Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

Looking at the balance sheet it was well known by many of us in 2011 that Lehman would use up all their NOLs. The writing was in the financials and the disclosure statement and the main reason I hit the sell button. Mr Brandt must have been misinformed. I remember reading that article in 2012 and thinking Brandt was wrong. You notice that no one else of financial stature wrote about an NOL play. And didn't Brandt back off that theory later?

Between the 2008 filing and 2011 Lehman unloaded many billions in assets. I think nearly $400bil. It would not be unreasonable to think that they showed capital gains of more than $50 bil. Reading their comments in the filing it appears they may have.