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It's beautiful!
Hey professor, what do you think its subsidiaries are doing everyday when you are doing whatever it is you do everyday?
They would make money. That is what they have done since their incorporation.
Class dismissed!
Go to bed professor.
I think the MMs might have a different plan with these preferreds. I think they know the true value and have no problems at all with keeping the shares to themselves so they have as many as possible when payday comes. Think about it, the only thing they have to do to keep the price low is sell back and forth with the guy standing next to them. Trust me, they know the value of all of these stocks, and it is to their benefit to keep the price as low as possible. I could be wrong, maybe they are getting ready to pump it up in a couple of days again, maybe it will completely tank, but I think they know they are holding gold, and have no problems keeping the price down to induce morons to sell. Of course this is jmho and cannot support these statements with "credible data", but this, and WAMKQs brother and sister are not your usual pinkies.
Keep a good eye on it for me, and I'll be back tonight.
Best of luck to everybody!
Who do you think will get the $4.4 bil and the NOL, Burger King?
Class dismissed.
Best of luck!
I politely respond to your following question with the exact same question.
Your question: What happened to that PR from last week that stated this would not happen?
My question: What did happen to that PR from last week that stated this would not happen?????
Thanks for your input prof, but you are incorrect on almost all counts with the exception ofthe 1 month buy/sell timeframe, but apparently you don't understand the benefits of a LOW pps for a possible sutior. That's ok, you don't have to get. It is what it is. Let me clear a few things up for you.
Washington Mutual Holdings is not going to liquidate. They will be bought out, or, they will continue to operate. Chapter 7 liquidation is out of the question.
JPM, or anybody else, can buy as MANY SHARES as they want, they just have to notify/get permission from the right people.
It should not scare you that nobody is talking about WMI. The silence literally speaks volumes. If you are too nieve to see that, then I suggest that you sell right now and go invest in bonds!!
Best of luck to you sir!
Fannie has closed under the $1 per share price for 30 days in a row. That is why NYSE told them that.
I feel it is inevitable that Fannie does a reverse split, and in my opinion, would be the smartest thing they could do.
If they do a reverse split, they should do a huge one, such as a 100 to 1 split. This would put the new share price around the $40 or $50 mark, which would make it much less volatile and less subject to flippers and MMs controlling the price.
The bottom line is that they have to do something, and they have to do it quickly. I don't feel the government will let Fannie get delisted. "They" need them whether you admit it or not.
I feel that a reverse split is the only way to get this stock over the $1 mark. If this does not happen, then it will be a signal to me that they are going to let it drop to the OTC board, thereby relieving many of the reporting requirements. I don't foresee this stock getting delisted, but if it does, WATCH OUT !!!
imho
If it goes to zero I'm buying an infinite amount of shares.
: ^ )
What are you basing your statement on?
It is a classic shakedown. WAHUQ isn't moving because it is a depositary share that is very secure and tightly held. It simply isn't available for trade. Anyone who is dumping WAMKQ at this price will be kicking themselves in the nuts repeatedly over the next month. Hold strong! Don't be stupid!!!!
BCND is going to thrive over the next decade. They are really going to show this battered market who's boss! imo
Here is the income estimator from my Etrade Portfolio Account. I only have 2145 shares but with a shot a liquidation value of $25 or the continuation of trading, even with the possibility of these divis or any other renegotiated divis is just fine with me.
Symbol Description Distribution Type Quantity Payable Date Rate Status Estimated Income
WAMKQ WASHINGTON ... Dividend 2145 12/17/2008 0.253 Estimated $542.26
Details
Description: WASHINGTON MUT INC PFD 1/40000 K
Ex Dividend Date: ---- Payable Date: 12/17/2008 Record Date: ----
WAMKQ WASHINGTON ... Dividend 2145 03/17/2009 0.253 Estimated $542.26
Details
Description: WASHINGTON MUT INC PFD 1/40000 K
Ex Dividend Date: ---- Payable Date: 03/17/2009 Record Date: ----
WAMKQ WASHINGTON ... Dividend 2145 06/16/2009 0.253 Estimated $542.26
Details
Description: WASHINGTON MUT INC PFD 1/40000 K
Ex Dividend Date: ---- Payable Date: 06/16/2009 Record Date: ----
WAMKQ WASHINGTON ... Dividend 2145 09/15/2009 0.253 Estimated $542.26
Cheers!
B
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That is exactly right buddy. WAMKQ went up way too fast, way too quick.
It opened at .11 on November 10th and hit a high of .74 on the 12th. I knew it would come back down, just didn't think quite this low, but as you said, there were tons of shorts and the MMs are actually taking it easy on them if you think about it.
I am a proud holder of WAMKQ and have no doubts that these bad boys are going to get paid in full!!!
If I could buy more I would!!!
BOL
If it does go under a penny then expect an announcement of a buyout shortly thereafter imo
I got an alert sent to my email today saying WAMUQ reached .08
WTF ??
I'm more great in 08 than I was in 07, but I'm planning on feeling fine in 09!
Here's the deal. The lower the pps gets, the better. Even if big dogs are dumping off huge lots to take extra losses for the year, other big dogs are buying them and getting a better deal. If one or more of the big dogs is buying on behalf of a possible suitor things couldn't get sweeter, and here's why.
If company A has plans to acquire the holdings company (no matter what their motivations are) and can currently purchase shares at cents on the dollar, the result is them owning a ridiculous amount of shares that they not only got for nothing, but they are all shares that do not have to pay anything out to anybody for owning if/when they execute a buyout. If Company A owns, or plans to own 1 billion shares prior to a hypothetical acquisition(and if such plans exist they are unbeknownst to you, they will remain as such, and you certainly won't see or hear about them until the deal is done) that is 1 billion less shares that they would have to include in a payout, because they wouldn't really pay themselves a per share price for shares they own (accounting wise they actually would because they would buy the company and the price of the stocks they just bought would actually go up), however, they would actually have to spend "REAL MONEY",also referred to as "CASH", to purchase Washington Mutual Holdings, and spend enough "REAL MONEY" to represent an offer that is high enough to either make this "thing" go away forever, or, turn it into the next Great American feelgood story about how Company A, which I hope is JP Morgan, "waited to acquire the holdings company until they had the operational readiness to provide provide excellent customer service and to make the transition of a complete takeover as seamless as possible..." or some sh*t like that. It will be great when we finally start hearing mainstream stories about Washington Mutual, and I strongly believe the only way that will happen is if this ends good for everybody on this board. I am convinced that 1 of 2 things will happen. 1. Someone will buy them out on a per share basis (and it kind of matters who and why) or 2. They will emerge from Ch 11 and the stocks will be back on the big board, and they will not be back on the big board if they do not take care of their current shareholders, regardless of when they purchased their shares ( and this is why the big dogs buying is a good sign imho) Think about it, if they screwed all of the investors with their pants on, nobody would ever invest in them again, not in a million years.
So......I have given this a lot of thought, as have a lot of people, and I am highly optimistic that this is going to end up great for everybody, even the commons, but there is still the small part of me that is a cynic and sees things in a negatively speculative way that takes my "Company A" dream from above, and destroys it buy TPG coming in and buying out for next to nothing. I definitely do not see that happening, and I foresee a fine 09 for everybody!
" I'll be fine in 2009 ! "
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=wamuq&SortBy=volume&Month=10-1-2008
You can look up whose been buying and who is holding the preferreds as well. Just use the same links.
Don't worry longs. WAMUQ will be a true penny stock soon, and then you will be able to buy up as much as you want and hope for a payout.
Best of Luck!
It is just the MMs selling off what they bought the last couple of weeks at lower prices to control the price and tempo. They know they are holding some hot stocks that will pop with news, or whenever they want to jack the price back up.
I'm not worried either. I think once they buy up what they can in the next hour or so, they are going to pop it back up!
Looks like they are controlling the price by .50 intervals pretty evenly!
So what do you think? Is Gates getting comfortable in one of the buildings he is going to get when he buys out the holding company?
Did they actually say the full words "Washington Mutual" or did they say WAMU ??
Well, JPM could just let Gates use it for free. They sure didn't pay anything for it.
WAMPQAVATOR going back up on Monday!
Have a good weekend !!!
Thanks buddy!
You seem not to understand what constitues the definition of "default" which triggers the liquidation preference. Here is a little taste of real-world verbage:
Sample and Methodology
SAMPLE DESCRIPTION AND TIME PERIOD
The sample is drawn from defaults that occurred between 1982 and 2003. Over this time period, Moody’s recorded
roughly 2,800 default events. After eliminating companies that defaulted on instruments other than bonds and/or preferred
stock, roughly 2,100 defaulting issuers were left in the sample. The sample also excluded certain defaulted
instruments, such as preferred stock issued by trust companies or bonds that were initially issued at deep discount to
par. The final sample consisted of 1,237 issuers that have price data on roughly 2,500 defaulted bonds and 79 issuers
that defaulted on 111 defaulted preferred stocks.
DEFINITION OF DEFAULT
For a security to be included in our sample of defaulted bonds and preferred stocks the issuer of the security must have
been categorized as being in “default”[/] as defined by Moody’s.
Moody’s default definition includes three types of events:
1. A missed or delayed disbursement of interest and/or principal, including delayed payments made within a
grace period;[b/]
2. Filing for bankruptcy, administration, legal receivership, or other legal blocks (perhaps by regulators) to the
timely payment of interest and/or principal;[b/] or
3. Consummation of a distressed exchange where: (i) the issuer offers bondholders a new security or package
of securities that amount to a diminished financial obligation (such as preferred or common stock, or debt
with a lower coupon or par amount, lower seniority, or longer maturity); or (ii) the exchange had the
apparent purpose of helping the borrower avoid default.[b/]
The definition of a distressed exchange is intended to capture events that change the relationship between the
bondholder and bond issuer from the relationship that was originally contracted and that subjects the bondholder to
an economic loss. Technical defaults (covenant violations, etc.) are not included in Moody’s definition of default.
The bankruptcy (event of default) triggered the liquidation preference. The preferreds must pay liquidation value.
Buddy, I understand. I will watch my stocks go up, and I will watch WAMUQ sit there at 6 cents for ever.
Question: What is WAMUQ worth?
Answer : .06
Question: What was it worth last week
Answer : .06
You couldn't even get somebody to pay a quarter for a share of WAMUQ.
I don't care how many times you post the same verbage, because you are fooling yourself. In essence you are bashing preferred stocks, which imho, is very, very foolish. I'm going to give it a rest and suggest you do the same.
Good luck with your nickel stock. Apparently you are very, very proud of it, and I am proud of you kiddo. Thanks for the same piece of advice 3 times. It is very much appreciated and I am very impressed.
glty
I understand. Do you understand the difference between a common stock and a preferred stock?
We are likely to find out soon enough.
Well I am more than confident that there is going to be a lot more than a couple billion when all is said and done. If you don't think so then you have a lot to learn.
I don't even have enough money to short anything and don't have an account that allows me to do so.
If you truly think that the common shares will pay out better than preferreds, then you have done some extremely poor DD. The big dogs are holding the preferreds as well. They haven't purchased as many preferred shares as common shares for the simple reason that they can't. Trust me, if they could buy more preferreds they would, but they can't because they simply aren't available.
Thanks for your opinion, but I feel you are dead wrong.
I say sell your commons now because everything is going to happen quick. If you think you are going to have time to wait for the common stock to go up so you can make $$ on an increase in pps I think your wrong. Everyone has their plan in place, and I certainly have mine.
Best of luck of luck to all, but I would not listen to diamondguru-one on this one!!!
I think that 10 - 20 % is too low. I think it will actually be at least 50%, but have no support for my estimate.
I feel that those who are saying 10-20% or less are the same ones that are sold on the common and are pumping and defending it 'til the end (which is fine), I feel that the common is still a good buy, however, the preferreds are the way to go.
There is no way that WAMPQ holders that , less than a year ago, bought shares for $1,000 per share, will get less than 50% of value in any scenario anybody can dream up. If a buyout happens:
B
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Full value!
: ^ )
No doubt about that, but I think in this case, when 1 runs, they all run.
I'm getting a great vibe and need to settle down!