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The only way for shorts to cover is of we sell them the shares. They made their money, now we have to hold on tight and not sell and then we can see a PPS rise fast. 5 M short shares is a lot of money to cover, so let’s make sure now WE make them pay
Stand corrected
They get millions in Dividends and we have 0. Very fair...
Maybe the DB money came in...around 600milliom
AZC or anyone. A little confused here,.. is this for Qs as well? Or just P and K
I seem to recall that conversion price had to do with KKR's investment. If the $600 are not needed then I guess the price is not reflecting that. That is why the PPS is dropping, 'cause it reflects true value of the shell
It was. My mistake
Some questions that arise from this?
1) the 1.9% interest payments on the loan portfolio theory would be out the door under this scenario
2) I assumed that there would be interest accrued for the 300 billion paid by JPMC
3) We were all anxiously waiting the settlement from DB-JPM-WMIH because of the supposed loan portfolio that it would be turned over from the trusts, if I am reading this correctly does trust would have nothing to do with us but with Chase, as they bought half of the portfolio and the other was with the MBS.
Just my questions. Thanks for taking the time to present it
That is the best explanation i have heard of this issue in my almost 9 years here
So I am guessing we are looking at July 31st then as a minimum date for anything to start rolling as it pertains to FDIC at least. Stupid question, but does the FDIC and FDIC-R move at the same time in their actions? Basically, are they one in the same or different bodies?
Great DD and appreciate your posts. Outstanding.
This makes a lot of sense if you look at the actions of the ones keeping the price down. The lower PPS and the weak hands will part ways and the hedgies will scoop up low priced lottery tickets. Wait isn't that what a lot of us did 9 years ago?
BOD cashing in? Done deal?
I agree mostly with LP. Where I differ is that we would be assuming that all loans did not reach maturity while in safe harbor, and I find that a hard sell. So, just to be fair and hypothetical, lets say a 1/3 of the 30yr loans matured, that would leave $200B of loans at 3% for 9 yrs. that would give us $60B (my original number) but then we compound the interest and it should give us close to $70 or $80B coming back. Only an opinion, don't start with the bashing.
My comment stems from the fact that the probability calls for 6 months after those dates of 12/16 and 3/17. Making that 6/17 to 9/17. That is what is written.
Great find and it is a clear and subtle way of pointing out the timing they believe of a deal completion. So in my view the deal should be done between 6/30 and 9/30. These clowns have known all along about all the things affecting us like Probate IMHO
I voted against all of them and their compensation. Get rid of them if they will not communicate and move off their "too comfy" asses.
Well the ticker is also showing the stock worth .0001, well every other stock has its normal valie
Not sure if this is good or bad but my stock value is at . 0001 right now in TD Ameritrade. Basically says that my stock is worthless. Anybody else see this? We could either mean that we are done and I just lost a whole bunch of money or the stock was halted and will be converted to something else. I sure hope for the second.
Mine is ok.
Ameritrade has no issue
Thanks for your reply. Not sure if it means anything but time will tell
Don't want to raise a big fuss, but my Ameritrade account has just modified my Escrow ticker. No sure why they did that. They now show it on top when it used to be at the bottom. Also the letters were small, now they are large and bold. Did anyone else see this, any explanation why? Odd it happened today out of all days
This makes a lot of sense. Hopefully you are on to something.
Deutsche asked to pay $14 billion to resolve US mortgage securities probe - CNBC
https://apple.news/Adc7-RaP9RRejLhVEPevOtw
Especially if it is coming from the 2.7B in funds
Might be thru KKR using WMIH
Why oil prices will head lower - CNBC
https://apple.news/AplXCdgU3Mie5qd5v3p0EmQ
Maybe they can get a little help from a settlement?
Deutsche Bank's second-quarter net income plunges nearly 100% year-on-year Deutsche Bank's Q2 net income plunges
Deutsche Bank's Q2 net income plunges
4 Hours Ago|03:56
Deutsche Bank, the German bank which is an important part of the global financial system, announced revenue and income falls Wednesday which could add further concerns for investors made jittery by a combination of Brexit and previous issues at the bank.
Deutsche's share price fell by 4 percent in early trading Wednesday after it announced second-quarter net income was down 98 percent from the same period in the previous year, to 20 million euros ($22 million), as it exited parts of its business while revenues were down 20 percent to 7.4 billion euro.
Further cuts may be needed, John Cryan, chief executive of Deutsche Bank, warned.
"If the current weak economic environment persists, we will need to be yet more ambitious in the timing and intensity of our restructuring," he said in a statement.
Deutsche's CET1 ratio - a key measure of financial strength - improved slightly to 10.8 percent.
The bank, one of Germany's largest lenders, has lost around 40 percent of its market value this year as concerns mount about its capital position and $14 billion in fines over past misconduct.
John Cryan, the bank's co-chief executive who was appointed in July last year, has embarked on a drastic plan to meet its capital targets, including scrapping dividend payments to shareholders, thousands of job cuts and asset sales. Raising new capital is likely to be difficult because of the bank's holdings of debt for some of the worse off euro zone countries.
From Cramer's lightning round
Chesapeake Energy: "I'm not a big fan. I do not really care that much for the fossil fuels. I do believe that stock can go higher, though. Why? Because it's so hot that people are going to start believing that natural gas has to go up in price and they are going to buy that stock up $1."
Assuming this is up to date...If there was no more than 2M shares from the Institutional funds that decreased position. Where did they get the shares, little guys? Doubt it
If it is not updated which is more likely, then if that have to file quarterly we should be seeing some new information in the next couple of days. Then we shall see if it is a new fund or if it was transferred from another fun because those types of volume of shares can only come from institutional holders in my opinion
I would have thought that we would have seen a filing for the 20m shares on Friday. It is so confusing that we did not. Very frustrated with lack of information
My understanding is that it matters who bought the 5% in volume. So if they did it in 1 transaction or over 1000, it is still a 5% share. Am I incorrect in my interpretation?
I am missing your point to Newbie's comment. As I understand it he saying that there should be filings because there was a more or less 10% change in ownership. If it was a small trades or a single trade, I do not think that matters. You seem to agree yet you point that he needs to do some due diligence. Am I missing something here or are you just trying to antagonize everybody on this board?
I will leave that to more seasoned traders such as you.
More than likely the spike in volume was related to the entry in Rusell and funds acquiring shares as soon as the close went in. This would explain the huge shares, although it kinda also tell us that all the 4500 share trades are part of insider trading in my opinion. Someone knew something and was trying to slowly but surely buy before it was available for all. IMHO
Does this seem real to you? For me it sounds like JMP has to pay, but what and how much? Although it is to the LT markers. Very interesting news...
Thank you for the report. It's what happens next that matters now, please let us know when you can share the rest of the conversation.
No news at all, same ol' same ol'