the ones that pay the biggest divis, that have a
$ liquidation value attached. No matter what happens to Ford and GM , their preferreds are in great shape. Keep your eye on GMS and HGM and try to find the bottom. Great divis and discounted prices. Even if GM folds and creditors and preferreds are only paid out at 50% upon liquidation ( which is not going to happen), they would already be a good buy. If they don't fold and liquidate, you already know what the benefits are.
Good luck, and as Warren Buffet says, " Be fearful when others are greedy, and be greedy when others are fearful."
Beacon isn't crashing. Beacon is in a great position because of their already existing, well-established business relationships, because of undervalued property in the marketplace, along with the inevitable that natural gas is going to play a bigger role in our country than it is right now. I hope people listen to T-Bone because he is right. Electrics and hybrids are the way to go for cars, but the only thing that is strong enough to move an 18-wheeler is either petroleum based gasoline, or natural gas, and since natural we have an abundance of natural gas in our county, which decreases our reliance upon foreign countries with regards to energy thereby increasing our security, I truly think this one is a win-win.
We'll see what happens, but imho this one is going to pop!
ps- Do yourself a favor and try to identify as many preferred shares as you can that are taking a severe beating right now, because on the street, preferreds ALWAYS win out over common stock!
They are going to be worth waiting for. You are in a great position if you are holding a good stack of shares!
Speaking of preferreds, after we make out like bandits on these, imho it is time to start eyeing up the best of the GM , Ford, and Citigroup preferred shares. They are dropping as we speak and pay great divis with $25 par value.
Citigroup common stock , C, is down 15 % already today , and the already discounted GM preferreds are down 10 % already. Something to seriously consider. Get in early enough, but not too early. Something to think about.
Good Luck!
I don't think it's gonna get lower than what I got in for, but if it gets close, I have stuff I can dump to get some quick $$ into some more WAMPQ. You should really keep loading up on WAMKQ too. Might as well, shares for under a quarter. That's what I'm talking about!