Lehman Brothers Holdings Inc. (fka LEHMQ)

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Hey Joe Stocks,

It appears that the P-series preferred stock is the best bargain right now! This one has a face value of $1000.00 a piece, and is CONVERTIBLE into common stock at any time.

Here is a description of the P series preferred stock:
http://www.quantumonline.com/search.cfm?tickersymbol=LEH-p&sopt=symbol
This is now trading in the range $1.00-$1.05
http://pinksheets.com/pink/quote/quote.jsp?symbol=LEHPQ#getQuote

From the first link above:
"The preferred shares are convertible any time at the holder's option into 20.0509 common shares of lehman Brothers Holdings Inc. (NYSE: LEH), an initial conversion price of $49.87 per common share."

So, if you buy 1000 shares of LEHPQ you pay now $1000-$1050 (as I did today). If you convert 1000 shares of LEHPQ into common stock (LEHMQ) you get 20,050 shares, which are trading right now at $0.245 a piece, meaning that you cash about $4900 (menus $30 processing fee). I am in the process of doing the conversion now (for half of the LEHPQ shares that I bought today). I hope that everything goes smoothly.

Good luck to all!