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Thursday, October 13, 2016 3:32:17 PM
I own both classes, if the Appeal is denied my guess is share prices will plummet in both classes in reaction and over time jr preferred may get very cheap. We may see that happen as we approach 12/31, as that has bee the pattern for years in my view due to tax loss selling. I am prepared to buy more jrs. should the Appeal be denied. I also think that the court case will drag on for years, it is the nature of the Legal Process and as you have mentioned there are a lot of moving pieces on the board and far more than two players in the court cases.
These are risky shares as we know and the outcome will be interesting to say the least. I hope I live long enough to see it :) Once upon a time I felt that way about the Giants winning the World Series; sometimes good things happen to those who wait and persevere.
"One bright sunny morning in the shadow of the steeple, by the Relief Office, I saw my people -As they stood hungry, I stood there wondering if God blessed America for me."
--Woody Guthrie
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