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Thursday, April 03, 2014 4:56:34 PM
IMO the Preferred holders along with the equity holders of WAMUQ are in good shape for the tranches, once the funds come into play. However, the WMILT has not released anything about a recovery for them, until they do, we are holding placeholders of little to no value. This is obvious to most on here, but we hold out hope that the tranches will get to us and a recovery can be realized.
We did come out great in the settlement (IMO) because we were given common shares in a NEWCO that "are generating gains for our portfolio's." Escrow shares in WMILT that "may generate gains for our portfolio's." I don't know about you guys, but $1 to $3.40 is a 240% gain on your investment in 2 years. If you averaged down you are in a considerable green position. I for one, feel the KKR SIP and SPAC/V deal is going to blow WMIH "wide-open" real soon.
I am very happy with the outcome of this BK. I researched too many BK's after March 2010 and I was not happy with the results. We are very lucky that we got out of their with our skin intact. Yes, we lost some of it, but we still look good, We can afford the Plastic Surgeon to the fix the rest." Many Pre's are in the red, I understand this, but you've held on this long, the future of the NEWCO should make you green again. We will see what the future holds for us...
"light thru the trees!"
~Don~
Cheers
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