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Not Sure. The politicians appear to have this thing rigged, the hearings a few weeks ago were not about WAMUS TRUE value before the takeover, it was about the " Risky loan" portfolio they held.
it's all a game, they know the EC has to be involved in the discussion
THIS BOARD HAS TO BE MAINTAIN ITS INTELLIGENCE AND NOT RESPOND TO PANIC SELLING
You either beleive WAMUQ was worth at leastthe $8.00 dollars that was previously offered or you don't, Bankruptcy stocks are not ' Day Trade type stocks"
I Am AMAZED that so many people sold BEFORE the equity committe even spoke! Come on People, lets be patient and smarter. I hold Commons and preffereds and have not and will not sale until this is over.
Excellent Post!
GIVING THE TAX REFUNDS COULD BE A CONCESSION FOR A HIGHER STOCK SWAP be patient, the process has just begun, equity is ALWAYS MENTIONED LAST IN BANKRUPTCY
JPM can't get the NOL's they stay with WAMU
Look up the Cusip of the WAMU bonds I am not an expert at buying them i use e-trade
WHY I STILL HAVEN'T SOLD A SHARE OF WAMUQ-
TPG has 7 Billion at Stake in Commons and/or preffereds If THEY get paid WE get paid. I can't imagine them taking a 7 Billion dollar hit without a SERIOUS fight, the equity committe exists for THEM.
Sit tight, Stocks in Bankruptcy are for the VERY informed, the day to day fluctuations of the PPS is irrelevant in LITIGATION PLAY/BANKRUPTCY STOCKS
also you have to hedge commons with bonds in most cases, buying common only is a horrible strategy i explained this on multiple posts earlier and i was basically told that this is the WAMUQ board etc.
If you believe wamu is worth what it was worth Pre-seizure, just hang on and enjoy the ride I AM NOT SELLING A SHARE. Hoping to buy more this week.
Officially nothing has changed until the equity committe lawyer speaks
There is no way to specualte intelligently, but if they TRUE value of WAMU is realized $8-12 a share is realistic
it's all about what the equity committe lawyer does to counter the proposal, don't follwo the panic follw the facts
GET THE BOOK THE PHOENIX APPROACH By Michael J. Grace it's the best book on distressed debt investing, it explains the process completely and in simple terms.
The books speaks of everything we are experiencing with WAMUQ education is the key, bannkruptcy is a complex process and you MUST be informed
DON'T JUMP THE GUN, THE NEGOTIATION PROCESS HAS JUST STARTED
I AGREE 100% we have to think strategically
Exactly
It want Fly, just a proposal to save face regarding the $4 Billion
The Equity Strikes BACK!
Basically nothing matters until the Equity rep makes the case for what we should get, we have only heard ONE side
Yes. it may rise Monday,But you shouldn't have 50% on your net worth tied up into ANY stock
Same here, didn't sell a share, hopefully when the REAL settlement comes we'll go through the same thing but in reverse
Well Said Proverbs
Great Post Silk!
I agree. We need to be protesing outsid ethe courthouse
Absoultely.
I agree 100%
Panic sellers that don't understand Chapter 11 caused the sell off
That seems possible, but WMI incs value was in its common stock in WAMU so they have a vested interest to get stockholders paid
THE REASON I HAVEN'T SOLD A SHARE AND BOUGHT MORE AFTER THE PANIC
-The Settlement doesn't appear OVER or Approved YET
1)Remember when Bear Sterns OFFERED $2.00 a share and over the weekend it was raised to $10 dollars?
2) Also WMI is in Chapter 11 NOT Chapter 7 so value is still there
3) WMI still has 20 Billion NOL's ( Who gets those)
4) Just because Sharholders have not been addressed directly does not mean that the once ALL the Math has been done that the Shareholders (Common and others) will get nothing'
5)Those who want to Gamble stick to lotto or the slots those that want to make money or get rich investing in Bannkrupt Companies, stock, or debt MUST not EVER react to the markets panic without justification.
6)If commons are offered just $5 dollars a share wouldn't you want to jump off a bridge after holding on so long and then selling after hearing a PROPOSAL for settlement
7) I have seen TONS of Settlement proposals in Bankruptcy Cases and it ALWAYS looks one sided until the other side speaks, it's the same way in criminal court cases when you ONLY hear the prosecutions side, everybody appears guilty until the defense speaks
8) WAMU Bondholders have not spoken yet, they are owed about 13 Billion, I bought bonds to hedge my risk with the commons, I posted about this and got a lot of posts telling me this was the WAMUQ board, but you MUST hedge your risk so you make it through the panic and shakeout, this is normal in Chapter 11 cases so i was shocked when everyonbe sold.
9) It's NO way stockholders can determine JUST from the settlement proposal that commons will get nothing, NO way. Just becuase tax refunds wil be split doesn't mean a stock swap isn't forth coming
Exactly. people sold to quick as if someone just came out and said "stockholders will get zero" I don't get the panic i thought it was a great day with more to come
WMI presents the restructure plan is due
I think you are 100% Correct.
THIS IS FAR FROM OVER, CHECK MY POSTS A WHILE BACK I TOLD EVERYONE TO HEDGE COMMONS WITH WAMU BONDS
No settlement has been approved stay calm, I bought MORE Shares and will buy more until march 26th, I am not new at this.
I'M WITH YOU REAL TIME64
I'M BUYING MORE STOCK UNTIL THE AGREEMENT IS SIGNED AND AGREED TO BY BONDHOLDERS AND THE EQUITY COMMITTEE
I AM BUYING MORE COMMONS AND MORE PREFERREDS!!!!! NOT SURE WHY EVERYONE SOLD BEFORE ETHE EQUITY COMMITTEE IS HEARD
I AM BUYING MORE COMMONS AND MORE PREFERREDS!!!!! NOT SURE WHY EVERYONE SOLD BEFORE ETHE EQUITY COMMITTEE IS HEARD
I'M STILL HOLDING UNTIL THE EQUITY COMMITTEE IS HEARD LOUD AND CLEAR NO NEED TO PANIC YET
SETTLEMENT WITH JPM IS BEING READ NOW!!!! ALL GOOD NEWS FOR US!!!!!
I agree. No need for a shareholders meeting if shareholders are going to be wiped out